|Conseco Names New President at Conseco Finance
INDIANAPOLIS--(BUSINESS WIRE)--Jan. 3, 2002--Conseco, Inc. (NYSE:CNC) announced today that it has named Charles H. (Chuck) Cremens as President and CEO of its subsidiary, Conseco Finance. Cremens succeeds Bruce Crittenden who resigned to pursue other interests.
Commenting on the management change, Conseco Chairman and CEO Gary Wendt expressed appreciation for Crittenden's leadership at Conseco Finance. "Bruce built a great team at Conseco Finance," said Wendt. "And in the early stages of our turnaround he did the difficult things that needed to be done. All of us at Conseco wish him well.
"We are pleased, however, to announce the appointment of Chuck Cremens as the new President of Conseco Finance. He brings a wealth of experience and new perspective to an important part of the Conseco family."
Cremens (47) brings to the position 20 years of diverse experience in various financial services companies. From June 1999 to July 2001, he was President and Chief Operating Officer of WMF Group, Ltd, the largest originator of Fannie Mae and FHA multi-family loans, with a $15 billion mortgage-servicing portfolio. WMF merged with Prudential in June 2000.
Prior to WMF, Cremens was Chief Investment Officer for Beacon Properties Corp., where he spearheaded the growth of the office REIT from $500 million to $4 billion in under two years. Beacon merged with Equity Office Properties in December 1997.
A graduate of Williams College, Cremens spent the first 16 years (1978 to 1993) of his business career at Bank of Boston where he served as Managing Director of the Corporate Finance Department and, later, as Managing Director of the Restructured Real Estate Department. As a senior officer of the corporation, he served on the $85 billion bank's National Credit Committee and Credit Accounting Committee.
From 1993 to 1995, Cremens was President of the Real Estate Investment Division of Aetna where he was responsible for managing a $15 billion portfolio of mortgage loans and a $1.5 billion real estate portfolio.