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M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Executive Decisions

Recent executive activity

February 18, 2009

By staff

A range of mortgage-related entities saw changes at or near the top.

Office of Thrift Supervision Director John M. Reich will resign on Feb. 27, an OTS announcement last week said. The Bush appointee, who disclosed his plans to leave last year, was originally sworn in on Aug. 9, 2005.

OTS Senior Deputy Director and Chief Operating Officer Scott M. Polakoff becomes acting director upon Reich's departure. A permanent director will be appointed by President Barack Obama.

Darren S. Fleishman was appointed chief financial officer of Residential Finance Corp., a press release last week said. Fleishman previously worked as a consultant, and he also served as an executive at ABN AMRO / LaSalle Bank. He holds a degree in finance from the Wharton School of Business, University of Pennsylvania.

Bill Kusman has replaced Mark Turkcan as president of First Bank's mortgage division, BizJournals reported last week. Turkcan was indicted for hiding $35 million in trading losses at the Missouri lender over an 18-year period. Kusman is a former CitiMortgage executive. parent Inc. reported in a Feb. 5 filing with the Securities and Exchange Commission that the company's president of real estate, Bret Violette, will step down on Feb. 27. Violette will, however, continue to receive his base salary and guaranteed bonus payments through July 15.

Douglas J. Glenn was named chief operating officer of Hampton Roads Bankshares Inc. He will continue in his role of executive vice president and general counsel. The attorney previously practiced law for sixteen years at Pender & Coward, P.C.

A few weeks ago, Hampton replaced the chairman of its Gateway Bank & Trust subsidiary.

Orrstown Financial Services Inc. said in a statement Friday that Thomas R. Quinn Jr. was hired to succeed Kenneth R. Shoemaker as president and CEO of the Shippensburg, Pa.-based company and subsidiary Orrstown Bank.

Quinn previously served as president and CEO of Fifth Third Bank's South Florida affiliate and held various executive positions at Citigroup. He starts work at the bank on March 5, though he doesn't assume his new title until May 5 -- when Shoemaker retires.

Former Freddie Mac executive Patricia Cook has been hired by Green Tree as executive vice president, business development. Cook previously also worked at JP Morgan Fleming Asset Management, Prudential Investment Management and Salomon Brothers.

Forensic loan auditor Echo Loans announced that Paul Rodriguez was promoted to president of the Foothill Ranch, Calif.-based firm.

photo of Thomas R. Quinn Jr.
Orrstown Financial photo of Thomas Quinn

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