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Executives Shuffled

Recent executive appointments and terminations

December 8, 2008

By MortgageDaily.com staff

A new chairman has been elected by a banking trade group, while two banks have named new senior executives and a title insurance firm has restructured its management.

Charles E. Van Swearingen was named Chief Financial Officer of HomeBancorp Inc., a recent announcement said. He is a certified public accountant with an MBA from the University of Pittsburgh.

The American Bankers Association has elected Arthur Connelly Chairman, an announcement last month said. He replaces outgoing ABA Chairman Bradley E. Rock.

Connelly is chairman and chief executive officer of Massachusetts-based South Shore Bancorp, a director of the Federal Home Loan Bank of Boston and a former vice chairman of Americas Community Bankers before that trade group merged with the ABA.

Stewart Title Co. announced today a structural reorganization. The move includes a realignment of senior executives and a consolidation of back-office operations.

"We are expediting this initiative to more quickly obtain cost savings, drive efficiencies and enhance sales and marketing support," Stewart executive Matt Morris said in the statement. "Reducing our back-office cost structure will allow our offices to focus on customer-facing activities while ultimately creating a more flexible organization to better serve our customers and manage market cycles."

Peter Federico has succeeded Timothy Bitsberger as treasurer of Freddie Mac, a spokeswoman for Freddie reportedly told the Wall Street Journal recently.

Milford National Bank and Trust Co. President and CEO Kenneth R. Cole told the Milford, Mass.-based institution's board of directors on Nov. 26 that he was resigning, the Milford Daily News reported last week. A replacement was expected to be announced shortly.

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