*New Hires Combine Technology And Experience*
***Would you hire a pastry chef to prepare the main meal at your next party? Probably not. It may turn out okay and it may be a hit, but most likely the pastry chef can’t prepare a grand meal for your big party the way a world-class catering service would. The same applies in the world of mortgages. When you want something done right, you need to hire an expert. Two new hires exemplify a strategy whereby more and more companies in our space are looking for quality staff. Here’s the scoop:
****First, ISGN has named Ritesh Idnani its new chief executive officer. Idnani succeeds Krishna Srinivasan, founder, CEO and vice chairman of ISGN, who will continue as a member of the board and will remain executive vice chairman of the company. Idnani joins ISGN from Infosys BPO Limited, an Infosys Group company, where he served as chief operating officer and senior vice president. In six fiscal years, from 2005 to 2011, Idnani grew Infosys BPO’s revenues from $40 million to approximately $500 million annually, with the highest operating margins in the global business process outsourcing (BPO) sector.
****“Ritesh is a superb choice to lead ISGN to its next phase of growth and development,” said Shyam Bhartia, chairman of the board at ISGN. “Along with his proven track record and immense experience, Ritesh brings on board tremendous strengths in growing multiple businesses organically as well as inorganically, which coupled with his global exposure and success with great companies will be a perfect complement to ISGN’s all-star team and its mortgage industry expertise. On behalf of the board, I would like to thank Krishna for his vision, leadership and outstanding contribution that have built ISGN into an industry leader. We are happy that he will continue to serve as executive vice chairman.”
****“Over the last five years, ISGN has been built to be the service provider of choice for our customers,” Srinivasan said. “ISGN will now need to enable its customers to adapt to the industry reconfiguration and garner additional market share. I am excited and confident that adding Ritesh will truly empower us to be the transformational partner of choice to our customers.”
****Idnani sees it as a propitious time to join ISGN. “I am very enthusiastic to join the ISGN leadership team and help scale the business to the next level,” Idnani said. “The mortgage industry has been through significant changes with the regulatory environment, the reconfiguration of market participants, the need to maintain operational excellence and the ever-expanding role of technology.”
****Second, Renee Deane has been named executive vice president, operations at Carrington Property Services. In this new position, Renee will direct the growth of the company’s REO rental business. A 25-year industry veteran with extensive experience in the financial services industry, Renee currently oversees Carrington’s national rental division, which operates in more than 40 states. She has developed and maintained relationships with global investment banks, GSEs and large institutional investors, and has a proven track record of developing and automating operational efficiencies to achieve positive financial results.
****“Renee has excelled in managing and enhancing the national rental programs we operate for Fannie Mae, in addition to bringing on major new clients, while managing our own portfolio of properties,” stated Michael Harris, president of Carrington Property Services. “Our plan to expand these rental programs requires someone with the knowledge and experience that Renee offers, and we believe she’s very well qualified to help us meet our business objectives.”
****Prior to joining Carrington in 2010, Renee served as executive vice president of operations/chief credit officer for Nations Direct Mortgage, where she tripled origination volume within six months. She was responsible for all areas of origination up to and including ensuring that all loans originated were sold on the secondary market and insured by HUD. Renee is a sought-after speaker at mortgage banking and investment banking conferences in the U.S. and abroad, and has participated on several advisory boards as well.
****“We’re very happy to have someone with Renee’s experience and expertise managing such a strategically important aspect of our business,” said Bruce Rose, chief executive officer of Carrington Holding Company, the parent company of Carrington Property Services. “Being able to manage the rental of thousands of single family homes in geographically diverse locations poses serious operational challenges, and we’re lucky to have someone in place to effectively manage these challenges.”