Mr. Cooper has new head of IR
Dallas, Texas-headquartered home loan provider Mr. Cooper Group has named former analyst Kenneth Posner as its new head of investor relations.
Posner joins the firm from Capital Bank Financial – a company he co-founded –where he served as chief of strategic planning and investor relations. His new role at Mr. Cooper Group also combines strategic planning and investor relations.
The certified public accountant, who is also a chartered financial analyst, previously served as ‘managing director and Institutional Investor-ranked research analyst at Morgan Stanley’, where he covered specialty finance and mortgage companies, according to a press statement announcing his appointment at Mr. Cooper. In addition, Posner has written extensively on strategy and risk management, including thought pieces on asset bubbles, governance and Bitcoin, and how to withstand extreme volatility.
Posner’s appointment comes after another Capital Bank Financial co-founder was named CFO in December. Christopher Marshall, who comes most recently from his role as CFO at the bank, was also appointed to the newly created position of vice chairman.
The Mr. Cooper Group was formed from a merger between Nationstar Mortgage Holdings and WMIH – the former parent company of Washington Mutual, which went bankrupt in 2008, becoming the second-largest bankruptcy after Lehman Brothers. In 2012, WMIH emerged from bankruptcy as the successor to Washington Mutual, going on to acquire Nationstar, which had recently changed its name to Mr. Cooper, in July last year.
With around 3 mn customers, Mr. Cooper is one of the largest mortgage providers in the US.