Roostify hires (another) Freddie alum
Another Freddie Mac veteran has joined home lending fintech Roostify. Randy Jones is now the organization’s VP of sales and business development, a newly created role following the recent closing of a $32 million Series C funding round led by Ten Coves Capital.
“Randy joins our growing team at an important time,” said Roostify CEO Rajesh Bhat. “We wanted a business development and sales leader committed to client success. We know Randy has the industry knowledge necessary to connect client needs to our unique” artificial intelligence (AI) powered solutions and the experience to further amplify Roostify’s impact in the market.
Jones brings 28 years of home lending industry experience gained holding roles in sales, product development, and successful client outreach. He will reportedly “build a consultative sales team of industry experts” who will focus on assisting lenders to identify what components of Roostify’s modular technology can help them build or improve their digital lending platforms.
“My focus in the coming weeks will be to assemble a team that will strategically leverage Roostify’s AI technology to meet the unique needs of each client,” said Jones. “Roostify’s product features and functionality are enabling lenders to continue doing business” despite the pandemic driven disruptions and challenges.
Jones isn’t the first Freddie Mac alumnus to make a career move to Roostify. He joins former Freddie Mac colleagues Chris Boyle, Roostify’s president of home lending, and Dave Lowman, who joined Roostify last year.
CSS welcomes two independent board members
The board of managers at Common Securitization Solutions (CSS), a joint venture platform owned by Fannie Mae and Freddie Mac that processes more than $400 billion in mortgage securities each month, recently reported the addition of Dylan Glenn and Lynnette Kelly as new independent members of the CSS board, as required by the company’s 2020 scorecard.
“Both bring a wealth of financial services and regulatory experience to our firm,” said J. Christopher Giancarlo, Board Chairman at CSS.
The new member additions reportedly are in line with a January 2020 Federal Housing Finance Agency (FHFA) decision to appoint Giancarlo as independent chairman of the board and to amend the CSS Board structure expanding the number of members from four to nine.
Following that decision, FHFA gave a seat on the board to CSS CEO Tony Renzi, and opened up the opportunity to appoint up to three independent board members in addition to Giancarlo, and to allow Fannie Mae and Freddie Mac to appoint two board members each.
Further, according to a CSS statement, under Giancarlo’s leadership, the board, FHFA, Fannie and Freddie are helping to determine the future state of CSS “as outlined by FHFA in its 2020 Scorecard.”
“Dylan and Lynnette have a great diversity of experience in financial services as well as in complementary sectors such as investment banking, asset management, and securities regulation,” said Renzi. “I look forward to them helping us in our efforts to realize the full potential of our business.”
Glenn is CEO of KBBO Americas, L.P., the U.S. based investment vehicle for the KBBO Group, a diversified investment company headquartered in the United Arab Emirates. Prior, Glenn was senior managing director of Guggenheim Partners, where he coordinated its joint venture partnership with Abu Dhabi-based KBBO Group that created Guggenheim KBBO Partners, and serves as its chairman.
He also served as deputy chief of staff to Governor Sonny Perdue of Georgia, as White House special assistant for President George W. Bush for economic policy; as a member of the National Economic Council’s presidential advisory team. Glenn has spent almost two decades in national and state politics.
Kelly bringsover 30 years of financial services senior executive experience in the fixed income securities markets, both domestically and internationally. Her expertise includes legal and compliance, technology and data, advocacy, regulation and business management.
She served as president and CEO of Municipal Securities Rulemaking Board (MSRB), the nation’s primary regulator of the municipal securities market, based in Washington, DC, for 12 years – until her retirement in September 2019.
Prior, she was SVP and associate general counsel of SIFMA, the Securities Industry and Financial Markets Association; practiced law at several international law firms; served as general counsel for a major New York issuer of municipal securities; and represented the fixed income markets banks and broker dealers as a trade association professional.
Quontic promotes Aaron Wollner as CMO
Privately held digital bank Quontic announced it has promoted Aaron Wollner, who joined the company in August 2020 as SVP of marketing, to chief marketing officer, effective immediately. He will lead Quontic’s overall marketing strategy “to drive growth and continue to elevate Quontic as a fintech.”
Quontic is evolving at a rapid pace and to continue to successfully do that “we are committed to putting the right people” on our leadership team, said Steve Schnall, CEO and founder of Quontic. Wollner is a premier marketing executive with an extensive past who “has proved to have a steady hand, innovative mindset and great success at implementing results-driven initiatives.”
Wollner spent the last 15 years at companies that range from Fortune 50 organizations to startups, leading and building data driven high performing marketing teams, according to the announcement.
At Quontic, he is focusing on establishing and executing the company’s broader digital marketing and branding strategy. Among others, he is responsible for bringing together the right people and partners for the marketing team and for “building the lead generation engine for the mortgage business.”
Purchased by Steve Schnall in 2009, Quontic has provided over $2 billion in mortgages to date, nearly 70% of which was low-income neighborhoods or households, according to the company website. The bank’s stated mission is “financial empowerment for all” via adaptive digital lending and customized banking “for the underdogs, entrepreneurs, gig-economy workers, immigrants.”
“I’m passionate about growing brands digitally,” said Wollner, “that’s what I am looking forward to.”
Loomis Sayles promotes Kyra Fecteau to MSF portfolio manager
Loomis, Sayles & Company, an investment management affiliate of Natixis Investment Managers, has promoted Kyra Fecteau, CFA, to portfolio manager for securitized credit strategies under the firm’s mortgage and structured finance (MSF) team.
In her new role, Fecteau will serve as co-manager of the Loomis Sayles, Investment Grade Securitized Credit strategy with Alessandro Pagani, head of the MSF team. She also joins Pagani and Stephen L’Heureux in co-managing the Loomis Sayles, High Yield Securitized Credit strategy.
Under Pagani’s leadership as of December 31, 2020, the MSF team reportedly helps oversee $30.4 billion in securitized investments across the firm “in both dedicated mandates and as part of broader investment strategies.” Established in 1926, Loomis, Sayles & Company manages $347.8 billion in assets.
According to a company statement, Fecteau will take on her new responsibilities while retaining her role as an investment strategist for securitized credit, responsible for aiding Loomis Sayles fixed income product teams in constructing and implementing optimal securitized strategies across all segments on securitized assets.
“This promotion formally recognizes the critical work Kyra has been doing on our securitized credit strategies and reflects our confidence in her excellent judgment and investment acumen,” said Pagani. “Kyra has been a key contributor to the team’s success since she joined Loomis Sayles… we know her continual pursuit of excellence will serve her well in this portfolio management role.”
Fecteau joined Loomis Sayles as a portfolio analyst in 2015. Two years later, the executive team promoted her to senior portfolio analyst and to investment strategist in 2018.
Previously, at Merganser Capital Management (MCM) she served as a structured products research analyst, trader and co-portfolio manager of the company’s commercial mortgage backed securities (CMBS) unconstrained portfolio, and before MCM was an internal audit officer at State Street Corporation. Fecteau earned a BA from Stonehill College.
Amilda is a journalist and branding consultant interested in how entrepreneurs turn brilliant ideas into products and services that advance business acumen and improve people’s lives in unprecedented ways. She has covered mortgage finance for over 15 years.