Stonegate Mortgage Corp. (SGM)

[Greta Grabo]

Stonegate Mortgage Corporation Announces the Appointment of Richard A. Kraemer as CEO and James V. Smith as President and COO


INDIANAPOLIS--(BUSINESS WIRE)--

Stonegate Mortgage Corporation (SGM), a leading, publicly-traded non-bank mortgage company announced today Richard A. Kraemer, has been named Interim CEO of the company. Mr. Kraemer is replacing Jim Cutillo, who has resigned from the company effective September 10, 2015. Mr. Cutillo will be assisting Stonegate as a consultant to facilitate his transition from the company over the next six months. Mr. Kraemer will retain his position as Chairman of the Board.

With over 35 years of experience in financial services and mortgage banking, Mr. Kraemer will be overseeing the day-to-day management of the company until the search for a permanent CEO with the requisite leadership and mortgage industry experience is completed.

In addition, effective September 3, 2015, the company is announcing the appointment of James V. Smith as President and COO, reporting to Mr. Kraemer until a permanent CEO is named. In his new role at Stonegate Mortgage, Mr. Smith will be responsible for overseeing all of the company’s operations.

"I am excited about the opportunity to join Stonegate Mortgage at this juncture and believe that my past experience will be an asset to the company going forward," said Mr. Smith.

Wasn't Mr. Smith a big shot over at BOA???


http://finance.yahoo.com/news/stonegate-mortgage-corporation-announces-appointment-123000405.html;_ylt=A0LEVje8leRV.xcA_OcnnIlQ;_ylu=X3oDMTByMjB0aG5zBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzYw--