Over 50 years of management experience added, including the former CEO of GMAC ResCap
Los Angeles – February 1st, 2010 – DebtMarket, the world’s online marketplace for buying and selling whole loan portfolios, today announced the addition of three leading industry experts. Effective immediately, Stuart McFarland will serve as the Special Advisor for Capital and Federal Markets, and Jim Jones and Bob Feller will join as members of the Board of Directors.
Stuart McFarland previously served as CFO of Fannie Mae, as well as CEO of GE Capital Asset Management Corporation. Stuart has also served as the President and CEO of Pedestal. McFarland’s role will focus on outreach to various branches of government including GSE’s and the FDIC. Stuart will be representing DebtMarket in Washington DC, where he will open a liaison office.
Jim Jones, the former CEO of GMAC’s Residential Capital LLC brings with him over 30 years of management experience in commercial banking, consumer lending, and related financial services. Prior to his role as CEO, Jones served as the president of ResCap’s Residential Finance Group, CEO of Aegis Mortgage, and has also held senior positions at Providian, Bank of America, Wells Fargo and Citigroup. Jim will take a lead role in promoting the firm to marquee names in the residential and commercial mortgage space.
Bob Feller, former Chief Executive Officer of Capmark Financial Group (formerly known as GMAC Commercial Holding Corp) will support DebtMarket’s expansion into additional asset classes. Most recently Bob has served as Pitcairn’s Executive Vice President.
Scott Walchek, Co-Founder and Chairman of DebtMarket, said, “With this considerable boost to our intellectual capital, we will have a much stronger and more diverse offering for both buyers and sellers. Ultimately, building out a team with asset specific knowledge like this, will support the company’s growth objectives as well as the marketplace as a whole.”
“We are excited to bring in three high caliber executives, who will deliver a breadth of invaluable experience to our team,” added Mike Sheridan, Co-Founder and President of DebtMarket. “Jim, Stuart, and Bob will play an integral role at DebtMarket as the company expands its presence in the market, especially in regards to the commercial and residential mortgage space.”