Walter Investment Management Corp. names former senior General Electric and Citigroup Executive, George M. Awad, Executive Chairman and Interim CEO
"As we continue with our transformation of the Company, we believe Walter will benefit greatly from George's leadership," said Beltzman. "We are fortunate to have an executive of George's caliber and experience join the team to guide Walter through the next stages of its transformation. George is a talented consumer finance leader with a proven track record for execution. He has the experience and skill-set needed to lead our efforts in re-engineering processes designed to reduce costs and improve revenue opportunities which we believe will strengthen our financial position and increase shareholder value. George is a values-driven leader and, having spent the majority of his career in consumer focused businesses understands that people – employees and customers - are central to success."
Awad, a principal at the wealth management firm
Before joining Citi, Awad spent 18 years at GE, where he helped lead GE Money to significant organic earnings growth. There, he managed an expansion effort that led to the addition of more than 2,000 branches and the introduction of numerous valuable new products. His previous positions at
Said Awad, "I see a tremendous opportunity at Walter. This company has a strong operating platform and a team of mission-driven people who want to make a difference in the lives of millions of Americans who haven't been served well by traditional banks. The road ahead will have challenges, but I believe if we accept these challenges and hold ourselves accountable for our performance, we can build a world-class, customer-focused company that ensures repeat business for recurring mortgage needs."
Dixon has served on Walter's board of directors since 2009 and joined the management team in 2010. He assumed the CEO post in
"I believe change can be a powerful catalyst for accomplishment. While this was a difficult decision to make personally, I believe it was the right one for both Walter and for me at this time. I look forward to working with George and the team to achieve a seamless transition and assist the company in achieving its true value and potential," said Dixon.
The board has retained an outside firm to assist with the permanent CEO search.
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