Cenlar FSB names new CEO

The company's previously appointed co-CEO will support him as COO

Cenlar FSB names new CEO

Mortgage subservicer and federally chartered wholesale bank Cenlar FSB has named its new president and CEO – D. James “Jim” Daras (pictured).

Daras brings over four decades’ worth of banking and mortgage banking experience into his role, during which time he has developed extensive knowledge in risk management, bank restructuring, venture capital investing, and corporate finance functions, among others. He joined Cenlar FSB as early as 1985, leaving his post as its chief financial officer in 1990 to join NYC-based Dime Bancorp before ultimately coming home to Cenlar FSB in 2015.

Daras then worked with several venture capital firms investing in financial services companies, including Loan Servicing Solutions, where Daras previously served as CEO.

In 2019, Daras once more moved away from Cenlar FSB where he had since been appointed chief risk officer and executive vice president, towards an advisory role. He rejoined Cenlar FSB full-time only last year to manage the company’s banking functions as serving as its executive vice president.

“Jim is an accomplished and exceptional executive leader with a great deal of experience who will ensure Cenlar continues its commitment to providing high quality service to our customers,” said Dave Applegate, board chair of Cenlar FSB.

The announcement comes shortly after Daras and executive vice president and chief operating officer Robert “Rob” Luz were appointed co-CEOs following board chair, president, and CEO Greg Tornquist’s retirement from Cenlar FSB.

Luz will continue in his role as chief operating officer to support Daras at the helm of the company.

“I am thrilled and honored to have been named CEO at this point in Cenlar’s journey,” Daras said. “Cenlar was built on collaboration, expertise, client and homeowner care, and the ability to transform itself during each part of its journey, and I am confident in Cenlar’s long-term success.”