Ditech Holding announces management changes

Thomas Marano will be president and CEO of the company formerly known as Walter Investment

Ditech Holding announces management changes

Thomas Marano is assuming the role of CEO and president of Ditech Holding in addition to his role as chairman of the company’s board, effective immediately.

Marano takes over from Jeffery Baker, who was named interim CEO and president in February. Ditech, which changed its name from Walter Investment Management, emerged from bankruptcy earlier that month. Baker will continue to serve as president of the company's Reverse Mortgage Solutions business.

Daniel Beltzman, chairman of the board's nominating and corporate governance committee, said Marano stood apart from other candidates in a comprehensive search as a result of his more than 29 years of experience in the financial services industry.

"It is a privilege to take on the role of Ditech Holding's CEO during this important and exciting time for the company, as we work to improve our financial and operating performance,” Marano said. “I have known Ditech Holding for many years, having spent the majority of my career in mortgage trading and originations.”

Ditech also announced that it has named Ritesh Chaturbedi as its CEO, effective April 23. Chaturbedi is an executive with more than 15 years of technology and digital sales experience.

"Ritesh's track record of helping businesses transform how they engage with customers through digital channels makes him an ideal choice to further enhance the strength and depth of our leadership team," Marano said. "Specifically, his leadership experience in strategy, technology, e-commerce, operations, and customer experience will help enable Ditech Holding to continue our transformation, drive innovation, and build on our legacy as a customer-driven organization."

 

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