IndyMac installs new leadership: Richard H. Wohl promoted to president of IndyMac Bank; Frank M. Sillman named CEO of mortgage banking divisionMortgagePress.comIndyMac,Wohl
Richard H. Wohl had been named president of IndyMac Bank, a
newly created position that will oversee the primary business
divisions of IndyMac Bank in both its thrift and mortgage banking
segments. Additionally, the company has promoted Frank Sillman to
the post of chief executive officer of IndyMac Mortgage Bank.
Wohl will continue to report to Michael W. Perry, chairman and
chief executive officer of IndyMac Bancorp Inc. In addition to the
promotion, Wohl has also been elected to serve on the board of
directors of IndyMac Bank.
"I am very pleased to announce the promotion of Richard to
president of IndyMac Bank. For more than 11 years, he has been
instrumental in the growth and success of IndyMac and the mortgage
bank in particular, which, under his leadership, has grown from the
26th largest to the 11th largest single-family residential mortgage
originator in the nation in just five years," said Perry. "His
strong skills and many years of experience in mortgage banking at
IndyMac, as well as his leadership contributions to the growth of
IndyMac Mortgage Bank, make him the perfect choice for this new
Wohl has served as senior executive vice president of IndyMac
Bank and chief executive officer of IndyMac Mortgage Bank since
2000. He was hired as general counsel and secretary in 1994 and
served in that capacity until 1999, when he was promoted to senior
executive vice president and chief operating officer. Prior to
joining IndyMac, Wohl was an attorney with Morrison & Foerster
of Los Angeles, where he worked in the institutional lending and
corporate areas with a focus on mortgage banking.
Wohl graduated with distinction from Stanford University and
received a law degree from Harvard Law School, where he was an
editor of the Harvard Law Review.
The company also announced that Frank M. Sillman has been
promoted to chief executive officer of IndyMac Mortgage Bank, a
position previously held by Wohl. Sillman previously served as the
chief executive officer and executive vice president of the
Mortgage Professionals Division of IndyMac Mortgage Bank.
"Frank has played the major role in the execution of our
strategy to gain market share through the expansion of IndyMac's
operations geographically with strong sales force growth and
increased relationships with mortgage professionals across the
country. This has been one of the key factors in the success of
IndyMac Mortgage Bank. His promotion to CEO of the Mortgage Bank
also exemplifies both IndyMac's strong culture of meritocracy,
where outstanding performance is rewarded, and our preference for
promoting from within our company to fill key management
positions," commented Wohl. "His experience and knowledge of our
industry will be important factors in executing our strategy. I
look forward to continuing to work closely with him to meet our
Sillman joined IndyMac in 1997 as a senior vice president and
was promoted to CEO of the Mortgage Professionals Division in 2004.
The Mortgage Professionals Division represents the largest division
of the mortgage bank, producing 82 percent of total mortgage bank
production and 71 percent of total mortgage bank revenues in 2004.
During his tenure at IndyMac, Sillman held various leadership
positions with the mortgage bank, including heading up product
development and overseeing sales and marketing. Prior to joining
IndyMac, he founded two retail mortgage banking companies, TCM
Mortgage and American Home Credit. Prior to that, Sillman served as
treasurer for Shearson Lehman Mortgage for five years. Sillman has
19 years of experience in the mortgage banking industry. He
received his bachelor's degree from the University of California,
For more information, visit www.indymacbank.com.