Dallas-based residential mortgage originator PrimeLending, a PlainsCapital Company, has announced that Todd Salmans has been promoted to president and chief executive officer. PrimeLending founder Roseanna McGill has been named chairman of the board and Keith Klein has been promoted to executive vice president and chief operating officer.
Effective Jan. 1, 2011, Salmans is responsible for the strategic direction and day-to-day management of PrimeLending including financial performance, compliance, business development, board and strategic partner communications and team development. Since joining the company in 2006, Salmans has helped grow PrimeLending, a member of the PlainsCapital Corporation family of companies, into one of the nation’s leading residential mortgage originators; ranking as the number 10 Federal Housing Administration (FHA) lender in the United States for 2009.
“I began laying the groundwork for these changes five years ago when I hired Todd,” said McGill. “Since then, we’ve worked like partners and I am looking forward to continuing to work together toward PrimeLending’s continued success.”
PlainsCapital Corporation Chairman and Chief Executive Officer Alan B. White said, “Roseanna’s entrepreneurial spirit led her to found PrimeLending 25 years ago and is one of the many reasons why the company has grown and prospered since then. Under Roseanna and Todd’s leadership, PrimeLending reached nearly $8 billion in production in 2010 even in these challenging economic times. Now we are positioning PrimeLending for what we expect will be significant industry-wide changes in the near future.”
Prior to joining PrimeLending, Salmans served in regional vice president positions at CTX/Centex, Chase Manhattan/Chase Home Mortgage Corporaton, and First Union National Bank/First Union Mortgage Corp. Salmans is currently a board member of the Texas Mortgage Bankers Association.
McGill, who founded PrimeLending in 1986, will serve as chairman of the PrimeLending board and will continue to provide strategic, financial and operational guidance to Salmans. In November, McGill was named executive vice president of strategic initiatives for PlainsCapital Corporation; a role in which she will focus on potential expansion opportunities and develop new growth strategies such as cross-selling initiatives within the Corporation and employee recruitment programs.
Keith Klein assumed his role as executive vice president and chief operating officer on Jan. 1. Klein joined PrimeLending in 2007 as chief financial officer and will also retain his chief financial officer duties until a replacement is found. During his time with PrimeLending, Klein has improved commission structure, reporting and evaluation models and has also played a pivotal role in assessing new federal regulations within the mortgage industry.
For more information, visit www.PrimeLending.com.