Shore Financial Services Inc. has announced the appointment of Michael Jones as its chief financial officer. Jones, who has 25 years of experience in the mortgage and financial services industry, is joining Shore Financial's growing management team at a time when the company is focusing on new opportunities in the financial services marketplace.
Just one month ago, the company named financial services executive Kip Kirkpatrick its new chief executive officer. Kirkpatrick, a successful investor in highly regulated industries, is focused on building Shore Financial's resources and expanding its national profile.
"Given the recent changes in the mortgage lending industry, this is a time of opportunity for well-capitalized companies to position themselves for future leadership," Kirkpatrick said. "In the weeks since I have joined the company, my opinion that Shore Financial is the best-kept secret in the industry has been confirmed. Mike Jones has the right skills, drive and experience to help me and the rest of the management team at Shore Financial as we continue to evaluate new opportunities and build momentum."
Jones most recently served as executive vice president and chief financial officer at Mortgage Assurance Corporation, a start-up mortgage insurance company in Wisconsin, and previously as CFO for an industry-leading specialty finance company in Denver. From 2002 to 2006, Jones served as senior vice president of finance for Lehman Brothers Global Mortgage Operations in New York. By 2006, Lehman Brothers Mortgage had grown to more than 3,000 employees, with originations exceeding $50 billion annually. Previously, Jones served as VP of financial analytics for Wells Fargo Home Mortgage in Colorado and California.
"I have never seen a company better positioned to take advantage of opportunities in this space," Jones said. "Shore Financial's combination of infrastructure, financial resources and management talent positions the company to lead the industry. I look forward to working with Kip over the coming years to help Shore Financial take full advantage of its potential."
Jones, who graduated from the University of Iowa with an MBA in Finance, is also a CFA charterholder.