Shore Financial Services Inc., the parent company of United Wholesale Mortgage (UWM), has hired Michael Kaysen as its new chief operating officer. Kaysen will be responsible for operations across the retail, consumer direct lending and third-party origination (TPO) businesses and will report to Shore Financial's CEO, Kip Kirkpatrick.
"Mike Kaysen is a proven expert at creating operational efficiencies at leading financial services providers," Kirkpatrick said. "He is well-positioned to help us take advantage of the unprecedented opportunities that will arise as the mortgage lending industry emerges from the current business cycle. Mike's hiring represents Shore Financial's commitment to quality as we put together an agile, powerful management team that sets a new standard for the industry."
Kaysen joins a strong group of experienced executives hired by Shore Financial since Kirkpatrick, a successful investor in highly regulated industries, was named CEO in April. Since then, the company has also hired financial analyst Mike Jones as its chief financial officer; mortgage banker David Hall as president of Shore Mortgage, the company's retail mortgage division; corporate attorney Mike Castleforte as general counsel and head of business development; Bob Fuller as head of underwriting; regulatory compliance expert Susan Pelto as chief compliance officer; and experienced mortgage executive Greg Pappas as head of capital markets.
"It's an important time to be joining Shore Financial," Kaysen said. "This company has the financial resources, management talent and vision to capitalize on the current market opportunities and deliver significant growth. Building on Shore Financial's strengths, we have a unique opportunity to combine exceptional customer service and a high degree of operational efficiency."
Kaysen has held executive positions with PricewaterhouseCoopers LLP, New Vista Group, A.T. Kearney and Accenture. He holds a Masters in Management degree from the Kellogg School of Management at Northwestern University, and a B.S. in computer science and mathematics from Northern Illinois University.
"Over the next 12 to 24 months, we plan to double our employee base from 500 to over 1,000," Kirkpatrick said. "This plan is consistent with our intent to become one of the largest independent mortgage banks in the U.S. Our senior management team, including these talented and highly capable new hires as well as other proven experts from Shore itself, brings the right combination of expertise to make our vision a reality."