NewDay USA LLC has announced that Rear Admiral Tom Lynch (U.S. Navy, retired) will serve as chairman of the board of directors of NewDay USA. Admiral Lynch succeeds outgoing chairman Bruce Giacoma, who remains on the company’s board of directors and continues to serve as managing director of secondary marketing and capital markets.
“I am delighted and proud to accept the chairmanship of this company,” said Admiral Lynch. “There is potential for enormous growth in government mortgage originations and NewDay USA has all of the components needed to succeed: Unsurpassed information technology, superior risk analytics, and lending industry expertise that reflects breadth and depth of experience. Most important, this company has a driving passion to serve military families, seniors and hard-working American homeowners.”
After a 31-year career in the U.S. navy, which included command of the Eisenhower Battle Group during Operation Desert Shield and Superintendent of the U.S. Naval Academy, Admiral Lynch retired from the Navy with the rank of Rear Admiral in 1995. Following his retirement from the Navy, Admiral Lynch held senior executive leadership positions at Safeguard Scientifics, CompuCom Systems and The Staubach Company and has served as a director of several private and publicly held companies.
“Tom Lynch is an exceptional leader who will guide NewDay USA’s board as the company continues to pursue its vision and strategies for growth. Tom will bring the experience and leadership skills he gained during his 31-year Naval career, as well as his private sector experience, which includes private equity investment, financial services, and defense-related industries, as well as publicly and privately held companies,” said Robert Posner, chief executive officer of NewDay USA. “On behalf of everyone at NewDay, I offer sincere thanks to Bruce Giacoma. We can’t possibly offer sufficient praise for his efforts during his three-year term as chairman of the board. His perspectives and insights have been fundamental to our growth and execution of our strategic plans for success. We are honored that he remains on the board and will continue to provide his expertise in secondary marketing and capital markets.”