Cenlar FSB, a mortgage loan subservicer and federally chartered wholesale bank, has removed the co-CEO title from D. James “Jim” Daras. On Monday it announced he has been named president and CEO.
In the summer of 2022, Daras and Executive Vice President and Chief Operating Officer Robert “Rob” Lux were appointed co-CEO after Chairman of the Board, President and CEO Greg Tornquist announced his retirement. Lux will continue in his role of COO reporting to Daras.
Daras has more than 40 years in the banking and mortgage banking industry. He has extensive knowledge in risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital investing.
He worked for Cenlar from 1985 to 1990, leaving his post as chief financial officer to join Dime Bancorp in New York City. Until returning to Cenlar in 2015, Daras worked with several venture capital firms investing in financial services companies, including Loan Servicing Solutions in 2007, where he served as CEO. Daras was executive vice president and was appointed chief risk officer at Cenlar. In 2019, he moved to an advisory capacity before returning full-time to manage the company’s banking functions. He joined Cenlar full-time in 2022 as executive vice president to manage the company’s banking functions.
“I am thrilled and honored to have been named CEO at this point in Cenlar’s journey. Cenlar was built on collaboration, expertise, client and homeowner care, and the ability to transform itself during each part of its journey, and I am confident in Cenlar’s long-term success,” said Daras.
Cenlar FSB is a federally chartered, employee-owned wholesale bank, servicing loans in 50 states and its U.S. territories. It is headquartered in Ewing, N.J.
