As promised during its third-quarter earnings call, Mr. Cooper Group has found a new president.
Mike Weinbach will start on February 1 and be responsible for leading the company’s operations, including originations, servicing and technology.
“I have long admired Mr. Cooper’s impressive record of growth and profitability as well as their commitment to the customer experience, and I am thrilled to hit the ground running with this fantastic team," Weinbach said.
With more than 25 years' experience in the financial services industry, Weinbach recently served as CEO of Consumer Lending for Wells Fargo and as a member of the firm's Operating Committee, responsible for leading more than 40,000 team members focused on Home Lending, Auto Lending, Credit Cards, Merchant Services, Student Lending and Personal Lending. Previously, he served as CEO of Chase Home Lending at JP Morgan Chase, where he also held leadership roles in Consumer Banking, Business Banking, Mortgage Servicing and Auto Finance, with oversight of sales, finance and operations.
“I am delighted to welcome Mike to Mr. Cooper Group. His extensive background in consumer lending and financial services as well as his people-first approach will be a great fit for our team as he helps lead the company forward on the next phase of our journey,” said Jay Bray, chairman and CEO of Mr. Cooper Group.
Chris Marshall, who currently serves as vice chairman and president, will remain with Mr. Cooper Group to assist with the transition and oversee fundraising for the company’s MSR fund. As previously disclosed, Chris will retire at the end of 2024.
