Rockwood President Dan McNulty, CW Financial Services CEO Charles Spetka and CW Capital CEO Michael Berman
CW Financial Services, the parent firm of loan servicing giant CW Capital, said it has hired several new executives who will lead the firm’s expanded line of financial services, including mezzanine, bridge and permanent financing.
The move comes just weeks after its acquisition of Manhattan-based Rockwood Real Estate Advisors earlier this month, which offers a variety of loans backed by Fannie Mae, Freddie Mac and the Federal Housing Administration.
Leading the new team of executives will be its new managing director, Greg McManus, the former CEO at Ventras Holdings and CFO at CapMark Holdings. He will report directly to CW Capital CEO Michael Berman and Rockwood president Daniel McNulty.
Joining McManus will be Larry Kligman as senior vice president, a veteran loan origination specialist; senior vice president Eric Baum, a long-time loan originator; and vice president Dennis Owen, whose background includes loan origination.
“These enhancements create a more complete menu of client services designed to satisfy the multi-dimensional needs of our clients,” said Charles Spetka, CEO of CW Financial Services.
Ben Thypin, senior market analyst at Real Capital Analytics, said the changes are just part of a trend launched before the financial crisis.
“If you’re brokering a sale why should you not broker a loan?,” Thypin said. “Presumably it would lead to a lower amount of fees overall.”
Cushman and Wakefield announced plans earlier this month to partner with Walker & Dunlop to arrange multi-family financing.
The firms are better positioned to compete against competitors like Meridian Financial, which has an affiliation with Beech Street Capital, which offers Fannie and Freddie backed loans.