JPMorgan Chase promoted Priscilla Almodovar, the former head of the New York State Housing Finance Agency, and commercial lending vet Chad Tredway to lead the bank’s real estate lending business, the bank announced.
Almodovar served as the HFA’s CEO from 2006 to 2009 and was credited for reforming the agency, which funds affordable housing projects. She joined JPMorgan Chase in 2010 and most recently headed the bank’s community development banking division.
Tredway joined the bank in 2008 and most recently led the bank’s commercial term lending business for the eastern U.S.
The two will succeed Tom Lawyer.
JPMorgan Chase was the third most active commercial real estate lender in New York in 2016, according to research company CrediFi, originating more than $5 billion in loans. The bank claims to hold $90 billion in commercial real estate loans on its books, and was the country’s most active CMBS lender in 2016, according to Commercial Mortgage Alert.
JPMorgan Chase also promoted Alice Carr to replace Almodovar as head of community development banking. She most recently managed the bank’s community development teams in the western and southern U.S.