Walter Investment Management Corp. has named Jerry Lombardo CFO and Jeff Baker COO.
Lombardo will succeed Executive Vice President and CFO Gary Tillett, who will retire in 2018. Previously, Lombardo served as a managing director and treasurer of the consumer and community bank at JPMorgan Chase & Co.
Baker is expanding his duties beyond president of Reverse Mortgage Solutions Inc. and will be in charge of Ditech Financial LLC's performing and default servicing operations. His appointment as COO is effective immediately.
The executive changes came after Walter Investment Management filed for a voluntary Chapter 11 petition to execute a prepackaged financial restructuring plan. The company's operating entities, Reverse Mortgage Solutions and Ditech Financial, will not file for Chapter 11.