Back in 2015, The J.G. Wentworth Company, the purchaser of structured settlement payments, annuity payments, lottery payments and other receivables that rose to fame with the “It’s my money and I want it now” advertising campaign, surprised many in the mortgage business by becoming a mortgage company itself.
J.G. Wentworth accomplished this transition by acquiring WestStar Mortgage, a privately held residential mortgage company.
The expansion was overseen by Stewart Stockdale, who served as J.G. Wentworth’s CEO since 2014.
Now, the company is ready to move into its next phase by reorganizing its corporate structure and naming a new CEO.
J.G. Wentworth announced Friday that it is naming Randi Sellari as its CEO, specialty finance. Sellari replaces Stockdale, who recently guided the company through a re-organization via Chapter 11 bankruptcy.
Sellari previously spent nearly 20 years at J.G. Wentworth, serving in a variety of leadership roles, including chief financial officer, president, and chief operating officer.
Now Sellari is returning to J.G. Wentworth, where she will oversee all corporate functions of the company and report to the board of directors on the company’s structured settlements, prepaid cards and personal and business loans divisions.
“We are excited to welcome Randi back to our executive team,” said David Miller, chairman of the board. “Randi’s institutional knowledge, depth of industry expertise and leadership skills make her uniquely qualified to lead the company successfully into the future.”
Sellari said that she is “thrilled” to be returning to J.G. Wentworth. “I look forward to working closely with teams across the organization to bring our world-class financial products and services to more customers,” Sellari added.
Fully taking the reins of the J.G. Wentworth’s mortgage business will be Phil Buscemi, who serves as the president of J.G. Wentworth Home Lending. Buscemi will report directly to the board on behalf of the company’s expanding mortgage lending division, effective immediately.
“J.G. Wentworth Home Lending continues to experience record growth in loan originations and operational capacity,” Miller said. “This new reporting structure will support our efforts to sustain the company’s progress in the home lending space. More broadly, it will give our many divisions the focus and flexibility they need to maximize their potential.”