Chase Consolidates Leadership of Mortgage Operations
Chase announced Tuesday that it has tapped David Lowman to head all of the company's mortgage operations. Lowman, who joined Chase as CEO of Global Mortgage in November, will take on the additional responsibility of leading the company's home equity, servicing and default operations, bringing together all of Chase's consumer real estate lending businesses into one organization. â€œDave has spent the last two months getting to know our business, and is already working on ways to apply his experience to take advantage of our opportunities,â€? said Charlie Scharf, CEO of Retail Financial Services. Lowman, who has worked in lending and mortgage businesses for 25 years, had been president and CEO of CitiFinancial International since 2004. He worked for 11 years at Prudential Home Mortgage, serving as CFO and in key roles in mortgage operations and wholesale lending, and on re-engineering and conversion initiatives. He joined CitiMortgage in 1996 and was promoted to President and COO in 1998. In 2000, he was name Chief Servicing and Technology Officer for the Citigroup's U.S. Mortgage Business. Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co.