Finance of America CFO resigns, Engel to assume role in November

No reason was given for Johan Gericke’s resignation, effective Oct. 13, but his successor is already lined up

Finance of America Companies (FOA), the parent company of industry-leading lender Finance of America Reverse (FAR) and the American Advisors Group (AAG) brand, announced on Monday that Chief Financial Officer Johan Gericke is resigning from the company effective Oct. 13, according to an 8-K filing with the Securities and Exchange Commission (SEC).

“On September 26, 2023, Mr. Johan Gericke, the Chief Financial Officer of Finance of America Companies Inc., notified the Company of his resignation,” the filing read.

Taking Gericke’s place on an interim basis will be Graham Fleming, the company’s CEO, who will take on the CFO responsibilities until Nov. 15. At that point, Matt Engel — who served as AAG’s CFO from 2014 to 2023 — will assume the CFO position with FOA.

Engel previously held senior positions in accounting and finance at companies including Newmark Knight Frank, H&R Block, Inc. and DST Systems, Inc.

When reached, FOA CEO Graham Fleming lauded Engel’s experience with the reverse mortgage business.

“Matt is a seasoned financial leader who brings deep reverse mortgage industry expertise that aligns with Finance of America’s focus on offering modern home equity retirement solutions for older Americans,” Fleming told RMD in an email. “We are excited to welcome him to the team.”

Prior to joining FOA as CFO in 2021, Gericke served in various CFO positions at Capital One between 2011 and his departure 10 years later. He also served in senior roles at Wells Fargo for the previous seven years, along with finance and private equity roles at other companies between 1997 and 2003.

As CFO, Gericke helped to oversee major company changes at FOA, including the closure of its forward mortgage business, Finance of America Mortgage, and the asset acquisition of AAG that transformed FOA/FAR into the reverse mortgage industry’s leading player virtually overnight.

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