First Preston Housing Solutions today named Michele John Kelaart president. “Michele brings a global investment perspective to First Preston’s operations and will deliver the portfolio strategies and solutions our clients need to make a positive difference in their performance,” said Nancy T. Richards, CEO of First Preston, a nationwide REO marketing, management and real estate advisory services company. For more than 18 years, Kelaart served as the managing director of CarVal Investors. CarVal is a privately owned investment management company in which Kelaart was responsible for the U.S. residential strategy — including distressed residential mortgages, REO inventories and residential development. Kelaart founded FourSquare Real Estate Services and served as president from June 2009 until September 2010. FourSquare is an investment management company aimed at providing a high level of REO management by minimizing holding times and maximizing net returns. First Preston recently received two Pinnacle Awards for Best Outsourcer and Best Listing Practices. Kellart said that her decision to lead First Preston is based on the company’s “record of accomplishment over the past 22 years and the innovative technology and strategies that simplify the short sale process and maximize the value of their client’s REO inventories.” Ariana Garza is an editorial assistant at HousingWire.