ResCap's Neary Resigns, Glassner Assumes EVP Role
Residential Capital's executive vice president and senior managing director, Thomas Neary, resigns effective July 31. ResCap operates GMAC's residential mortgage business, including the GMAC Mortgage and Ditech brands. Neary joined the company in June 2008, after serving as executive vice president and head of mortgage capital markets at Wells Fargo (WFC) and other senior positions with Bank of America (BAC) and BancBoston Mortgage. ResCap said Neary’s departure is voluntary and for personal reasons. “We commend Tom for his leadership, and regret that we will be losing an exceptional manager and colleague,” a ResCap spokesperson told HousingWire. Neary will assist in the transition of his successor, Adam Glassner. Glassner will continue his previous role leading ResCap’s correspondent and warehouse lending group, as well as take on his new role of managing business risk for the lender’s mortgage servicing rights and oversight of ResCap’s pipeline hedging activities. Glassner joined GMAC earlier this year after spending 10 years in a variety of positions at Bank of America. Write to Austin Kilgore.