Denmar J. Dixon is reportedly resigning from his position as CEO and vice chairman for mortgage banking firm Walter Investment Management Corp. but will continue in an advisory role.
George M. Awad, a veteran consumer finance executive who has held senior roles at General Electric (GE) and Citigroup, has been named executive chairman and interim CEO of the company, effective June 30, according to a release.
In addition, Daniel G. Beltzman will step down as chairman but will remain on the board of directors.
Awad, a principal at the wealth management firm Gibraltar Capital, is a veteran consumer finance executive with more than two decades of experience at GE and Citigroup. He held multiple leadership positions at Citibank, including CEO of Global Consumer Bank in Europe, the Middle East and Africa. His other roles at Citi included CEO of North America Cards and CEO of Consumer Finance for Citi Holdings, where he oversaw a successful turnaround.
Before joining Citi, Awad spent 18 years at GE, where he helped lead GE Money to significant organic earnings growth. There, he managed an expansion effort that led to the addition of more than 2,000 branches and the introduction of numerous valuable new products. His previous positions at GE included general management; business development; and sales roles throughout the U.S., Asia and the U.K.
“As we continue with our transformation of the company, we believe Walter will benefit greatly from George’s leadership,” Beltzman says in a statement. “We are fortunate to have an executive of George’s caliber and experience join the team to guide Walter through the next stages of its transformation.”