Kinecta Federal Credit Union of Manhattan Beach, Calif., has hired Jess Lederman, a former Bear Stearns executive who recently departed as chief risk officer of Countrywide Financial Corp. (CFC)

According to a press release issued by the CU, Lederman will serve as senior vice president and chief credit officer.

On July 1, CFC was bought by Bank of America. Lederman will oversee Kinecta's credit policy, analytics, and loan underwriting for commercial, real estate and consumer lending. He also will have responsibility for portfolio management and secondary marketing.

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