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Mount Street appoints MD to new role in U.S. loan servicing

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Mount Street Group hired Dean Wheeler as managing director and head of U.S. operations, as it aims to double its current share of the U.S. commercial real estate (CRE) loan servicing business.

Mount Street has a strategic partner in Mission Peak Capital, and the firm hopes to double its assets under management from its current $36.3 billion in AUM, according to a company statement. Wheeler will oversee all loan servicing, asset management and special servicing activity, while expanding the team and implementing fintech strategies around Mount Street's CreditHub solution, its proprietary lending app.

Mount Street Group

Overseeing large enterprises is not new to Wheeler, who ran a $160 billion-plus, 8,000-loan CRE servicing business, in a hub of 300 people while he was head of servicing and asset management operations at SitusAMC. After that, he founded True North Performance Solutions, the software and consulting advisory business where he was president.

"Dean will be instrumental in helping us achieve our growth ambitions in the U.S., where the CRE market is currently dominated by a handful of players, but which is ripe for disruption as a result of technological and demographic shifts," according to a statement from Paul Lloyd, co-founder and chief executive officer of Mount Street. "His track record scaling businesses will be critical as we look to enhance and improve our infrastructure and rapidly grow our assets under management."

Mount Street Group

Mount Street's announcement about Wheeler comes shortly after it said it promoted Serenity Morley to the global chief operating officer, in another newly created role. Morley will coordinate the business' overall growth strategy across all areas of loan servicing and asset management and benefiting its 11 offices worldwide, according to an earlier company statement.

Founded in 2013, Mount Street Group says it offers a fully contained range of outsourced credit solutions—using technology drive origination, loan administration, portfolio, restructuring and workout services—that support a range of industries, including structured finance, according to the company's website.

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Commercial real estate lending Servicing Fintech
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