Crown Mortgage Management said Eric Stoclet will take over as the its CEO effective Feb. 1, following the departure of Steve Haggerty who is leaving the company to pursue other opportunities.
Stoclet is currently advising Crown and Forum Partners, a substantial investor in Crown, on the restructuring of the Crown group’s European holdings. Before that, he was group executive director at Noor Investment Group in Dubai and, until April 2007, worked for Citigroup for over 25 years, holding a number of senior positions in the U.S., Europe, North Africa and Latin America.
Throughout his career, Stoclet has been associated with various aspects of the real estate industry, including commercial and residential financing, loan portfolio purchases and sales, and management of nonperforming loans. He has also managed substantial businesses at Citigroup and has broad experience in investment banking and all aspects of credit including origination, workout/restructuring and administration.
Stoclet will lead the next stage of Crown’s growth, advising and helping holders of mortgage assets that wish to clean up their balance sheets, facilitating secondary market sales of portfolios, and providing top quality servicing and workout offerings to existing and future clients.
Julien Holmes continues as chief operations officer and Peter Walker as director of the company.
Paul Marks still be the firm's non-executive director and will provide strategic support to Stoclet and the management team.
Russell Platt, CEO of Forum Partners and Richard Cotton, also at Forum Partners and a former managing director at JPMorgan/Cazenove, are also slated to join the board.