Personnel News From NorthMarq, Walker & Dunlop, KBRA
Eduardo Padilla to Retire After Nearly 30 Years With NorthMarq
Eduardo Padilla, Executive Chair of NorthMarq, announced he is retiring May 14 after nearly 30 years with the company.
Padilla served as chief executive officer from 1999 to 2019, guiding the company’s growth from $3.5 billion in transaction volume to $16 billion at year-end 2020, and loan servicing volume from $10 billion to $65 billion. Padilla became executive chair in January 2020 when Jeffrey Weidell was promoted to CEO.
“As I think of all the key moments in our company history, nothing compares to the date in 1999 when we sold Northland Financial to the Pohlad family. One year later, I was given the business opportunity of a lifetime when the Pohlad family promoted me to CEO of the newly formed NorthMarq,” said Padilla. “I have no doubt that our employee-first culture and our competitive nature will continue to be combined with our high ethical standards. We are a company that creates careers and changes lives, and I’m hopeful that will be our legacy.”
Under his leadership, the company completed 15 acquisitions starting with the largest, Legg Mason, in 2003. The company grew to nearly 600 employees in 40 locations.
“Ed brought us all together to become a unified NorthMarq and helped create the environment where people stay for their careers, quite a testament to his leadership. We will miss his stewardship and insights,” said Weidell.
Padilla has been deeply committed to the Twin Cities community, where he served as chair of CommonBond Communities Board after 10 years on the CommonBond Board of Directors. CommonBond Communities is the Midwest’s largest nonprofit provider of affordable housing with services and has developed, owns, or manages 5,000 affordable rental apartments and townhomes throughout 50 cities in Minnesota, Wisconsin and Iowa. He is a former board member of CornerHouse, an interagency child abuse evaluation and training center in Minneapolis. In addition, he has served on the board of the Neighborhood Development Center in St. Paul, which works in low-income neighborhoods to support resident-owned small businesses.
Before being promoted to CEO in 1999, Padilla served as NorthMarq’s Executive Vice President and Regional Managing Director. He joined NorthMarq’s predecessor Northland Financial in 1991 as a producer and managing director of the Minneapolis regional office. He obtained his B.A. from the University of Minnesota and his J.D. from the William Mitchell College of Law.
Walker & Dunlop Investment Partners Adds Managing Director Marcus Duley to Investments Team
Walker & Dunlop Investment Partners hired Marcus Duley as Managing Director. He will be based in the firm’s Philadelphia office, where he will lead investment transaction execution for WDIP’s equity and debt investment vehicles.
Duley brings over 20 years of experience to WDIP, previously serving as Managing Director at LEM Capital, an institutional real estate private equity fund manager focused on value-add multifamily equity investments. During his time at LEM, Mr. Duley led the company’s portfolio management and investment transaction execution functions. He was directly responsible for coordinating, negotiating and providing oversight for all investment-related transactions including acquisitions, financings and dispositions for over $3 billion of real estate. Mr. Duley also was a member of LEM’s Investment Committee and Valuation Committee.
Prior to LEM Capital, Duley was a Vice President at LEM Mezzanine, the predecessor firm to LEM, which originated and invested in structured commercial real estate debt. In this position, he managed the underwriting, due diligence, loan documentation, intercreditor/co-lender agreement documentation and closings of $360 million of primarily subordinated debt investments in $2.6 billion of real estate. Additionally, he was responsible for loan workouts and restructuring for special assets.
KBRA Announces Senior Management Changes
KBRA, New York, announced changes to senior management.
Patrick Welch was named Chief ESG & Ratings Policy Officer effective May 1, 2021. In this newly created role, he will lead all aspects of KBRA’s commitment as an ESG-focused firm, delivering to investors the highest-quality credit analysis and research. Welch previously served as KBRA’s Chief Credit Officer for the last five years.
Lenny Giltman, Senior Managing Director was named Chief Credit Officer effective May 1, 2021. He previously led KBRA’s Ratings Legal team where he served for eight years. John Hogan, Managing Director in KBRA’s London office, will assume Lenny’s role as Head of KBRA’s Ratings Legal.
KBRA also made management changes in its affiliate, KBRA Analytics, which is the group’s product platform for data and advanced analytics. Kate Kennedy is currently KBRA’s Co-Head of Business Development and oversees its Marketing & Communication areas, the latter of which she has led since the firm’s inception. Her role has been expanded to include oversight of KBRA Analytics.
Steve Kuritz, Senior Managing Director, was recently named Head of KBRA Analytics. In his new role, he will drive the company’s efforts in delivering data and analytics to the global financial community. Previously, Kuritz led the KBRA Credit Profile team, which is responsible for the company’s CMBS surveillance subscription service. In addition to KCP, in his new role Kuritz will also oversee initiatives for other KBRA Analytics products, which include KBRA Financial Intelligence, KBRA Altman and its Ratings Feed platform.
Lastly, Caitlin Colvin was named as Head of Investor Relations, leading KBRA’s customer service for institutional investors. She has served in an investor relations role for the past two years and previously was a member of the Ratings Legal team with a focus on Asset-Backed Securities. She has been with the firm since 2015.
Bellwether Enterprise Appoints Ryan Stoll National Director of Seniors Housing and Care
Bellwether Enterprise Real Estate Capital LLC, Cleveland, hired Ryan Stoll as National Director of Seniors Housing and Care.
Stoll will create a specialized production team and the development and implementation of a growth strategy for Bellwether Enterprise’s seniors housing mortgage lending platform. He will be based in the firm’s Denver office.
Stoll has nearly a decade of experience working in seniors housing finance and has originated $2 billion in seniors housing capital markets transactions throughout his career. Before joining Bellwether Enterprise, Stoll served as the Executive Director of National Senior Living at Fifth Third Bank, where he had primary production responsibility for the launch of the national senior living group. He also previously served as Vice President of Healthcare Real Estate Finance at Commerce Bank, where he originated over $300 million in seniors housing and skilled nursing loans.
KBRA Announces Senior Management Changes
KBRA, New York, announced changes to senior management.
Patrick Welch was named Chief ESG & Ratings Policy Officer effective May 1, 2021. In this newly created role, he will lead all aspects of KBRA’s commitment as an ESG-focused firm, delivering to investors the highest-quality credit analysis and research. Welch previously served as KBRA’s Chief Credit Officer for the last five years.
Lenny Giltman, Senior Managing Director was named Chief Credit Officer effective May 1, 2021. He previously led KBRA’s Ratings Legal team where he served for eight years. John Hogan, Managing Director in KBRA’s London office, will assume Lenny’s role as Head of KBRA’s Ratings Legal.
KBRA also made management changes in its affiliate, KBRA Analytics, which is the group’s product platform for data and advanced analytics. Kate Kennedy is currently KBRA’s Co-Head of Business Development and oversees its Marketing & Communication areas, the latter of which she has led since the firm’s inception. Her role has been expanded to include oversight of KBRA Analytics.
Steve Kuritz, Senior Managing Director, was recently named Head of KBRA Analytics. In his new role, he will drive the company’s efforts in delivering data and analytics to the global financial community. Previously, Kuritz led the KBRA Credit Profile team, which is responsible for the company’s CMBS surveillance subscription service. In addition to KCP, in his new role Kuritz will also oversee initiatives for other KBRA Analytics products, which include KBRA Financial Intelligence, KBRA Altman and its Ratings Feed platform.
Lastly, Caitlin Colvin was named as Head of Investor Relations, leading KBRA’s customer service for institutional investors. She has served in an investor relations role for the past two years and previously was a member of the Ratings Legal team with a focus on Asset-Backed Securities. She has been with the firm since 2015.
