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Countrywide Promotes Key Executives.
Countrywide Financial Corp. here has promoted Stanford L. Kurland to president, and the long-time executive has reconfirmed Countrywide's commitment to the mortgage business even as it continues to diversify.
At the same time it named David Sambol as president and chief operating officer of its subsidiary Countrywide Home Loans.
In a separate announcement, Countrywide, the nation's third largest mortgage servicer with a $608 billion portfolio at the end of the third quarter, announced it is replacing its current auditor Grant Thornton with KPMG effective for the 2004 calendar year.
Mr. Kurland will retain his title of chief operating officer of Countrywide. He had been serving as executive managing director of Countrywide Financial Corporation and president of Countrywide Home Loans.
In his role as president of CFC, Mr. Kurland will lead the development and execution of the company's strategic plans and objectives and will direct all corporate and subsidiary operations. He will also oversee the company's asset/liability and investment, hedging and interest rate risk management activities.
In an interview, Mr. Kurland noted that much of his role remains the same as it had been as COO of Countrywide.
The direction of Countrywide will remain much as it has been, making an evolution to being a diversified financial services company, not just a mortgage lender.
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Source: HighBeam Research, Countrywide Promotes Key Executives.