Finance of America Companies Inc. has announced that its CEO Patricia L. Cook has informed the Board of Directors of her decision to retire. Cook will continue to serve as CEO of the company until a successor is appointed, and it is expected that she will remain a member of the Board of Directors through the date of the company’s 2022 Annual Meeting of Stockholders.
“On behalf of the Board, I want to thank Patti for her countless contributions to Finance of America over the past six years,” said Brian L. Libman, Chairman of the Board of Directors for Finance of America. “As President and CEO, she has been a visionary and unifying force across the entire enterprise playing important roles in our evolution into a public company. More recently, Patti laid the groundwork for the implementation of our long-term strategic roadmap that focuses on optimizing the business, driving growth, and increasing enterprise value to the benefit of all stakeholders. Patti’s efforts have served to strengthen our competitive position in the market and set us up to achieve enduring success.”
Cook has been with Finance of America for six years, serving as its CEO since October 2020. She joined the company as Senior Managing Director in March 2016, and was elevated to President in March 2017.
“It has been an honor and a privilege to lead this dynamic, visionary organization,” said Cook. “My time at Finance of America has been the crowning achievement of my career. I am so proud to have played a role in building this purposefully different consumer lending platform with the broadest range of products and services designed to help a diverse consumer base. I want to thank our amazing team of talented and committed professionals who work tirelessly to the benefit of our customers, investors, and the industry.”
Prior to joining the Company, Cook served as President of Ditech Financial LLC from February 2013 to February 2016, and EVP of Green Tree Servicing (now Ditech Financial LLC) from January 2009 to February 2013. Before Green Tree, Cook served as EVP and Chief Business Officer of Freddie Mac, and Chief Investment Officer for JPMorgan and Chief Investment Officer for Prudential Investment Management, and began her career at Salomon Brothers in 1979.
“I’m committed to ensuring a smooth transition during this process,” said Cook. “I will continue to lead Finance of America until my successor is found who will drive the execution of the long-term growth strategy we’ve laid out for the company.”
Under Cook’s guidance, the company grew to more than 5,000 employees across 300 global offices, and has achieved record revenue growth across all business segments.
“I’m proud of everything that I’ve accomplished throughout my 40-year long career,” said Cook. “Now, I’m ready to embark on a new chapter in life including spending more time with family, especially my grandchildren.”