Countrywide appoints new presidents

January 5, 2004

Former executive managing director Stanford Kurland climbs ladder to head parent company

Inman News

Countrywide Financial Corp. today announced the appointments of Stanford L. Kurland to president of Countrywide Financial Corp. and David Sambol to president and chief operating officer of Countrywide Home Loans.

Kurland, who has been with Countrywide for more than 24 years, has been one of the leading forces in formulating and executing Countrywide's financial and operational strategies. He most recently held the positions of executive managing director of CFC and president of CHL and will retain his title as chief operating officer of CFC. In his new role, 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.

Throughout his tenure with Countrywide, Sambol has played a critical role in establishing Countrywide in the mortgage banking industry and the mortgage-backed securities brokerage and trading businesses. In his new role as president and COO of CHL, Countrywide's largest subsidiary, Sambol will direct all operations for Countrywide's domestic and international mortgage lending and servicing activities. He will also continue his responsibilities as executive managing director of mortgage banking and capital markets for the parent company.

Countrywide Financial Corp. (NYSE: CFC) provides mortgage banking and diversified financial services in domestic and international markets. Countrywide Home Loans Inc. originates, purchases, securitizes, sells and services primarily prime-quality loans.

Copyright: Inman News Features

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