LAHA news.
Monday April 29, 8:37 am Eastern Time
Press Release
SOURCE: Lahaina Acquisitions, Inc.
Lahaina Appoints David Colwell as Chief Operating Officer
DENVER, April 29 /PRNewswire-FirstCall/ -- Lahaina Acquisitions, Inc. (OTC Bulletin Board: LAHA - news) announced today that it has appointed David Colwell as Chief Operating Officer. Colwell brings more that 17 years of experience in operations, consulting and investment banking within the Financial Services Industry to Lahaina. For the last three years David has led various engagements with Wells Fargo Bank, and RBMG/Net Bank, focusing on Technology enablement, Strategic Planning and Operations Improvement Initiatives.
Dan Moudy, President and CEO of Lahaina commented, "We are extremely pleased that David decided to accept the position of COO of Lahaina. David has been involved in a consulting capacity with Lahaina for the past 15 months and has been a catalyst for improving operations and increasing volume. David's near term focus will be to lead Lahaina in the acquisition and integration of targeted mortgage origination companies. In addition, he will help improve our operations and sales platforms in order to drive substantial increases in volume and improve profitability. We feel confident that David's in-depth mortgage industry experience coupled with his existing knowledge of our current operations makes David a perfect fit for our company."
David Colwell, the new COO of Lahaina commented, "The reason I decided to accept the position with Lahaina is that I feel their operations and technology platforms are 'best-in-class' for a mortgage banking company. Therefore, Lahaina is perfectly positioned for rapid growth via internal retail and wholesale channel expansion as well as external growth through acquisitions. Our value proposition objectives will be to provide outstanding service to our customers with loan turnaround times faster than anyone in the industry. Outstanding service coupled with an expanded product array will fuel rapid, and profitable growth for Lahaina."
David Colwell is the founder and CEO of the SDDC Group, a mortgage industry-consulting firm focused on strategic planning, technology enablement and operations improvement. He is widely recognized as leader in the mortgage industry and has spoken at various conferences on behalf of the MBAA and Western Savings Leagues. Colwell launched his career in the financial services industry as a senior auditor of investment banking clients. His ability to manage large engagements coupled with his financial analysis expertise lead to his successful transition into the investment banking industry. He held the position of Vice President of Mergers and Acquisitions of two separate West Coast firms. He then moved into management consulting where he advised firms on ways to improve economic modeling, strategic planning, and merger and acquisition service offerings. Colwell has managed over 30 consulting projects for Fortune 50 Clients focused on e-commerce utilization, strategy development, and business modeling.
About the Company
Lahaina currently operates a multi-state banking operation through United Capital Mortgage Corporation and Cross Keys Capital Corporation, wholly owned subsidiaries, and has a national on-line mortgage presence at www.ucmc.net . The goal of the Company is to become a national leader in the mortgage banking industry by continuing to (i) expand its business internally by increasing same branch office originations and opening new offices; (ii) expand externally by Acquiring existing mortgage operations and (iii) increase overall loan productivity by employing new and conventional Internet-based technology.
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Lahaina Acquisitions, Inc. actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors, including those identified in Lahaina Acquisitions, Inc. Annual Report on Form 10-K for the fiscal year ended September 30, 2001 and its Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
For further information please contact: Ron Both of Liolios Group, +1-949-574-3860, ron@liolios.com, for Lahaina Acquisitions, Inc.
SOURCE: Lahaina Acquisitions, Inc. |
