Wednesday May 12, 11:14 am Eastern Time
Company Press Release
SOURCE: Mortgage Bankers Holding Corp.
Mortgage Bankers Holding Corp. Announces Nominees for Chairman, Board of Directors
PITTSBURGH, May 12 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin Board: MBHC - news) today announced the nomination of a new chairman and six other new members of its board of directors.
''The success and credibility of our nominees are self-evident, and speak volumes about the future of MBHC,'' said Kevin P. Maloney, President of MBHC, a Pittsburgh, Pennsylvania-based company which operates diverse financial services and related businesses.
Royce N. Flippin, Jr., the board nominee who is also nominated to be Chairman, is President of Flippin Associates, a consulting firm that focuses on the development of resources, programs, new markets and human resource management for career planning, communication and leadership skills. He is also a network partner of The Sullivan Group, a division of Smith Barney. A Princeton graduate with a Harvard MBA, Flippin was a Professor and Director of Athletics at Massachusetts Institute of Technology from 1980 to 1992, and currently serves as Director of Program Advancement at MIT, providing consulting services to the MIT Office of Individual Giving -- Resource Development.
Mr. Flippin is a trustee or board member of numerous organizations, including Ariel Capital Management Mutual Funds (since 1986), Educational Video Conferencing, Radkowsky Thorium Power Corp., Kinematic, Inc., Newark Boys Chorus, Asphalt Green Aqua Center and the Princeton Club of New York City.
The other nominees for the MBHC Board of Directors are:
Stephen H. Hamrick is Chairman of Carey Financial Corp., a subsidiary of W.P. Carey & Co. He formerly was CEO of Wall Street Investor Services; was a Senior Vice President for PaineWebber, Inc, where he served on the firm's Management Council; and also was National Director of Private Placements for E.F. Hutton & Co. A graduate of Duke University, he is on the board of Orbitex Mutual Funds USA, has served as Chairman of the Securities Industry Association's Direct Investment Committee and as Chairman of the Investment Program Association, and also is a voting member of the Committee on Securities which approves companies to be listed or de-listed on the AMEX.
Christopher D. Illick is a Senior Officer of the New York investment bank Brean Murry & Co. and a General Partner of Illick Brothers, a family real estate and management business. He formerly was a founder and the President of the U.S. subsidiary of Robert Fleming Holdings, Ltd., of London, England. An attorney with a law degree from the University of Virginia, he also formerly was a Director, Chief Administrative Officer and General Counsel of CG America Corp., and has been a member of the boards of numerous corporations, including Aliginis, Intersil, Loehmann's, National Transaction Network, Bio-Technology General, Biomune Systems and The Mercantile & General Reinsurance Company of America.
J. Christopher Klutch is a Board Member, Executive Vice President, and President of Acquisitions of Orbitex Mutual Funds USA. A graduate of the University of Pittsburgh, he was formerly Senior Vice President of BISYS Investment Services; was co-founder, Managing Director and Senior Executive Vice President of Concord Holding Corp.; and was a Vice President of Sherson Lehman.
Robert J. Lewis is Chairman and Chief Executive Officer of Orbital Engineering, Inc., and is Executive Vice President of LFO in Poland.
Richard E. Stierwalt is a Board Member, President and Chief Executive Officer of Orbitex Mutual Funds USA. He formerly was President of BISYS Investment Services; Chairman of the Board and Chief Executive Officer of Concord Holding Corp.; and served as First Vice President and Divisional Administrator for Security Pacific National Bank. He served on the board of the CUSIP agency; is the former National Chairman and a founding member of The Depository Trust Company's Bank Depository User's Group; and has been active with the American Bankers Association as a member of the Securities Processing Committee and of the Securities Operations Executive Committee, and served as Chairman of the Subcommittee on Education.
Mr. Stierwalt was an instructor for the Bank Administration Institute School of Banking at the University of Wisconsin, and was on the adjunct faculty of the University of Indianapolis. He is co-author of the book ''Securities Processing'' and has had articles published in The United States Banker, The ABA Banking Journal and other banking publications, and regularly speaks on banking and financial issues. He received his bachelor's degree in management from the University of Indianapolis, attended the Stonier Graduate School of Banking at Rutgers University and is an OPM graduate of Harvard University. He serves on the Board of Trustees of the University of Indianapolis and of the United Methodist Church in East Norwalk, Connecticut.
Hilliard A. Zola is President of Dierman Wortley and Zola, Inc. He previously served as the Co-Managing Partner of Denman & Partners, he founded the International Consulting Group, Ltd., and he was Vice President of Alexander & Alexander. An attorney, he was named by President Ford to serve as Vice President of Insurance of the Overseas Private Investment Corp., and he served as Legal Adviser for the Economic Development Administration of the U.S. Department of Commerce.
A former Special Assistant to the U.S. Secretary of Transportation for Policy Development and International Affairs, Mr. Zola has lectured on international events and political risk, including appearances before the International Conference on Construction in the Middle East, which was sponsored by the Financial Times of London; the Ministry of Public Works of Bahrain; the U.S. Chamber of Commerce; and the Fletcher School of Law and Diplomacy. He founded and served as the executive director of the Homebuilders Ad Hoc Policy Group; founded the Friends of Hungary Foundation; and served as counsel to the first post-Communist Ambassador of Hungary, Peter Zwack.
Mortgage Bankers Holding Corporation has a diverse set of businesses and
assets, including:
-- NICA, the endorsed provider of estate and financial planning services
and products for the Independent Bankers Association of Texas,
Kentucky and Colorado; the Bankers Association of Nevada and Oklahoma;
the Community Bankers Association of California, Florida and Illinois;
and the Independent Community Bankers of Wisconsin.
-- Mortgage Bankers Service Corp. (MBSC) is a mortgage corporation
licensed in Pennsylvania, Ohio and West Virginia to provide mortgage
loans. MBSC typically brokers loans to investors before settlement.
For more information, contact Patty Hupfeld, MBHC, at 412-278-6272.
SOURCE: Mortgage Bankers Holding Corp.
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