The Bank Slate


Wells Fargo exec tapped to become Mr. Cooper president

A former Wells Fargo and JPMorgan Chase executive is set to become the next president of Mr. Cooper Group.

The mortgage company said in a press release that Mike Weinbach will succeed Chris Marshall on Feb. 1 and will be responsible for operations, including originations, servicing and technology.

Weinbach previously served as CEO of consumer lending at Wells Fargo. Before that, he was CEO of Chase Home Lending at JPMorgan Chase.

Marshall, who also serves as vice chairman, plans to retire at the end of this year.

Weinbach’s “extensive background in consumer lending and financial services, as well as his people-first approach, will be a great fit for our team as he helps lead the company forward on the next phase of our journey,” Jay Bray, Mr. Cooper Group’s chairman and CEO, said in the release.

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