Executive Change: W.J. Bradley Names New Chief Financial Officer

Denver-based W.J. Bradley Company announced today the appointment of Roy Browning as it’s new Chief Financial Officer. Browning’s hire came as the result of an extensive search effort conducted by Dallas based Mortgage Search & Acquisition (MSA).

Browning has an extensive financial services based background, most recently serving as Executive Vice President and CFO at Collateral Real Estate Capital, LLC and previously as Executive Vice President and CFO for Aurora Loan Services, LLC, a mortgage banking subsidiary of Lehman Brothers. Aurora grew to over 2700 employees with originations exceeding $50 billion annually by 2006. Previously, Browning held executive positions for Bridge Information Services and Greenpoint Mortgage. He graduated from Phillips University with a BS in Business/Accounting in 1974 and became a CPA in 1975. Browning will be relocating from his home in Birmingham to Denver, the site of W.J. Bradley’s corporate offices.

“I am looking forward to being a part of W.J. Bradley; they are a cutting edge lender with an executive team that consistently thinks outside the box” commented Browning. “It’s a very fast paced environment in which everyone shares the same vision and is ready to work hard to make it happen.”

W.J. Bradley was formed in 1999 by William J. Bradley and Chairman Joseph Cambi for the purpose of capitalizing on the residential mortgage banking industry by acquiring mid sized residential lending firms originating between $300 million and $2 Billion. The company has completed approximately nine acquisitions since 2005 and currently operates its branch structure under a net branching platform. As is the case with most private equity firms, Bradley’s goal is to position the company for a profitable sale once certain production thresholds are met, a timeline roughly estimated at 3-5 years. The companies controlled by W.J. Bradley Company Merchant Partners closed approximately $3 billion in 2007.

“We are very excited to add Roy as a member of our executive leadership team”, commented William Bradley, company CEO. “His strong financial background, track record of operational success and history of creating value for some of the industry leaders make him an important addition to the company. We are confident that his knowledge, expertise and stature within the financial community will be instrumental in contributing to our success.”