TORONTO, Sept. 4 /CNW/ - ResMor Trust Company (ResMor Trust), a leading
residential mortgage company, today announced the appointment of Tracie Tesser
as the company's President and Chief Executive Officer and Steve Bashmakov as
the company's Vice President and Chief Financial Officer. ResMor Trust is
owned by GMAC Residential Funding of Canada, Limited (GMAC Residential
"Both Tracie and Steve are highly capable and experienced executives who
have demonstrated exceptional leadership during challenging times," said Barry
Dunleavy, GMAC ResCap's Senior Managing Director of the Americas.
In her previous role as General Manager and Senior Vice President of
Operations for GMAC Residential Funding and ResMor Trust Company, Ms. Tesser
was responsible for six areas of the ResMor business, including IT,
infrastructure and service management. Prior to joining GMAC Residential
Funding, Ms. Tesser held senior roles at a number of leading organizations,
including the TSX (Toronto Stock Exchange), Sprint Canada and Siemens New
Mr. Bashmakov has held several senior-level roles at GMAC Res Cap during
his four-year tenure, most recently in ResCap Investor Relations.
Mr. Bashmakov has a strong background in finance, accounting and operations,
having worked for leading financial institutions such as JP Morgan Chase and
Compass Bank, NA. Steve holds a Bachelor of Finance and Master of Science in
Accounting from the University of Texas at Dallas.
The appointments were made by ResMor Trust Board of Directors on
August 21, 2008.
ResMor Trust was acquired by GMAC Residential Funding of Canada in
November 2007, and is an indirect subsidiary of GMAC ResCap.
About GMAC Residential Funding of Canada, Limited
GMAC Residential Funding of Canada, Limited is a finance company with two
primary retail brands: ResMor Trust Company and Mortgage Intelligence.
About ResMor Trust Company
ResMor Trust Company (www.resmor.com) is a federally regulated trust
company operating across Canada focused on residential mortgage lending,
mortgage servicing and deposit products. It currently has more than $5 billion
of mortgages under administration representing over 31,000 homeowners. ResMor
originates all of its products through the brokerage community. ResMor is a
member institution of Canada Deposit Insurance Corporation (CDIC).
About GMAC ResCap
Residential Capital, LLC, an indirect wholly owned subsidiary of GMAC
Financial Services, is a leading real estate finance company. ResCap's
diversified businesses - GMAC-RFC, GMAC Mortgage, GMAC Bank, Ditech, and
Homecomings Financial - cover the spectrum of the U.S. residential finance
industry, from origination and servicing of mortgage loans through their sale
or securitization in the secondary market. ResCap operates in selected
international markets and also provides capital to other originators of
mortgage loans and residential real estate developers.
About GMAC Financial Services
GMAC Financial Services is a global, diversified financial services
company that operates in approximately 40 countries in automotive finance,
real estate finance, insurance and commercial finance businesses. GMAC was
established in 1919 and employs approximately 26,700 people worldwide. For
more information, go to http://www.gmacfs.com/.
For further information:
For further information: For more information: Jason Graham, Argyle
Communications, (416) 968-7311 Ext. 229, firstname.lastname@example.org;
Dawn Erceg, Director of Marketing and Communications, ResMor Trust Company,
(416) 234-3170, email@example.com