WEST PALM BEACH, Fla., July 22, 2004 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today announced two management appointments. Glen R. Stein joins the Company as Vice President Commercial Finance, and John Calia joins as Vice President Unsecured Collections. Mr. Stein will report to William Shepro, Senior Vice President Commercial Finance and International Services. Mr. Calia will report to Ron Faris, President of Ocwen.
"We're very excited to welcome Glen and John. They both have excellent financial services credentials and will be a tremendous asset to Ocwen," said Bill Erbey, Chairman and CEO of Ocwen.
Mr. Stein has more than 15 years of experience in the Commercial Finance industry. Most recently, Mr. Stein was a Vice President with Bayview Financial, where he led the top producing team originating new commercial mortgages nationwide. Previously, he worked for Winthrop, Prudential Securities and UniCapital, and he has been a Principal of his own company. Mr. Stein earned his Juris Doctor degree from the Columbia University School of Law and graduated Magna Cum Laude from Amherst College with a Bachelor of Arts degree.
Mr. Calia brings more than 25 years of executive experience to Ocwen, and he has extensive collections expertise. Most recently, he was President and Chief Executive Officer of Cynocom Corporation, a startup Internet technology firm. Previously, he has held executive positions with such companies as FCA International, Citicorp Diners Club, Goldman Sachs & Co., and Citibank. Mr. Calia graduated from the U.S. Naval Academy in Annapolis, Maryland, with a Bachelor of Science degree.
Ocwen Financial Corporation (NYSE:OCN) is a diversified financial services holding company with headquarters in West Palm Beach, Florida, and a presence in Canada, China, Germany, India, Japan, and Taiwan. Ocwen Financial Corporation is engaged in a variety of businesses related to residential and commercial mortgage servicing, real estate asset management, asset recovery, global outsourcing, and the marketing and sales of technology solutions to third parties. Ocwen Financial Corporation is a global leader in customer service excellence as a result of our company-wide commitment to quality, integrity and accountability. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.