Tony Ward has been appointed president and chief executive of Clayton Euro Risk.
Meanwhile, former co-chief executive Michael Bolton has left the business.
Ward (pictured) joins Clayton Euro Risk from Home Funding, which he led from 2006–2015. During his 40-year career, he was a founder of Mortgage Funding Corporation PLC, chairman of the Intermediary Mortgage Lenders Association (IMLA) and deputy chairman of the Council of Mortgage Lenders.
During the recent economic recession, he was made chairman of the industry-wide Mortgage Funding Group, which sought solutions for restoring liquidity to the UK mortgage market. He has also provided technical consultancy services to UK financial regulators and HMRC.
Clayton Holdings and its subsidiaries, including Clayton Euro Risk, were acquired by Radian Group Inc, a provider of private mortgage insurance, risk management products and real estate services to financial institutions, in July 2014.
Joe D’Urso, president of Clayton Holdings LLC, said: “We are very excited to have Tony to lead our European business. His breadth of experience, in-depth knowledge of the mortgage and financial risk world and strong personal profile make him the ideal figure to drive the business forward and really seize opportunities.
“Clayton has entered a new phase having been acquired by Radian Group last year. Our goal is to expand and develop the business, its range of products and services globally. Clayton Euro Risk and the Europe market will play a vital role in achieving that ambition, hence Tony’s appointment. It is our intention to build on what is already a market-leading platform.”
Ward said: “Clayton enjoys a strong reputation in the European markets as a leader in the mortgage and other loan due diligence and risk services markets. I am thrilled to join the business and am looking to building on its capabilities. Right now, I see plenty of scope for developing new risk solutions to banks and other lenders, investors and Government authorities across Europe.
“Clayton Euro Risk has a committed and highly-skilled team based in Bristol, many of whom I already know well. I’m particularly pleased to be working again with Teresa Gallagher as chief operating officer. Teresa and I worked together at Home Funding. She is well-respected by the industry and provides a strong note of continuity to the senior team.”
On Bolton’s departure, D’Urso added: “We’re sorry to see Michael depart and wish him all the best for the future. Clayton Euro Risk has proven to be a very successful business and Michael leaves it in good shape as we move forward.”
