LoanDepot Taps Former Pimco Manager as CIOTuesday, January 7, 2014
Foothill Ranch-based mortgage lender LoanDepot.com LLC has named Bryan Sullivan its chief investment officer.
Sullivan joined LoanDepot from Newport Beach-based Pacific Investment Management Co., where he worked as a portfolio manager for about two years.
He managed Pimco’s Bravo fund, short for Bank Recapitalization and Value Opportunities, which aims to buy distressed assets from banks in the U.S. and Europe.
Pimco is the largest bond-fund manager in the world, with about $2 trillion in assets.
Sullivan’s previous stints include working at Goldman Sachs Group Inc., FBR Capital Markets and KPMG LLP.
LoanDepot is among the largest private, independent retail mortgage lenders nationwide. It has more than 2,200 employees, including 700 loan officers. It was launched in 2010 by industry veteran and serial entrepreneur Anthony Hsieh, who currently serves as chief executive.
Hsieh has a track record of running mortgage-related businesses, including starting LoansDirect.com in 1989, which merged into ETrade Group Inc. in 2001 and became ETrade Mortgage.
Hsieh also founded Home Loan Center Inc. in Irvine in 2002, which he sold to LendingTree LLC in 2004. He served as president of LendingTree until 2007.