Bh ALLEN P. ROBERTS Jr.
Fremont General Corp. has received federal and state approval for its new executive management team at its Brea-based bank, Fremont Investment & Loan..
Stephen Gordon will serve as chairman and chief executive, while David DePillo will serve as vice chairman and president.
Both executives used to run Irvine’s Commercial Capital Bancorp and sold it to Washington Mutual Inc. for nearly $1 billion in 2006.
Santa Monica-based Fremont General said in November that it was reshuffling its management as it tries to stay afloat during the ongoing real estate slide and credit crunch.
Fremont, once a leading subprime mortgage lender, has scrambled to remain solvent. The company shuttered its subprime lending unit earlier this year.
Roberts is a staff writer with the Los Angeles Business Journal.
