PHH Corporation Names Glen Messina As Chief Operating Officer

PHH Corporation announced on June 30 that Glen A. Messina has been named Chief Operating Officer, effective July 13, 2011.

In this new role, Messina will have responsibility for PHH's two business units — Mortgage and Fleet Management — and will report to Jerry Selitto, President and Chief Executive Officer. Luke Hayden, President of PHH Mortgage; George Kilroy, President of PHH Arval; Jeff Bell, Senior Vice President and Chief Information Officer; and Milton Prime, Senior Vice President, will report to Messina.

"Given the level of activity at both federal and state levels, it is apparent that broad regulatory change will continue to occur in the foreseeable future, as well as significant change in the secondary mortgage market," Selitto said, prefacing comments about the appointment. "To best enable PHH to stay ahead of these changes and continue our market share growth, we have created the new position of COO."

"Glen brings an outstanding track record of successful management and financial leadership to PHH, and he has a proven ability to grow businesses in a number of industries, including mortgage and equipment leasing. With Glen on board, I will be able to devote more of my time to the future strategic direction and market share growth opportunities of both of our businesses, as well as partnerships and broader business relationships, the ever-changing regulatory environment, the continued diversification of our funding, and the delivery of attractive, sustainable returns to our shareholders."

Messina joins PHH with more than twenty-five years of management experience, including the past seventeen years at General Electric Company (GE). Most recently, he served as Chief Executive Officer of GE Chemical and Monitoring Solutions, a global water and process specialty chemicals services business, with 3,000 employees in more than one hundred countries. His previous leadership roles at GE included Chief Financial Officer of the company's $6.9 billion equipment services business, and CEO and earlier CFO of GE's mortgage services business.

NAFA Fleet Management Association
125 Village Blvd., Suite 200
Princeton, NJ 08540

Telephone: 609.720.0882 Fax: 609.452.8004