Detroit-based mortgage lender Quicken Loans Inc. today announced the promotion of three veteran members within the company’s executive levels, effective immediately.
Longtime CEO Bill Emerson will immediately transition to the role of vice chairman of Rock Holdings, parent company to Quicken Loans. Emerson will continue to provide guidance to Quicken Loans, while also taking an expanded role advocating for the mortgage industry and leading the growth of the culture across the entire Rock Holdings portfolio.
Jay Farner, a 21-year veteran of Quick Loans, has been named CEO after previously serving as president and chief marketing officer of the company. Farner will oversee all aspects of the business, while continuing to expand Quicken Loans’ leadership position in the FinTech space.
Bob Walters, Quicken Loans’ chief economist, has also been selected to serve in the dual role of president and chief operating officer, following 20 years at the company. Walters will oversee the business’ daily operations, focusing on strategic planning and leveraging synergies among the various teams at Quicken Loans.
“For nearly all of Quicken Loans’ 31-year history, Bill, Jay, and Bob have been at the forefront, driving our strategy and culture,” says Dan Gilbert, founder and chairman Quicken Loans. “Their passion and absolute dedication to growing our team members has been instrumental in our company becoming the leader in technology, innovation, and client service.”
Quicken Loans is the nation’s second largest mortgage lender, employing 16,000 team members across the country, with more than 10,000 employees located in downtown Detroit.