American Advisors Group (AAG), the leading reverse mortgage lender in the United States, has appointed mortgage industry veteran Ed Robinson to the position of acting president and chief operating officer (COO). The announcement was made to AAG’s workforce early on Wednesday by AAG Founder and CEO Reza Jahangiri.
Robinson’s appointment is said to allow for Jahangiri to focus on other specific aspects of running the company and working toward unspecified initiatives for its future, and Robinson will assume his new roles and duties on August 23.
In an internal announcement to AAG employees obtained by RMD, Jahangiri praised Robinson’s experience at other major mortgage companies.
“After an extensive search, I’m excited to announce that Ed Robinson, a mortgage industry and U.S. Army veteran, will be joining AAG on Monday, August 23, as Acting President and Chief Operating Officer (COO) responsible for managing the day-to-day operations and P&L,” Jahangiri said in the internal announcement to staff. “Ed brings a fresh perspective and 30-plus years-experience he gained while running the mortgage business for Fifth Third Bank and USAA, and through leadership positions with PHH Corporation, Genworth Financial, and General Electric.”
Most recently, Robinson served in the COO role for Genesis Financial Solutions, a provider of non-prime consumer financing that is based in Beaverton, Ore. Prior to his career in the mortgage business, Robinson served in the United States military.
“Ed […] proudly served our country for 17 years in the U.S. Army, as a Team Leader, Operator: Special Operations, where he was part of a small, elite Long-Range Reconnaissance (Airborne) team,” Jahangiri described. “All of this experience has honed his instincts to make decisions rapidly with limited data that have enormous consequences.”
Jahangiri expressed confidence that Robinson will be a substantive addition to the AAG leadership team and well blend in well with the existing company culture, he said.
“Through my many conversations with Ed, he impressed me as a purpose-driven leader who understands mortgage,” Jahangiri said. “I believe he will be a true asset to AAG and a great fit with AAG’s culture and Executive Leadership Team.”
In terms of Jahangiri himself, he described that this new addition to the leadership infrastructure at the company will give him the freedom to plan for additional goals that AAG has for its future.
“I’m extremely excited about this addition to the leadership team. While I will continue to be involved in the core business as CEO, I can now spend more time focused on the future of AAG, knowing that the company is in great hands with Ed and our outstanding team,” he told employees.
RMD reached out to AAG for additional comment, but a representative declined to offer any additional information at this time. RMD will update our readership with any new information when it becomes available.
