NEW YORK, Aug. 13, 2020 /PRNewswire/ -- Anchor Loans announced today that Chief Executive Officer and Founder, Dr. Stephen Pollack, will retire as CEO in the 4th quarter of this year but will continue to serve as a full-time member of the Board of Directors.
Anchor's Board of Directors has elected Andrew Pollock, current Chief Operations Officer (and no relation to Dr. Pollack), to succeed Dr. Pollack as CEO.
"On behalf of our Board of Directors, we are pleased to elect Andrew as our next CEO. Andrew is a proven and effective leader, and based on his already lengthy list of contributions to Anchor as well as his past experience as CEO for First Franklin Financial Corporation and senior executive to other large organizations, we fully expect Mr. Pollock to excel in this role," said Michael Gontar, current Board Member.
Dr. Pollack will work closely with Mr. Pollock and the Board of Directors to ensure that there is a smooth transition and that Mr. Pollock is positioned for success in leading Anchor as it looks to scale and grow profitable market share.
Mr. Pollock joined Anchor in March of this year, and his hiring was intended to strengthen Anchor's senior executive team. Mr. Pollock has over 30 years of experience at the executive level in the mortgage industry, six of which were as CEO of one of the largest non-prime lenders in the country. Mr. Pollock has already made a significant and positive impact on the Anchor platform, helping to effectively navigate through the challenges presented by the impact of the financial markets and governmental response to Covid-19.
Dr. Pollack has spent the last three years building a team of C-level executives in preparation for his retirement. He hired and groomed a strong team of seasoned executives to pass the baton of leading Anchor to the next level.
Although he is retiring as CEO, Dr. Pollack will remain directly connected to Anchor as a significant owner and a Board Member. https://www.anchorloans.com