Industry veteran A.W. Pickel III is heading to AmCap Mortgage to become president of the lender's newly formed Midwestern division.
In the process, Pickel will leave his role as chief executive at LeaderOne Financial, the company he founded in 1992. He will join AmCap effective Oct. 15, he told National Mortgage News Wednesday.
Pickel handpicked his successor, Michael Stoddart, who previously served as executive vice president and chief operating officer since June 2013,
Explaining his choice to leave LeaderOne, Pickel said that it was "fun to do something new," reiterating the growth AmCap has seen recently. Founded in 2002, AmCap now operates in 32 states and originates more than $2 billion in retail government and conventional mortgages each year.
"It's time to turn [LeaderOne] over to other folks who like to manage and be an administrator," Pickel said by phone. "[AmCap is] really growing and it's a great opportunity for me. This 60-year-old is not done yet."
In his new role with AmCap, Pickel will be responsible for growing the company's retail brand and physical presence, primarily in the Midwest, through acquisitions and organic growth.
Pickel serves as a current member of the Mortgage Bankers Association's Independent Mortgage Bankers Executive Council and the Freddie Mac IMB Advisory Board. He is also a former president of the National Association of Mortgage Brokers and founded the Kansas Association of Mortgage Brokers.
