Ward, who was appointed by the Board of Clayton Holdings LLC and begins his new role in April, joins from Home Funding, which he led from 2006 to 2015.
Ex-co-CEO Michael Bolton’s exit in November last year, reported at the time by Mortgage Solutions, was finally confirmed by Clayton today.
US financial risk insurer Radian Group bought Clayton a provider of private mortgage insurance, risk management products and real estate services in July 2014.
Joe D’ Urso, president of Clayton Holdings LLC, said: “Clayton has entered a new phase having been acquired by Radian Group last year. Our goal is to expand and develop the business, its range of products and services globally.
Tony Ward said: “Clayton enjoys a strong reputation in the European markets as a leader in the mortgage and other loan due diligence and risk services markets. I am thrilled to join the business and am looking to building on its capabilities. Right now, I see plenty of scope for developing new risk solutions to banks and other lenders, investors and Government authorities across Europe.
With offices based in Bristol, Ward confirmed plans to open a City-based office in the coming weeks to service the UK, which has the largest securitisation market in Europe.
Ward added: “We’re seeing more and more UK-based securitisations. The UK is seen as a good place to be and houses will always be seen as a safe asset to be in so the expectation is that we will grow,” he said.
He added that the opaque reputation surrounding the securitisation market has applied more to the US than Europe or the UK with far higher downgrades and defaults on US portfolio performance.
“Clayton Euro Risk has a committed and highly-skilled team based in Bristol, many of whom I already know well. I’m particularly pleased to be working again with Teresa Gallagher as Chief Operating Officer. Teresa and I worked together at Home Funding. She is well-respected by the industry and provides a strong note of continuity to the senior team,” he said.
