The chief executive officer of Envoy Mortgage LTD is relinquishing his role, and an insider has been named to take his place.
The Houston-based company was originally founded as First Houston Mortgage in 1997. In 2008,
it became Envoy Mortgage and brought on Patrick Walden as president and CEO.
Walden came from the now-defunct subprime lender Aegis Mortgage, where he spent 14 years. Under his leadership, originations at Envoy went from
$0.7 billion to $4.0 billion.
But Walden has decided to retire as CEO of Envoy, according to a news release Thursday.
Taking over as chief executive is Ron Millard, who originally joined Envoy in 2016 as executive vice president, strategic initiatives.
Millard, who
holds an MBA from Stanford University, previously was a principal at Credit Suisse and a financial analyst at Credit Suisse First Boston, according to his LinkedIn profile.
“I have gotten to know Ron well over the last couple of years, as he has become a key member of Envoy’s executive team, and he brings a wealth of executive experience,” Walden said in the statement. “Ron’s leadership, experience and passion will serve Envoy well as the company enters its next phase of growth.”
Walden will maintain his position as chairman of the board.
