Mr. Cooper Group Names Chief Legal Officer

Rhea-AI Summary

Mr. Cooper Group Inc. (NASDAQ: COOP) has appointed Carlos M. Pelayo as Executive Vice President and Chief Legal Officer, enhancing its executive leadership team. Pelayo, with over 20 years of legal experience in financial services, previously served as Managing Director at Merrill Lynch Wealth Management and held notable roles at Barclays and Davis Polk & Wardwell. CEO Jay Bray expressed confidence in Pelayo's ability to contribute to the company's growth, including its aim to exceed $1 trillion in servicing. Pelayo is enthusiastic about joining at a time when opportunities for client and shareholder value are abundant.

Positive

• Appointment of Carlos M. Pelayo as Executive Vice President and Chief Legal Officer to strengthen leadership.
• Pelayo brings over 20 years of legal expertise in financial services, enhancing the company's compliance and governance.
• Leadership's commitment to achieving over $1 trillion in servicing and delivering superior shareholder returns.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Mr. Cooper Group Inc. (NASDAQ: COOP) announced today the appointment of Carlos M. Pelayo as Executive Vice President and Chief Legal Officer. Pelayo will lead the company’s legal department and corporate governance functions and will serve on the executive leadership team.

Carlos M. Pelayo, Executive Vice President and Chief Legal Officer (Photo: Business Wire)

“We are pleased to welcome Carlos to the Mr. Cooper Group executive leadership team,” said Jay Bray, Chairman and CEO of Mr. Cooper Group. “Carlos’ experience as a legal executive and leader within several large and complex financial services organizations will be a great fit for our team as we continue our journey of being a great place to work for our team members, strive to achieve our goal of becoming a $1 trillion+ servicer and deliver superior shareholder returns.”

Pelayo has more than 20 years of legal experience and an extensive background in financial services and regulatory compliance. He most recently served as Managing Director and Legal Executive for Merrill Lynch Wealth Management, a division of Bank of America. In this role, Pelayo was senior counsel to front-line business leadership with responsibility for providing day-to-day legal, regulatory and strategic advice to key client-facing areas of the business. Previously, Pelayo served as Managing Director and General Counsel for Barclays’ investment-driven private banking business in the Americas, and prior to that was in private practice with the international law firm Davis Polk & Wardwell. Pelayo holds a Juris Doctor degree from the University of Pennsylvania, a master’s degree in Law and Diplomacy from The Fletcher School at Tufts University, and a bachelor’s degree with honors from Boston College.

“Mr. Cooper has clearly solidified its position as an industry leader, and I am excited to join the team at a time when the market presents a tremendous amount of opportunity to add even more value to our clients and shareholders. I look forward to leading a best-in-class legal function and helping the company achieve its growth goals in the years ahead,” said Pelayo.

About Mr. Cooper Group

Mr. Cooper Group Inc. (NASDAQ: COOP) provides customer-centric servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005987/en/

Media Inquiries:

Christen Reyenga, VP Corporate Communications

MediaRelations@mrcooper.com

Shareholder Inquiries:

Kenneth Posner, SVP Strategic Planning and Investor Relations

Shareholders@mrcooper.com

Source: Mr. Cooper Group Inc.

FAQ

Who is the new Chief Legal Officer at Mr. Cooper Group?

Carlos M. Pelayo has been appointed as the new Chief Legal Officer at Mr. Cooper Group.

What is Carlos M. Pelayo's professional background?

Carlos M. Pelayo has over 20 years of legal experience, including roles at Merrill Lynch and Barclays.

What are Mr. Cooper Group's goals following Pelayo's appointment?

Mr. Cooper Group aims to exceed $1 trillion in servicing and enhance shareholder returns.

When was Carlos M. Pelayo appointed as Chief Legal Officer?

Carlos M. Pelayo was appointed as Chief Legal Officer on February 22, 2023.