Altisource Names John Vella as Chief Revenue Officer
January 19, 2015
LUXEMBOURG, January 20, 2015 -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (Nasdaq:ASPS), a leading provider of mortgage, financial and technology services for the real estate industry, today announced that John Vella has been appointed to the newly-created Chief Revenue Officer position across Altisource’s brand portfolio, reporting to Chief Executive Officer, William B. Shepro.
William Shepro said, “John has decades of real estate and mortgage industry experience and a remarkable track record in sales leadership. Our management team has been impressed with his ability to articulate and execute against a strategic vision. We are confident that in appointing John as Chief Revenue Officer we are creating a means to institutionalize his experience and success that will drive our revenue growth strategy in this opportunistic time in the mortgage and real estate market.”
As Chief Revenue Officer, Vella will focus on the company’s growth initiatives and diversifying the reach of Altisource’s product suite to the real estate and mortgage industries. Top priorities for Vella will include managing and expanding key client relationships, growing Altisource’s mortgage origination servicing business through its Lenders One and Wholesale One cooperatives and Mortgage Builder software solutions; introducing innovative mortgage technology products and continuing to expand Altisource’s default services business. Vella will continue in his executive role at Equator Business Solutions, the leading provider of default software solutions for services, real estate and mortgage industry professionals and vendors.
Vella said, “Altisource has a world class set of products and services to help the mortgage and real estate industry meet its complex end to end needs. Along with our expertise working with the largest financial institutions in the country, Altisource can uniquely deliver the right mix of products and services that can help our customers improve their operations and focus on efficient, compliant growth.”
Vella is a 30-year real estate industry veteran who has served in a number of C-level roles at companies throughout the real estate and mortgage industry during his career. Prior to joining Altisource, Vella was the executive vice president responsible for special servicing for GMAC/Rescap. Previously, he held roles as president and chief executive officer of EMC Mortgage Corporation (a subsidiary of JPMorgan Chase); CEO of Household Automotive; Chief Sales Officer of Option One Mortgage and director at Freddie Mac and the FDIC.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Those forward-looking statements include all statements that are not historical fact, including statements about management’s beliefs and expectations. Forward-looking statements are based on management’s beliefs as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future economic performance and are not statements of historical fact, actual results may differ materially from those projected. The Company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to: Altisource’s ability to retain existing customers and attract new customers; general economic and market conditions; governmental regulations, taxes and policies; availability of adequate and timely sources of liquidity; and other risks and uncertainties detailed in the “Forward-Looking Statements,” “Risk Factors” and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
Altisource Portfolio Solutions S.A. is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries offering both distribution and content. Altisource leverages proprietary business process, vendor and electronic payment management software and behavioral science based analytics to improve outcomes for marketplace participants. Altisource has been named to Fortune’s fastest growing global companies two years in a row. Additional information is available at www.Altisource.com.