Finance of America CEO to retire, search for successor begins

“I’m committed to ensuring a smooth transition during this process,” Cook said. “I will continue to lead FOA until my successor is found who will drive the execution of the long-term growth strategy we’ve laid out for the company.”

Cook, who has been with Finance of America since 2016, has been instrumental in the company’s most significant achievements, including several acquisitions and FOA’s public debut last April. The mortgage lender also grew to more than 5,000 employees across 300 global offices under Cook’s leadership.

Cook joined Finance of America six years ago as a senior managing director. In 2017, she was promoted to president, and in 2020, she took on the role of CEO.

“On behalf of the board, I want to thank Patti for her countless contributions to Finance of America over the past six years,” Libman said. “As president and chief executive officer, she has been a visionary and unifying force across the entire enterprise playing important roles in our evolution into a public company. More recently, Patti laid the groundwork for the implementation of our long-term strategic roadmap that focuses on optimizing the business, driving growth, and increasing enterprise value to the benefit of all stakeholders. Patti’s efforts have served to strengthen our competitive position in the market and set us up to achieve enduring success.”