The four are members of the new office, which "will serve as the senior decision-making body, formulate corporate strategy and interact with GMAC Financial Services," according to a statement. GMACCH is the commercial real estate finance arm of GMAC.
Feller and Barker will be run day-to-day operations, according to the company. Creamer and Dunleavy are in charge of setting long-term strategy, the statementcontinues.
Creamer says the executive changes have been in the planning stages "for some time now," and adds, "additional organizational changes resulting from these moves will be announced in the weeks to come."
Feller joined GMACCH in 1999 as executive vice president of GMACCH and chief operating officer of GMAC Commercial Mortgage Corp. Most recently, he was chief executive officer and president of the mortgage corporation arm's North American operations and a member of the holding company's executive committee. Before joining GMAC, he heldmanagement positions at General Motors.
Barker joined GMACCH as executive vice president following the company's 1998 acquisition of Newman Financial Services, Inc., which Barker co-founded and became GMAC Commercial Holding Capital Corp. It is now a GMACCH subsidiary that underwrites multifamily affordable housing bonds. Barker has served as its president since 1984. Barker will remain on GMACCH's executive committee and work primarily from the company's Denver, CO office.
Creation of the new office follows a series of management shifts in various divisions of GMAC. Thomas P. MacManus was named executive vice president of the commercial mortgage arm's proprietary lending group, and James A. Dalton was promoted to president of GMAC commercial mortgage operations in Europe.
The GMACCH servicing portfolio is approximately $160 billion.
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