CHICAGO—Fay Servicing, a Chicago-based special servicer that handles distressed and at-risk mortgages throughout the US, has just hired Andy Laing as its new chief operating officer. Laing will lead all of the firm's servicing, default, business intelligence and back office operations, as well as help manage new strategic initiatives.

Last March, GlobeSt.com reported that Fay had just opened a second office in west suburban Oakbrook Terrace. That expansion came on the heels of the company's announcement that it had boosted its revenue by 250% in 2012. The firm was founded in 2008.

Laing has had more than 20 years of experience in the financial services industry. Most recently, he served as senior manager in the financial services strategy and operations department at Deloitte Consulting, LLP, where he spent the last three years helping large banks and credit card companies adapt their business models to the changing business and regulatory environments. Laing also had numerous executive positions at HSBC, including executive vice president and head of global credit card operations as well as senior vice president and head of customer service and loan administration for HSBC's North American businesses. Prior to the ten years at HSBC, Laing worked as a consultant at Accenture and as an analyst with the Federal Reserve.