Cenlar FSB announced new leadership Jan. 30, with the appointment of James Daras as CEO and president.
According to the Ewing-based mortgage loan subservicer and federally chartered wholesale bank, Daras brings more than 40 years in the banking and mortgage industry to the position.
Last summer, Daras and Executive Vice president and Chief Operating Officer Robert Lux were appointed co-CEOs at Cenlar following the retirement of Chairman, President and CEO Greg Tornquist. Lux will continue as COO, reporting to Daras, according to the company.
“Jim is an accomplished and exceptional executive leader with a great deal of experience who will ensure Cenlar continues its commitment to providing high quality service to our customers,” board Chairman Dave Applegate said in a prepared statement.
That experience includes extensive knowledge in risk management, banking and corporate finance functions, bank restructuring, company start-ups and venture capital investing, according to Cenlar.
Daras rejoined the firm full time in 2022 as executive vice president to manage the company’s banking functions, but his history with Cenlar dates back to 1985. Daras stayed with the company as chief financial officer until 1990, leaving to join Dime Bancorp in Manhattan. He first returned to Cenlar in 2015 as executive vice president and chief risk officer. In 2019, he transitioned to an advisory capacity before returning full time last year.
Outside of Cenlar, Daras spent time working with several venture capital firms investing in financial services companies, including Loan Servings Solutions, where he served as CEO.
“I am thrilled and honored to have been named CEO at this point in Cenlar’s journey. Cenlar was built on collaboration, expertise, client and homeowner care, and the ability to transform itself during each part of its journey, and I am confident in Cenlar’s long-term success,” Daras said.