Waterstone Mortgage announces CEO change

A.W. Pickel III will assume the CEO duties from Eric Egenhoefer

By Francis Monfort

31 Jul 2018

Waterstone Mortgage has disclosed that Eric Egenhoefer has resigned from his position as CEO of the company.

Egenhoefer's leadership responsibilities will be transitioned to A.W. Pickel III, currently president of Waterstone Mortgage.

Egenhoefer's resignation will be effective Sept. 15. He will continue to serve as a non-employee member of the company’s board following his resignation through December.

"We appreciate the contributions Eric has made over the past 12 years,” Waterstone Financial President and CEO Douglas Gordon said. “Under his leadership and direction, Waterstone Mortgage Corporation has grown from less than $100 million in annual loan originations in fiscal 2006 to over $2.5 billion in 2017. We also appreciate Eric's commitment to ensuring a seamless transition of his responsibilities."

Pickel previously served as president of AmCap Mortgage's Midwest division. He is the founder of local mortgage brokerage LeaderOne Financial, which he grew into a full-service mortgage bank. He has extensive experience in recruiting, training, and managing origination teams.

"After bringing A.W. on board and giving significant consideration to Waterstone's current and future leadership needs, I have come to the conclusion that it is time for me to step down, pass the torch to a new leader, and move on to the next chapter in my career," Egenhoefer said. "I could not have made this decision without having someone like A.W. in place. I am truly grateful to have worked alongside an incredible group of individuals. Their passion and dedication are the reason Waterstone is what it is today and the reason the company will continue to be successful in the future."