Andy Peach named president and CEO of Waterstone Mortgage

Company's previous CEO was terminated in March

Last updated on August 30th, 2019 at 11:49 am

Andy Peach has been named the new president and chief executive officer of Pewaukee-based Waterstone Mortgage.

The previous president and CEO of Waterstone Mortgage, A.W. Pickel III, was terminated in March, after less than a year with the company. Pickel joined Waterstone Mortgage as president in June of 2018, and then succeeded Waterstone Mortgage founder Eric Egenhoefer as CEO in September of 2018.

Waterstone Mortgage is a wholly-owned subsidiary of WaterStone Bank, which is a wholly-owned subsidiary of Wauwatosa-based Waterstone Financial Inc.

Peach was previously managing director and chief production officer for Pacific Union Financial LLC, which earlier this year was acquired by Mr. Cooper. At Pacific Union, Peach was responsible for managing the company’s retail, consumer direct, correspondent and wholesale distribution channels.

Before he worked for Pacific Union, Peach worked for several other major financial services firms including Bank of America, JPMorgan Chase and Aurora Loan Services, a subsidiary of Lehman Brothers.

“We are pleased to announce the addition of Andy Peach to the Waterstone Mortgage executive team,” said WaterStone Bank president and CEO Doug Gordon. “Andy is an accomplished leader with extensive experience in the mortgage lending industry. His work ethic and vision also align perfectly with Waterstone Mortgage’s overall mission and goals, making him an ideal fit for the organization.”

“I am excited to work alongside the people of Waterstone Mortgage as we leverage our strengths to take the company to the next level and beyond,” Peach said.

In 2018, Waterstone Mortgage surpassed $2.6 billion in annual loan origination volume.

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Andrew Weiland is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, Weiland is a lifelong resident of the state. He lives in Muskego with his wife, Seng, and son, Zachary. He is an avid sports fan and enjoys coaching his son’s youth baseball and basketball teams.