Cherry Hill Mortgage Investment Corp. announced Thursday it has promoted Michael Hutchby to chief financial officer, effective immediately.
Hutchby, who previously served as controller at the Farmingdale-based real estate finance company, is succeeding Martin Levine, who will remain in his role as president of Aurora Financial Group Inc., the company’s wholly-owned mortgage subsidiary.
“Marty has been a valuable contributor to Cherry Hill, playing a vital role in growing our business since our initial public offering six years ago. The board and I extend our sincerest gratitude to Marty for all of his efforts as CFO, and know as president of Aurora that he will continue to be an important member of the team,” Jay Lown, CEO and president, said.
“Concurrently, we are pleased to promote Mike to CFO. He has also been an instrumental part of our team since the IPO, and his deep experience, extensive knowledge of our business and the industry made him the natural candidate to succeed Marty as we continue to grow Cherry Hill,” he said.
Prior to Cherry Hill, Hutchby served as vice president of capital markets for Freedom Mortgage Corp. He also has held investment banking and financial consulting roles at Stern, Agee & Leach; Madison Place Partners; and Bank of America Merrill Lynch. Before that, he was a senior consultant, product manager and quality assurance specialist at Sungard Energy Systems.
“I am eager to assume the CFO role, and extend my deepest appreciation to Marty for his ongoing support during the transition process,” Hutchby said. “I am excited to work more closely with the leadership team, as well as continuing to support our efforts to create profitable growth and stockholder value, while maintaining and further enhancing the company’s solid balance sheet.”