Guild Mortgage CEO Mary Ann McGarry announced retirement plans after nearly 40 years in the industry. Her last day as CEO is scheduled for June 30. She will continue serving on Guild’s board of directors.
“On behalf of the board of directors and the entire company, we are forever grateful for Mary Ann’s extraordinary contributions to Guild,” Patrick Duffy, chair of the Guild board of directors, said. “. We look forward to continuing our partnership with Mary Ann, as she will remain a significant stockholder and a member of the board. While Mary Ann’s integrity, talent, dedication, and energy will be missed inside the business, those qualities are ever present in her exceptional team, which will continue to lead the company.”
Guild Mortgage President Terry Schmidt is set to succeed McGarry effective July 1, the company said. McGarry hired Schmidt at Guild in 1985, and the two have worked together for nearly four decades.
Schmidt praised McGarry for advancing the customer service culture and promoting growth within the company.
“Mary Ann is a people person, and our ‘ah-ha’ moment was to go beyond focusing on the transaction as an asset only,” Schmidt said. “We wanted to build relationships and trust. We want to drive business back to the original loan officer for a better customer experience. Mary Ann was always a champion in this evolution and encouraged input from every corner of the company. Everyone felt they had a voice. This approach took Guild to new levels.”
Mortgage Bankers Association (MBA) President and CEO Robert Broeksmit expressed gratitude towards McGarry’s dedication to the industry and her ongoing service as a member of the MBA board of directors.
“It is wonderful in this day and age when someone can be with a company for some 40 years and lead it to profitable and responsible growth,” Broeksmit said. “Mary Ann has led Guild so ably. Some get creative and forget about the fundamentals. Her leadership has been innovative and responsible. She set the tone for Guild being proactive in participating in all sorts of programs for the underserved. She has given sensible direction to me and other members of the MBA board and we are thankful for her ongoing contributions to our industry.”