PHH Corp., a mortgage and fleet company spun off this week from Cendant Corp., has promoted Joe Suter to president and chief executive officer of mortgage operations.
Mr. Suter's promotion was announced Tuesday, a day after the spinoff of PHH, of Mt. Laurel, N.J., was completed.
He succeeded Terry Edwards as the head of PHH Mortgage, which was called Cendant Mortgage Corp. before the spinoff. Mr. Edwards became the president and chief executive of PHH Corp.
Before the spinoff Mr. Suter had been the senior vice president of risk management and capital markets for Cendant Mortgage for nine years.
