Resource Bancshares Mortgage Group Inc., Columbia, S.C., has named Steven F. Herbert as executive vice president and chief financial officer, effective July 1.

Currently, Mr. Herbert heads Price Waterhouse's Columbia office. He replaces Christopher C. Bowen, who resigned in May to pursue other interests.

Resource has ambitiously been recruiting employees. In May, it was hit with a restraining order preventing it from aggressively recruiting employees of Fleet Mortgage Group, which also is based in Columbia.

Lee Shelton, vice chairman and managing director at Resource, cited Mr. Herbert's knowledge of finance and accounting and his familiarity with the company.

"We know him personally and he knows us," Mr. Shelton said. Mr. Herbert already lives in Columbia, which both he and Mr. Shelton consider a plus.

Although Mr. Herbert has never worked for a mortgage company, Mr. Shelton is confident he has enough experience and knowledge of the industry.

"His knowledge of accounting and business issues are as good as anyone in the industry," Mr. Shelton said.

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