Tom Marano
40+ yrs experienceTom brings more than four decades of leadership across commercial real estate finance, structured credit, and mortgage capital markets. A recognized pioneer in the development of the MBS and CMBS markets, Tom served as Global Head of Mortgage and Asset-Backed Securities at Bear Stearns, where he oversaw the $50 billion mortgage and structured-credit trading book, as well as underwriting, securitization, and risk management. He later established Cerberus Capital Management’s Mortgage Capital Markets Group and subsequently served as Chairman of the Board of GMAC. He has also held Chief Executive roles at ResCap, Ditech, and Intrawest, giving him deep operating and portfolio-management experience across lending, servicing, and real-estate platforms. He currently serves on the board of Apollo’s Asset-Backed Credit Company, part of Apollo’s global credit and ABF platform, which manages $250 billion in credit and asset-backed finance assets globally.
Joined Bear Stearns (Money Markets, Corporate Syndicate, Fixed Income Ops).
Hired full-time into Corporate Syndicate; built allocation systems; placed the largest CD volume in Bear history.
Joined Mortgage-Backed Securities Trading. Priced the first Fannie Mae REMIC (1987).
Structured & priced private-label ABS (autos, boats, CMBS); in ’93 structured the first multi-tranche senior CMBS deal. All U.S. mortgage & ABS trading reported to Marano.
Executed the unwind of CLO positions at Bear Stearns Asset Management. Named Global Head of Mortgage/Asset-Backed Finance, supervising a $50B+ mortgage/ABS book across the US, UK & Japan.
Joined Cerberus Capital Management, where he built the mortgage trading business; named Non-Executive Chairman of GMAC Financial Services. In August ’08 named Chairman and CEO of ResCap; supervised $50B+ mortgage exposure.
Led ResCap prepackaged bankruptcy, eliminating $4B of R&W exposure; negotiated FHFA approval to operate in BK; generated $40MM profit during bankruptcy, enabling the Ally Financial IPO in 2014.
Named CEO of Intrawest, the #2 largest ski resort owner/operator. Increased share price from $8.30 to $16.97; negotiated sale to KSL/Aspen at $23.75/share (~$1.5B). Spring ’17: consulting for The Chotin Group; generated $50MM in profits on a residual restructuring transaction.
Joined the board of Ditech Holdings; became CEO and President. In 2019–20, filed for bankruptcy in order to sell the assets to New Residential.
Joined the Board of Apollo’s Asset-Backed Credit Company. Key advisor to the Chotin Group Corporation; took over control of established platform ProCap Asset Management, which makes whole/bridge & construction loans to sponsors and developers. Also serves on the board of E-Lend.