SAN DIEGO, Calif. /California Newswire/ — MCT Trading, Inc. (MCT), a recognized leader in mortgage pipeline hedging and risk management services, has announced the hiring of Ben Itkin as Senior Trade Desk Executive. In this role, Mr. Itkin will be responsible for co-managing MCT's Trading Desk operations along with Head Trader and COO, Philip Rasori, as MCT continues to expand its team of mortgage traders due to growth in new client engagements.
Mr. Itkin has nearly 15 years of mortgage banking and capital markets experience that further bolsters MCT's management team. He is well-known and highly regarded in the mortgage industry, holds deep experience in secondary marketing, loan pricing and pipeline hedging, and has a noteworthy track record of growing the revenue and profitability of business units under his watch
"We are fortunate to add an executive of Ben's caliber with extensive capital markets experience and knowledge of the ins and outs of the mortgage industry," said Curtis Richins, president at MCT Trading, Inc. "We look to Ben to improve our clients' efficiency and execution within the MCT HALO Program and to structure innovative loan sale strategies that enable our clients to maximize profit performance. He will undoubtedly contribute significantly to our pipeline hedging disciplines while providing additional risk management know-how to our clients."
Prior to joining MCT, Mr. Itkin was the senior vice president for Bank of America's Negotiated Trade Desk for the correspondent lending channel. Before that, he was the first vice president of negotiated trading for Countrywide Home Loans, where he also held the position of first vice president of bulk trading for its correspondent lending business. In addition, Mr. Itkin was a senior brand manager in the warehouse lending unit at Indymac Bank. He holds an MBA from California State University, Northridge.
MCT continues to grow at an enviable rate. Earlier this year, the company was named to Inc. 5000's 2011 fastest-growing private companies list. MCT ranked 776 on the list with an industry rank in the financial services category of 39 and an impressive three-year sales growth rate of 405%. The company has been adding staff and office space to support its growing client base in a strategic, carefully planned fashion. MCT has consecutively doubled annual corporate revenue in 2010, and again in 2011.
About MCT Trading:
MCT Trading, Inc. is a risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, CA in May 2001, the company has expanded to include field sales and support offices in Philadelphia, PA; Dallas, TX; Charlotte, NC; and San Francisco, CA. MCT is recognized as a leading provider of mortgage pipeline hedging service and currently supports more than 70 clients on the HALO (Hedging And Loan sales Optimization) Program. For more information, please visit www.mct-trading.com or call (619) 543-5111.
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