Gregory S. Tornquist has been elected chairman of the board at mortgage subservicer Cenlar FSB. He will continue to serve as the bank's president and CEO.
As per a company press release, Tornquist will succeed Michael W. Young, who led the company as chairman from the time of Cenlar's incorporation in 1984.
Young will continue with Cenlar in the new role of vice chairman of the board to both Cenlar FSB and Cenlar Capital Corp.
Since joining Cenlar in 1987, Tornquist has played a lead role in the company's servicing and subservicing business, having previously served as chief financial officer and executive vice president. He was elected to Cenlar Capital's board of directors in 1999 and Cenlar FSB's board in 2005.