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WASHINGTON, DC-CWCapital Asset Management, one of the largest specialservicers in the industry, is expanding both headcount and offices–an unsurprising success story in this particular economic environment.

The CW Financial Services subsidiary has made several hires in itslocally-based headquarters with the intent of broadening the assetcategories it can handle. These new hires include industry veteransBurr Ault, Daniel Balkam, Patrick Connell, David Smith, Sam Stern, andGeoffrey Wood, all named vice presidents and senior asset managers.

The company has also expanded operations to Baltimore, Dallas andBoston. It is building new or expanded expertise in the insurance,hospitality, multifamily and office property management anddisposition sectors–all categories in which the number of speciallyserviced assets are increasing, the firm notes.

Indeed, CWCAM is now the second largest CW company with the new hireson board, according to Charles Spetka, CEO of CW Financial Services.Future growth is expected of the firm, he says in a preparedstatement. CWCAM did not return a call to GlobeSt.com in time forpublication.

The new hires, on average, each have 20 years of industry experience.Ault most recently was president of Ault Real Estate Group,specializing in REO workouts and real estate advisement for financialinstitutions. Balkam was a former executive with Bridger CommercialFunding. Connell was a regional asset manager for the New BostonFund. Smith was vice president of portfolio management for GeneralElectric’s Healthcare Financial Services. Stern was principal of SBSAssociates LLC in New York and Wood was with Opus East.

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