Movement Mortgage names Laura Bowles as CFO

Laura Bowles, daughter-in-law of former University of North Carolina system president Erskine Bowles, has been named chief financial officer of Movement Mortgage.

The company made the announcement Wednesday, although Bowles' first day was March 1.

Bowles becomes the first CFO for the company, which was co-founded in Charlotte in 2008 by ex-Carolina Panther Casey Crawford. Before her hire, Crawford, the company's CEO, said he had been handling CFO duties.

Bowles is a former executive for Citibank, where she was director and head of consumer and small business lending products. She has also worked as a risk manager for Bank of America and as a chief financial officer for Wachovia.

Bowles' hire comes as Crawford is pushing for the company to become the largest privately held mortgage lender in the U.S. Over the next 10 years, Crawford expects Movement Mortgage to be closing one out of every 10 loans for home purchases, he said.

The company is now headquartered in Virginia Beach, Va., and has roughly 1,200 employees. Approximately 250 are in Charlotte, Crawford said.