Plaza Home Mortgage Corp. Switches to Dual Presidents

Plaza Home Mortgage Corp. said Tuesday that it has moved two executives into the newly created office of the president in an effort to shore up a top management team burdened by the company’s fast growth.

Robert K. Cole, a financial industry executive with more than 25 years experience, was hired as president and chief operating officer/finance. Brad Morrice, a Plaza executive vice president, was promoted to president and chief operating officer/administration.

John T. French, the Santa Ana company’s chairman and chief executive, said the concept of dual leaders isn’t unique. The idea is to create a management structure that is organized by tasks to better manage the company’s internal growth and national expansion.

The company, mainly through its Plaza Home Mortgage Bank thrift subsidiary, is the ninth-largest provider of home loans in California.