New Century President to Assume COO Duties

Irvine mortgage lender New Century Financial Corp. named Brad A. Morrice, its vice chairman and president, to the additional post of chief operating officer. In a press release Friday, the company said Morrice, currently co-chief executive of its mortgage unit, also will become the unit’s sole chief executive, following the departure of Steve Holder. Holder also was vice chairman, chief operating officer and a director of the company.