Padilla inspired innovation and customer focus as CEO
MINNEAPOLIS, MN (April 26, 2021) – Eduardo Padilla, executive chair of NorthMarq, announced today that he is retiring May 14 after nearly 30 years with the company, which he built while advocating core values of integrity, customer focus, and entrepreneurship. He served as chief executive officer from 1999 to 2019, guiding the company’s growth from $3.5 billion in transaction volume to $16 billion at year-end 2020, and loan servicing volume from $10 billion to $65 billion. Padilla became executive chair in January 2020 when Jeffrey Weidell was promoted to CEO.
“As I think of all the key moments in our company history, nothing compares to the date in 1999 when we sold Northland Financial to the Pohlad family. One year later, I was given the business opportunity of a lifetime when the Pohlad family promoted me to CEO of the newly formed NorthMarq,” said Padilla. “I have no doubt that our employee-first culture and our competitive nature will continue to be combined with our high ethical standards. We are a company that creates careers and changes lives, and I’m hopeful that will be our legacy.”
Under his leadership, the company completed 15 acquisitions starting with the largest, Legg Mason, in 2003. The company grew to nearly 600 employees in 40 locations, retaining its cultural integrity and philosophy of entrepreneurship through each acquisition. Bob Pohlad points to Padilla’s leadership in that growth. “Ed is one of those people you just want to be around. He built and managed this business through his experience and expertise, and by hiring good people — giving them the room to do their best,” Pohlad said.
“Ed brought us all together to become a unified NorthMarq and helped create the environment where people stay for their careers, quite a testament to his leadership. We will miss his stewardship and insights,” said Weidell.
A key driver of all Pohlad-owned companies is a commitment to the community and employees, which Padilla relished. “Ed’s personal commitment to excellence was apparent in his passion for every transaction and every employee at NorthMarq. In addition, he brought that same passion to his involvement in community organizations in the Twin Cities that help the less fortunate, a core value of the Pohlad Companies,” said Pohlad Companies’ CEO Bert Colianni.
Padilla has been deeply committed to the Twin Cities community, where he served as chair of CommonBond Communities Board after 10 years on the CommonBond Board of Directors. CommonBond Communities is the Midwest’s largest nonprofit provider of affordable housing with services and has developed, owns, or manages 5,000 affordable rental apartments and townhomes throughout 50 cities in Minnesota, Wisconsin, and Iowa.
Padilla is a former board member of CornerHouse, an interagency child abuse evaluation and training center in Minneapolis. In addition, he has served on the board of the Neighborhood Development Center in St. Paul, which works in low-income neighborhoods to support resident-owned small businesses.
Before being promoted to CEO in 1999, Padilla served as NorthMarq’s executive vice president and regional managing director. He joined NorthMarq’s predecessor Northland Financial in 1991 as a producer and managing director of the Minneapolis regional office. He obtained his B.A. from the University of Minnesota and his J.D. from the William Mitchell College of Law.