FOA appoints new board members, including former US senator

Andrew Essex

Andrew Essex, whom the company describes as a leader in marketing and brand strategy, formerly served as CEO of advertising agency Droga5. The company aims to leverage his expertise in this area to better connect with its core demographic and other trusted advisers within its sphere of influence.

“With decades of experience in media, communications, and corporate storytelling, Essex brings a deep understanding of consumer engagement and brand positioning that will help FOA continue to educate and empower retirees,” the company said.

Cory Gardner is also joining the FOA board. He served as a U.S. senator for Colorado from from 2015 to 2021, and he also previously served in the U.S. House of Representatives and in the Colorado state House. Gardner’s experience in government is expected to assist FOA as it navigates the current environment.

“With extensive experience in legislative affairs, financial services and regulatory policy, Gardner will provide valuable insights into the evolving financial landscape and help guide FOA in fostering relationships with policymakers and industry stakeholders,” the company said.

FOA CEO Graham Fleming told HousingWire’s Reverse Mortgage Daily (RMD) that both appointments are expected to benefit the company’s pursuit of its business objectives.

Cory Gardner

“The additions of Andrew Essex and Cory Gardner to the Board are exciting — marking another milestone in our industry leadership,” Fleming said. “Their combined expertise in brand growth, business transformation, and public policy is from the highest levels and will be instrumental in driving our mission forward.”

Brian Libman, chairman and founder of FOA, added that the appointments should help foster more targeted efforts on the company’s marketing and legislative fronts.

“Andrew’s innovative marketing acumen and Cory’s deep understanding of public policy will be instrumental as we continue to enhance our offerings and advocate for responsible financial solutions for older Americans,” Libman said in a statement.

Essex previously served as a senior adviser at McKinsey & Co., and as a former CEO of Tribeca Enterprises, which organizes the annual Tribeca Film Festival. He authored a book, “The End of Advertising: Why It Had to Die and the Creative Resurrection to Come.” He also co-authored three other books and has served as a commentator for outlets like ABC and CNN. 

Gardner was originally elected to the Senate during the 2014 midterm elections, but he was defeated by former Colorado Gov. John Hickenlooper during the 2020 campaign.

He has remained active in political advocacy during his post-Senate career, chairing a political action committee (PAC) for Republicans, advising a national lobbying firm and serving as co-chair of a super PAC in support of Sen. Tim Scott (R-S.C.)’s 2024 presidential campaign.

During his Senate term, Gardner served on the commerce, science and transportation; energy and natural resources; and foreign relations committees.

According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), FOA ranked as the No. 2 reverse mortgage lender in the country with 5,893 loans in the 12-month period ending Jan. 31.