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IMX Exchange, in a bid to promote creativity in product development, is decentralizing its business operations.
Richard Wilkes, CEO of IMX, which provides an online platform for loan trading, said company operations will be handled by four business managers.
Speaking at the Mortgage Internet B2B Conference in Chicago, Mr. Wilkes said the aim of the move is "more accountability and less bureaucracy."
Each business manager will handle product development and engineering, while doing their own sales and marketing, as well as coming up with budgets.
Mr. Wilkes...