Keystone Asset Management Inc., a national provider of REO, default management, and property valuation services, announced last week the retirement of co-founder Nick Salamone.

The announcement comes as part of a requested transition for Salamone as he begins to focus on new consulting developments and business ventures.

Co-founder Jane Hennessy assumed the role of CEO and president earlier this year so that plans for a smooth transition could be made, the company explained.

“Keystone is Nick Salamone’s legacy,” Hennessy said, “and we will continue to embark on his vision.”

Hennessy went on to say, “Over 16 years ago, Nick had an idea about starting this company – he was very firm about that idea and together we made it work successfully. He has the talent and drive to pursue additional business development opportunities which he’s wanted to do for some time.”

Keystone says it will continue its work “as a premier REO outsourcing company for the default marketplace” as Salamone begins a new chapter in his business consulting endeavors.