Company veteran will step in as chief capital markets officer and chief investment officer
Vandy Fartaj, senior managing director and chief investment officer, will be leaving PennyMac Financial Services (PFSI) and PennyMac Mortgage Investment Trust (PMT) to pursue other interests, the companies announced.
Chairman and CEO David Spector commented: "Vandy has been with Pennymac for nearly 15 years, and I am thankful for his long tenure, tireless efforts and the numerous contributions he has made throughout our history, including helping us pioneer lender credit risk transfer transactions and the first mortgage servicing rights securitizations."
PennyMac has tapped William Chang (pictured) as the new senior managing director and chief capital markets officer for PFSI. He will also serve as PMT's senior managing director and chief investment officer.
Chang joined PennyMac in September 2012 as senior managing director and deputy chief investment officer. Before that, he served in the Mergers & Acquisitions Group at Credit Suisse for over a decade.
"I am excited for Will to step in as chief capital markets officer and chief investment officer," Spector said. "I am confident that his leadership and vast experience in the capital markets and knowledge of the investment landscape will contribute to our future success, positioning the companies extraordinarily well as the mortgage market continues to evolve, and new investment opportunities emerge."
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