An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Broadmark Realty Capital Announces Leadership Transition
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Broadmark Realty Capital (NYSE: BRMK) announces a leadership transition as Jeffrey Pyatt will become Executive Chairman, succeeding Joseph Schocken, who retires on November 14, 2021. This marks two years since BRMK's public listing. The Board has initiated a search for a new President to bolster the executive team. Pyatt expressed optimism about the company’s future growth and success, highlighting the solid foundation laid by Schocken during his tenure.
Positive
Leadership transition may bring fresh perspectives.
Search for a new President indicates proactive succession planning.
Negative
Retirement of Schocken may create a leadership gap.
Potential concerns regarding continuity during the transition.
- Jeffrey Pyatt to Assume Executive Chairman Role -
- Commences Search for President to Further Enhance and Strengthen Senior Leadership Team -
SEATTLE--(BUSINESS WIRE)--
Broadmark Realty Capital Inc. (NYSE: BRMK) (“BRMK” or the “Company”), an internally managed secured real estate finance company, today announced that Jeffrey Pyatt, President and Chief Executive Officer, will assume the role of Chairman of the Board of Directors upon the retirement of Joseph Schocken, and his appointment as honorary Chairman Emeritus. Mr. Schocken’s retirement from the Board of Directors will become effective on November 14, 2021, the second anniversary of the Company’s completion of the business combination resulting in BRMK becoming a public company. Additionally, as part of the Company’s ongoing succession planning efforts, the Board of Directors has commenced a search for a President to further enhance the depth of the executive team for the future.
“Joe and I founded Broadmark 11 years ago with the vision of becoming a leader in providing capital to small and mid-sized builders, supporting the development of high-quality housing for families across the country,” stated Mr. Pyatt. “He has been a great partner, and the Board and I have benefited from his vast experience and dedication as Chairman since our listing two years ago. We wish the best for Joe in his retirement. Moving forward, I am excited to assume the role of Chairman, and believe we are well-positioned for continued growth and success.”
“It has been an honor to have served as Chairman during these first two years of public ownership,” stated Mr. Schocken. “During that time, we have effectively navigated the unprecedented challenges of a global pandemic, while staying true to the foundational elements that have made us successful, including disciplined lending, local expertise and maintaining a fortress balance sheet. I am deeply grateful to all who have made this possible; our outstanding team, investors, partners, advisors, and the many individuals who have contributed to our success. With great respect and appreciation, I wish everyone much luck, success and look forward to the next great chapter at Broadmark.”
About Broadmark Realty Capital
Broadmark Realty Capital Inc. (NYSE: BRMK) is an internally managed commercial real estate finance company that offers short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation or development of residential or commercial properties. Broadmark Realty Capital manages and services its loan portfolio across a variety of market conditions and economic cycles.
