Former Citi and U.S. Bank Executive Rajinder Singh Joins Pagaya as Chief Risk Officer
Pagaya Technologies (NASDAQ: PGY), an AI-driven financial technology company, has appointed Rajinder (Raj) Singh as Chief Risk Officer. With over 25 years of experience in global banking and financial services, Singh will oversee all aspects of risk management for Pagaya. His expertise includes deep regulatory experience and a proven track record across multiple asset classes.
Prior to joining Pagaya, Singh served as Chief Risk Officer for NewRez/Caliber Home Loans, managing risk for a $600 billion mortgage servicing rights portfolio and $130 billion annual mortgage originations. He has also held senior leadership roles at Citigroup, U.S. Bank, Genworth Financial, Ally Financial, and G.E. Capital.
Pagaya recently reported strong Q2 2024 results, with $2.3 billion in network volume and a record $50 million in adjusted EBITDA. The company's network now includes 31 lending partners and 120 institutional investors.
Pagaya Technologies (NASDAQ: PGY), un'azienda fintech guidata dall'AI, ha nominato Rajinder (Raj) Singh Chief Risk Officer. Con oltre 25 anni di esperienza nel settore bancario e nei servizi finanziari globali, Singh supervisionerà tutti gli aspetti della gestione del rischio per Pagaya. La sua esperienza include una profonda conoscenza delle normative e un comprovato storico in diversi settori degli asset.
Prima di unirsi a Pagaya, Singh ha ricoperto il ruolo di Chief Risk Officer per NewRez/Caliber Home Loans, gestendo il rischio per un portafoglio di diritti di servizio ipotecario da 600 miliardi di dollari e 130 miliardi di dollari in origini ipotecarie annuali. Ha anche ricoperto ruoli di leadership senior presso Citigroup, U.S. Bank, Genworth Financial, Ally Financial e G.E. Capital.
Pagaya ha recentemente riportato risultati solidi per il secondo trimestre del 2024, con 2,3 miliardi di dollari in volume di rete e un record di 50 milioni di dollari in EBITDA rettificato. La rete dell'azienda ora include 31 partner di prestito e 120 investitori istituzionali.
Pagaya Technologies (NASDAQ: PGY), una empresa de tecnología financiera impulsada por IA, ha nombrado Rajinder (Raj) Singh como Director de Riesgo. Con más de 25 años de experiencia en banca global y servicios financieros, Singh supervisará todos los aspectos de la gestión de riesgos de Pagaya. Su experiencia incluye un profundo conocimiento regulatorio y un historial comprobado en múltiples clases de activos.
Antes de unirse a Pagaya, Singh fue Director de Riesgo en NewRez/Caliber Home Loans, gestionando el riesgo de una cartera de derechos de servicio hipotecario de 600 mil millones de dólares y 130 mil millones de dólares en originaciones hipotecarias anuales. También ha ocupado altos cargos de liderazgo en Citigroup, U.S. Bank, Genworth Financial, Ally Financial y G.E. Capital.
Pagaya recientemente reportó sólidos resultados para el segundo trimestre de 2024, con 2.3 mil millones de dólares en volumen de red y un récord de 50 millones de dólares en EBITDA ajustado. La red de la empresa ahora incluye 31 socios prestamistas y 120 inversores institucionales.
Pagaya Technologies (NASDAQ: PGY), AI 기반의 금융 기술 회사가 Rajinder (Raj) Singh를 최고 위험 책임자로 임명했습니다. 25년 이상의 글로벌 은행 및 금융 서비스 경험을 가진 Singh는 Pagaya의 위험 관리의 모든 측면을 감독할 것입니다. 그의 전문성에는 깊은 규제 경험과 여러 자산 클래스에서 검증된 실적이 포함됩니다.
Pagaya에 합류하기 전 Singh는 NewRez/Caliber Home Loans에서 최고 위험 책임자로 재직하며 6천억 달러 규모의 주택 담보 대출 서비스 권리 포트폴리오와 연간 1천3백억 달러 규모의 주택 담보 대출 발행의 위험을 관리했습니다. 그는 또한 Citigroup, U.S. Bank, Genworth Financial, Ally Financial 및 G.E. Capital 등에서 고위 지도직을 맡았습니다.
Pagaya는 최근 2024년 2분기 강력한 실적을 보고했으며, 23억 달러의 네트워크 볼륨과 5천만 달러의 조정된 EBITDA 기록을 세웠습니다. 회사의 네트워크에는 현재 31개의 대출 파트너와 120개의 기관 투자자가 포함되어 있습니다.
Pagaya Technologies (NASDAQ: PGY), une entreprise de technologie financière alimentée par l'IA, a nommé Rajinder (Raj) Singh directeur des risques. Fort de plus de 25 ans d'expérience dans la banque globale et les services financiers, Singh supervisera tous les aspects de la gestion des risques chez Pagaya. Son expertise inclut une expérience réglementaire approfondie et un parcours éprouvé dans plusieurs classes d'actifs.
Avant de rejoindre Pagaya, Singh a été directeur des risques pour NewRez/Caliber Home Loans, gérant les risques d'un portefeuille de droits de service hypothécaire de 600 milliards de dollars et 130 milliards de dollars de prêts hypothécaires annuelle. Il a également occupé des postes de direction au sein de Citigroup, U.S. Bank, Genworth Financial, Ally Financial et G.E. Capital.
Pagaya a récemment annoncé de bons résultats pour le deuxième trimestre de 2024, avec 2,3 milliards de dollars de volume de réseau et un record de 50 millions de dollars d'EBITDA ajusté. Le réseau de l'entreprise compte désormais 31 partenaires de prêt et 120 investisseurs institutionnels.
Pagaya Technologies (NASDAQ: PGY), ein KI-gesteuertes Finanztechnologieunternehmen, hat Rajinder (Raj) Singh zum Chief Risk Officer ernannt. Mit über 25 Jahren Erfahrung im globalen Bank- und Finanzdienstleistungssektor wird Singh alle Aspekte des Risikomanagements bei Pagaya überwachen. Seine Expertise umfasst tiefgehende regulatorische Erfahrungen und eine nachweisliche Erfolgsbilanz in verschiedenen Anlageklassen.
Vor seinem Eintritt bei Pagaya war Singh Chief Risk Officer bei NewRez/Caliber Home Loans, wo er das Risiko eines Portfolios von Hypothekenservicing-Rechten in Höhe von 600 Milliarden Dollar und jährlichen Hypothekenoriginationen in Höhe von 130 Milliarden Dollar verwaltete. Er hat auch leitende Positionen bei Citigroup, U.S. Bank, Genworth Financial, Ally Financial und G.E. Capital innegehabt.
Pagaya berichtete kürzlich über starke Ergebnisse im 2. Quartal 2024, mit 2,3 Milliarden Dollar im Netzwerkvolumen und einem Rekord von 50 Millionen Dollar im bereinigten EBITDA. Das Netzwerk des Unternehmens umfasst nun 31 Kreditgeber und 120 institutionelle Investoren.
- Appointment of experienced Chief Risk Officer with 25+ years in global banking
- Q2 2024 network volume reached $2.3 billion
- Record $50 million in adjusted EBITDA for Q2 2024
- Expanded network to 31 lending partners and 120 institutional investors
- Secured forward flow arrangement for up to $1 billion with Castlelake
- Achieved first triple-A rating on a personal loan ABS
- None.
Insights
The appointment of Rajinder Singh as Pagaya's Chief Risk Officer is a strategic move that could positively impact the company's risk management practices. With his extensive experience in global banking and financial services, Singh brings valuable expertise to navigate the complex regulatory landscape of AI-driven financial solutions. This appointment aligns with Pagaya's focus on responsible growth and could enhance investor confidence.
The company's recent financial performance, including
Pagaya's integration of AI and machine learning into risk management strategies represents a significant technological advancement in the financial sector. Singh's expertise in leveraging these technologies could lead to more sophisticated risk assessment models, potentially improving loan quality and reducing default rates. This tech-driven approach may give Pagaya a competitive edge in the market.
The company's focus on AI-driven product solutions for the financial ecosystem aligns with the broader trend of digital transformation in banking. As Pagaya continues to innovate, it could disrupt traditional lending models and attract more partners seeking advanced risk management tools. The combination of big data analytics and AI in financial services is likely to yield more accurate predictions and personalized financial products, potentially expanding access to credit for underserved populations.
Pagaya's growth strategy and recent appointments indicate a market expansion phase. The diversification of funding sources, including the triple-A rating on a personal loan ABS, suggests improved market credibility and could lead to lower borrowing costs. This financial engineering, coupled with AI-driven risk management, positions Pagaya to potentially capture a larger market share in the consumer credit technology space.
The company's network growth to 31 lending partners and 120 institutional investors demonstrates strong market penetration. However, investors should monitor how effectively Pagaya can scale its operations while maintaining risk control under Singh's leadership. The success of this expansion will largely depend on the company's ability to consistently deliver value to its partners through its AI and machine learning capabilities, potentially reshaping the landscape of consumer credit assessment and distribution.
With 25+ years of experience in global banking and financial services, Raj brings a wealth of expertise in risk management
"We are thrilled to welcome Raj to our team as our Chief Risk Officer. With deep regulatory experience, coupled with a proven track record across multiple asset classes, his expertise and leadership will be instrumental as we navigate the complexities of our industry and continue to drive our strategic vision forward,” said Sanjiv Das, President of Pagaya. “We're excited to see the impact he will have in shaping our risk management practices and enhancing our overall business resilience, as the premier consumer credit technology solution for the banking ecosystem.”
Most recently, Singh served as Chief Risk Officer for NewRez/Caliber Home Loans, a residential mortgage lending and servicing company. There, he was responsible for managing all aspects of risk for the
"I’m incredibly excited to join this all-star team and contribute to the continued success of the organization. The opportunity to leverage AI, big data and cutting-edge technology in risk management strategies, all in an effort to expand access to financial opportunities, is something I’m particularly passionate about,” said Raj. “I look forward to collaborating with such a talented group to drive product innovation, enhance our regulatory approach, and deliver outstanding results for our banking and lending partners utilizing our unique AI and machine learning capabilities.”
Singh’s new role supports Pagaya’s focus on driving growth among major US lending partners, as recently reported in the Company’s 2024 Q2 earnings results. The Company achieved a network volume of
About Pagaya Technologies
Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides consumer credit and other products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. For more information, visit pagaya.com.
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Source: Pagaya Technologies LTD.
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