Radian Appoints Sumita Pandit as Chief Growth Officer

Rhea-AI Summary

Radian Group Inc. (NYSE: RDN) has announced the appointment of Sumita Pandit as Senior Executive Vice President and Chief Growth Officer, effective March 6, 2023. Pandit will join the executive leadership team, focusing on developing and implementing long-term strategic growth plans. CEO Rick Thornberry expressed confidence in Pandit's experience, particularly in digital transformation within financial sectors. Pandit previously served as COO at dLocal and held leadership roles at J.P. Morgan and Goldman Sachs. This strategic move aims to leverage Radian's strong capital position and accelerate its growth strategy in the evolving mortgage and real estate markets.

Positive

• Appointment of Sumita Pandit is expected to bring fresh perspectives and leadership to the company.
• Pandit has a strong background in digital transformation and financial services, which aligns with Radian's strategic goals.

Negative

• Concerns regarding continuity and experience gaps in the executive team following the management change.

WAYNE, Pa.--(BUSINESS WIRE)-- Radian Group Inc. (NYSE: RDN) today announced that Sumita Pandit has been appointed Senior Executive Vice President and Chief Growth Officer effective March 6, 2023. Reporting to Radian’s Chief Executive Officer Rick Thornberry, she will join the company’s executive leadership team and lead activities associated with developing and implementing the company’s long-term strategic growth plans.

Sumita Pandit, Chief Growth Officer, Radian (Photo: Business Wire)

“I am delighted to have Sumita join our team and I look forward to working with her to develop and execute our comprehensive long-term growth strategy. She is a talented executive with a successful track record of helping transformative digital companies achieve their growth plans. Given her broad experience, Sumita is an excellent addition to complement our outstanding team as we continue to focus on accelerating our strategic vision for Radian in a rapidly changing marketplace,” said Thornberry. “In this position, Sumita will be focused on leveraging Radian’s strong capital position and strategic financial flexibility to identify, develop and execute on opportunities to achieve our long-term strategic goals.”

“I am excited to join Radian and look forward to partnering with Rick and the rest of the leadership team to drive the company into its next phase of growth,” Pandit said. “Radian is a leader in the mortgage and real estate markets, and its focus on digital transformation puts it squarely in the vanguard of what’s next in those sectors. With strong customer relationships, proprietary data and analytics platforms, and innovative digital products and services, combined with a talented team and capital resources, I believe Radian is uniquely positioned to lead the mortgage and real estate markets into the future and I am excited to be a member of the team.”

Pandit joins Radian after serving as the Chief Operating Officer of global digital payment company, dLocal, since 2021. Previously, Pandit was a Managing Director and Global Head of Fintech Investment Banking for J.P. Morgan. Prior to J.P. Morgan, Pandit worked at Goldman Sachs. During her investment banking career, she advised some of the world’s most transformational companies across industry verticals including fintech, proptech, insurtech, financial software and neo-banks. In 2021, she was named to the Top 25 Women Leaders in Financial Technology list by The Financial Technology Report. She serves on the board of Pushpay, a public company that offers donor engagement software to non-profits. Pandit earned an MBA from The Wharton School at the University of Pennsylvania, where she was a Palmer Scholar, and earned her undergraduate degree in Electrical Engineering from the National Institute of Technology, India.

About Radian

Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit radian.com and homegenius.com to learn more about how Radian and its pioneering homegenius platform are building a smarter future for mortgage and real estate services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005999/en/

For Investors:

John Damian - Phone: 215.231.1383

email: john.damian@radian.com

For the Media:

Rashi Iyer - Phone 215.231.1167

email: rashi.iyer@radian.com

Source: Radian Group Inc.

FAQ

Who is Sumita Pandit and what is her role at Radian Group?

Sumita Pandit is the newly appointed Senior Executive Vice President and Chief Growth Officer at Radian Group, effective March 6, 2023.

What experience does Sumita Pandit bring to Radian Group?

Pandit has extensive experience in digital transformation, having served as COO at dLocal and in leadership roles at J.P. Morgan and Goldman Sachs.

Why was Sumita Pandit appointed as Chief Growth Officer?

Her appointment aims to drive Radian's long-term growth strategy and leverage its strong capital position in the mortgage and real estate markets.

What are the potential impacts of this management change on Radian (NYSE: RDN)?

The change could lead to accelerated strategic growth and innovation in Radian's services, although it may raise concerns about executive team continuity.