Radian’s Mortgage Insurance President Derek Brummer Announces Retirement
Radian Group Inc. (NYSE: RDN) announced that Derek Brummer, President of Mortgage Insurance, will retire on July 3, 2025, after 23 years with the company. Sumita Pandit, current Chief Financial Officer, will assume the expanded role of President and CFO upon Brummer's retirement, overseeing all aspects of Radian's mortgage insurance business.
Brummer joined Radian in 2002 as Chief Risk Officer and General Counsel for the company's former financial guaranty company, becoming Chief Risk Officer in 2013 and President of Mortgage Insurance in 2018. Pandit, who joined Radian in March 2023 as Chief Growth Officer and became CFO in May 2023, brings over two decades of investment banking experience, including roles at dLocal, J.P. Morgan, and Goldman Sachs.
Radian Group Inc. (NYSE: RDN) ha annunciato che Derek Brummer, Presidente di Mortgage Insurance, andrà in pensione il 3 luglio 2025, dopo 23 anni con l'azienda. Sumita Pandit, attuale Direttore Finanziario, assumerà il ruolo ampliato di Presidente e CFO al momento del pensionamento di Brummer, supervisionando tutti gli aspetti del business di assicurazione sui mutui di Radian.
Brummer è entrato in Radian nel 2002 come Chief Risk Officer e Consigliere Generale per la precedente compagnia di garanzia finanziaria dell'azienda, diventando Chief Risk Officer nel 2013 e Presidente di Mortgage Insurance nel 2018. Pandit, che è entrata in Radian a marzo 2023 come Chief Growth Officer e è diventata CFO a maggio 2023, porta con sé oltre due decenni di esperienza nell'investment banking, inclusi ruoli in dLocal, J.P. Morgan e Goldman Sachs.
Radian Group Inc. (NYSE: RDN) anunció que Derek Brummer, Presidente de Mortgage Insurance, se retirará el 3 de julio de 2025, después de 23 años en la compañía. Sumita Pandit, actual Directora Financiera, asumirá el nuevo rol de Presidenta y CFO tras la jubilación de Brummer, supervisando todos los aspectos del negocio de seguros de hipoteca de Radian.
Brummer se unió a Radian en 2002 como Chief Risk Officer y Asesor Legal de la antigua compañía de garantía financiera de la empresa, convirtiéndose en Chief Risk Officer en 2013 y Presidente de Mortgage Insurance en 2018. Pandit, quien se unió a Radian en marzo de 2023 como Chief Growth Officer y se convirtió en CFO en mayo de 2023, aporta más de dos décadas de experiencia en banca de inversión, incluidos roles en dLocal, J.P. Morgan y Goldman Sachs.
Radian Group Inc. (NYSE: RDN)는 Mortgage Insurance의 사장인 Derek Brummer가 2025년 7월 3일에 은퇴한다고 발표했습니다. 그는 23년 동안 회사에 재직했습니다. Sumita Pandit는 현재 CFO로서 Brummer의 은퇴 후 확대된 역할로서 사장겸 CFO의 직무를 맡게 되며, Radian의 모기지 보험 사업의 모든 측면을 감독하게 됩니다.
Brummer는 2002년에 Radian에 Chief Risk Officer이자 회사의 이전 금융 보증 회사의 법률 고문으로 합류했으며, 2013년에 Chief Risk Officer가 되었고 2018년에는 Mortgage Insurance의 사장이 되었습니다. Pandit는 2023년 3월에 Radian에 Chief Growth Officer로 합류하였고 2023년 5월에 CFO가 되었습니다. 그녀는 dLocal, J.P. Morgan 및 Goldman Sachs에서의 경력을 포함하여 20년 이상의 투자 은행 경험을 보유하고 있습니다.
Radian Group Inc. (NYSE: RDN) a annoncé que Derek Brummer, Président de l'Assurance Hypothécaire, prendra sa retraite le 3 juillet 2025, après 23 ans au sein de l'entreprise. Sumita Pandit, actuelle Directrice Financière, assumera le rôle élargi de Présidente et CFO après le départ à la retraite de Brummer, supervisant tous les aspects de l'activité d'assurance hypothécaire de Radian.
Brummer a rejoint Radian en 2002 en tant que Chief Risk Officer et Conseiller Juridique de l'ancienne compagnie de garantie financière de l'entreprise, devenant Chief Risk Officer en 2013 et Président de l'Assurance Hypothécaire en 2018. Pandit, qui a rejoint Radian en mars 2023 en tant que Chief Growth Officer et est devenue CFO en mai 2023, possède plus de vingt ans d'expérience en banque d'investissement, y compris des rôles chez dLocal, J.P. Morgan et Goldman Sachs.
Radian Group Inc. (NYSE: RDN) gab bekannt, dass Derek Brummer, Präsident der Mortgage Insurance, am 3. Juli 2025 nach 23 Jahren im Unternehmen in den Ruhestand treten wird. Sumita Pandit, die derzeitige Finanzvorstand, wird nach Brummers Ruhestand die erweiterte Rolle als Präsidentin und CFO übernehmen und alle Aspekte des Hypothekenversicherungsgeschäfts von Radian überwachen.
Brummer trat 2002 als Chief Risk Officer und General Counsel der ehemaligen Finanzgarantiefirma des Unternehmens in Radian ein, wurde 2013 Chief Risk Officer und 2018 Präsident der Mortgage Insurance. Pandit, die im März 2023 als Chief Growth Officer zu Radian kam und im Mai 2023 CFO wurde, bringt mehr als zwei Jahrzehnte Erfahrung im Investment Banking mit, einschließlich Positionen bei dLocal, J.P. Morgan und Goldman Sachs.
- Smooth leadership transition planned with 18-month notice period
- New President brings extensive financial markets and investment banking expertise
- Consolidation of leadership roles may lead to operational efficiencies
- Loss of 23-year veteran executive with deep institutional knowledge
- Potential execution risk with dual President-CFO role consolidation
Insights
The appointment of Sumita Pandit as President and CFO of Radian represents a strategic consolidation of leadership roles that could drive operational efficiency. Her extensive background in fintech and investment banking, particularly at J.P. Morgan and Goldman Sachs, brings valuable expertise in modern financial technologies and market dynamics to Radian's core mortgage insurance business. The dual role structure could streamline decision-making processes and potentially reduce executive compensation costs.
The timing of Derek Brummer's retirement in July 2025 allows for a well-planned six-month transition period, reducing operational risks. Pandit's previous role as Chief Growth Officer and her experience in developing innovation plans aligns well with the evolving mortgage insurance landscape, where digital transformation and technological integration are becoming increasingly critical.
The market's reaction to this leadership transition will likely be neutral to slightly positive, given Pandit's strong credentials and the orderly succession planning. Her background in fintech could accelerate Radian's technological advancement initiatives, potentially leading to improved operational efficiency and competitive advantages in the
Sumita Pandit, Radian’s Chief Financial Officer, to Assume Mortgage Insurance Oversight in New Role as Radian’s President and Chief Financial Officer
Derek Brummer, President, Mortgage Insurance, Radian (Photo: Business Wire)
“I’ve been privileged to be part of Radian’s rich 50-year history, and I am proud of what we have accomplished together,” Brummer said. “As I retire, I know Radian is strategically well positioned today and for the future.”
Brummer joined Radian in 2002 as Chief Risk Officer and General Counsel for Radian’s former financial guaranty company. He was appointed Radian’s Chief Risk Officer in 2013 and assumed the role of President, Mortgage Insurance in 2018.
“Over the past 23 years at Radian, Derek has been an instrumental member of our leadership team contributing to the company’s strong strategic positioning for the future. We appreciate all that he has done at Radian, and most importantly, we wish him all the best in his well-deserved retirement,” said Rick Thornberry, Chief Executive Officer. “Sumita brings unique experience to the role including an exceptional blend of financial markets and investment banking expertise, as well as broad knowledge of Radian’s businesses. She is optimally positioned to lead our experienced mortgage insurance team to continue to deliver our products and services to our customers and achieve our long-term strategic goals to drive value for our stockholders.”
Pandit was appointed Senior Executive Vice President and CFO in May 2023. She joined Radian in March 2023 as the company’s first Chief Growth Officer, working to develop and execute the company’s long-term growth and innovation plans.
Pandit has more than two decades of experience in investment banking, advising companies across verticals in fintech, including payments, financial software, neo-banks, and insurance technology. She joined Radian after serving more than two years as the Chief Operating Officer of a global financial technology company, dLocal, where she oversaw client management, marketing, investor relations, and corporate development. Prior to dLocal, Pandit worked at J.P. Morgan in several Managing Director roles, including as Global Head of FinTech Investment Banking. Before joining J.P. Morgan, Pandit was a Vice President at Goldman Sachs in their Financial Institutions Group. Pandit earned an MBA from The Wharton School at the University of
About Radian
Radian is a catalyst for homeownership that transforms risk into opportunity through services and technologies that empower housing and capital market participants to act with confidence. The Radian family of companies is shaping the future of mortgage and real estate services through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, real estate, and title services. Visit radian.com to see how we’re creating possibilities for a place to call home.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250113832621/en/
For Investors:
Dan Kobell - Phone: 215.231.1113
email: daniel.kobell@radian.com
For the Media:
Rashi Iyer - Phone 215.231.1167
email: rashi.iyer@radian.com
Source: Radian Group Inc.
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