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PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust announced on Monday new executive leadership appointments. Marshall Sebring has been promoted to senior managing director and chief investment officer, while Shiva Iyer will assume the role of senior managing director and chief enterprise risk officer.
The release also confirmed that Kevin Ryan will join the company on Oct. 13 as senior managing director and chief strategy officer, which HousingWire reported last week.
“These appointments are a vital step in aligning our organization with future growth opportunities and the continued evolution of our business,” said David Spector, chairman and CEO of Pennymac. “Adding a leader of Kevin’s caliber and recognizing the proven talents of Marshall and Shiva adds to and highlights our deep bench of experienced leadership. These enhancements to our executive team are designed to optimize our business execution, elevate our risk management framework, and ensure we have the right strategic focus to continue driving our business forward.”
Ryan joins Pennymac from Better, where he served as chief financial officer and oversaw finance, accounting and risk functions. He led the company’s public listing process through a SPAC merger completed in August 2023 and directed restructuring efforts to improve efficiency across product, technology, sales and operations.
Before joining Better in 2020, Ryan spent more than two decades at Morgan Stanley as managing director and head of banks and diversified finance within investment banking, covering financial technology, consumer finance and mortgage REITs.
Sebring, now CIO for both PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust, will oversee enterprise investment strategy and market and interest-rate risk management. He joined Pennymac in 2024 to lead portfolio risk management, where he strengthened the company’s interest-rate hedging program and advanced PMT’s capital-allocation framework.
Previously, Sebring was a managing director at JPMorgan Chase & Co., overseeing the bank’s agency MBS portfolio, and a fixed-income portfolio manager at BlackRock Inc.
Iyer will lead Pennymac’s enterprise risk functions, drawing on his extensive background in risk management, audit and corporate finance. He joined the company in 2016 and has served as senior enterprise risk officer and chief audit executive.
Before Pennymac, Iyer held executive roles at MUFG and Bank of America, overseeing credit risk, mortgage operations and regulatory response.
