Pennymac names new strategy chief, promotes two executives

PennyMac Financial Services, Inc. (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) announced executive leadership changes, according to a company statement.

Kevin Ryan will join the company October 13, 2025, as Senior Managing Director, Chief Strategy Officer. Marshall Sebring was promoted to Senior Managing Director, Chief Investment Officer, while Shiva Iyer will assume the role of Senior Managing Director, Chief Enterprise Risk Officer.

Ryan previously served as Chief Financial Officer at Better (NASDAQ: BETR), where he managed finance, accounting, and risk functions. He led a 2.5-year public listing process through a special purpose acquisition company merger that closed in August 2023. Before joining Better in 2020, Ryan spent over two decades at Morgan Stanley as a Managing Director of Investment Banking and Head of Banks and Diversified Finance.

Sebring joined Pennymac in 2024 to lead Portfolio Risk Management and will now oversee enterprise investment strategy and market and interest-rate risk management for both PFSI and PMT. He previously held positions as Managing Director at JPMorgan Chase & Co., managing the bank's Agency MBS investment portfolio, and as Managing Director and fixed-income portfolio manager at BlackRock, Inc.

Iyer has worked at Pennymac since December 2016, first as Senior Enterprise Risk Officer and most recently as Chief Audit Executive. He previously held executive positions at MUFG and Bank of America with oversight of credit risk, mortgage operations, and regulatory response.

For the twelve months ended June 30, 2025, PennyMac Financial originated $134 billion in loans by unpaid principal balance. As of June 30, 2025, the company serviced loans totaling $700 billion in unpaid principal balance.

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