PennyMac Financial Services (PFSI) and PennyMac Mortgage Investment Trust (PMT) have announced that senior managing director and chief operating officer Andrew Chang is leaving the companies to pursue other opportunities.
Chang (pictured), who has been with PennyMac since 2008, will step down from his roles at the end of the year. However, he will become a special advisor to David Spector, chairman and chief executive officer of PFSI and PMT.
In a release announcing the move, Spector said Chang “has been a dedicated leader and founding executive of PennyMac from its very beginning in 2008, and I am immensely grateful for the invaluable contributions he has made across the organization through his many and varied roles.