PennyMac Mortgage Investment Trust announced that Vandy Fartaj is stepping down from his position as Senior Managing Director and Chief Investment Officer of both PFSI and PMT, in order to pursue other interests. William Chang has been appointed to the role of Senior Managing Director and Chief Capital Markets Officer for PFSI and Senior Managing Director and Chief Investment Officer for PMT. Mr. Chang joined Pennymac more than 10 years ago and has a successful track record in various management positions across the company, including in corporate finance, business development, investor relations, and capital markets.

Most recently Mr. Chang served as Deputy Chief Investment Officer for both PFSI and PMT. Prior to joining Pennymac, Mr. Chang served in the Mergers & Acquisitions Group at Credit Suisse for over a decade, where he advised boards of directors and management teams on more than $100 billion of public and private transactions across a range of industries. He earned a B.A. in Political Economy from Williams College.