RDN - Radian Group promotes Sumita Pandit to SVP CFO

2023-05-18 17:14:37 ET

• Radian Group ( NYSE: RDN ), a company that provides mortgage insurance and other real estate-related services, named Sumita Pandit senior executive vice president and chief financial officer, effective immediately, the company said Thursday.
• She succeeds J. Franklin Hall, who served as CFO until December 2022.
• Pandit joined Radian ( RDN ) in March 2023 as the company's first chief growth officer and worked with CEO Rick Thornberry and the company's executive leadership team to develop and execute long-term growth and innovation plans. As CFO, she'll retain those development duties while assuming responsibility for all of Radian's financial functions.
• Radian ( RDN ) stock gained 1.8% in Thursday after-hours trading.
• Before joining Radian ( RDN ), Pandit served more than two years as chief operating officer of dLocal. Prior to that role, she worked at J.P. Morgan in several managing director roles, including global head of FinTech Investment Banking.
• Earlier this month, BofA downgraded Radian to Underperform from Buy on execution risk to growth its homegenius segment.
• SA contributor Mike Zaccardi sees Radian as slightly undervalued.

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