---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-030616"
form_type: "8-K"
ticker: "PFSI"
cik: "0001745916"
company_name: "PennyMac Financial Services, Inc."
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T07:17:23.687936+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# PennyMac announces CIO Vandad Fartaj departure; William Chang named Chief Capital Markets Officer

## Summary
- Vandad Fartaj ceased as Senior Managing Director and Chief Investment Officer of both PFSI and PMT on March 3, 2023.
- William Chang appointed Senior Managing Director, Chief Capital Markets Officer (PFSI) and Chief Investment Officer (PMT).
- Chang joined Pennymac over 10 years ago, most recently as Deputy CIO; prior Credit Suisse M&A for over a decade.
- Fartaj had been with Pennymac for nearly 15 years, helping pioneer lender credit risk transfer and MSR securitizations.

## SEC filing metadata
- accession: 0001104659-23-030616
- form_type: 8-K
- ticker: PFSI
- cik: 0001745916
- company_name: PennyMac Financial Services, Inc.
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1745916/000110465923030616/0001104659-23-030616-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1745916/000110465923030616/tm239004d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-030616
- JSON: https://secwatch.observer/filing/0001104659-23-030616.json
- Plain text: https://secwatch.observer/filing/0001104659-23-030616.txt

## Key facts
- Executive change
  William Chang was appointed as Senior Managing Director and Chief Capital Markets Officer at PennyMac Financial Services, Inc..
  - Action: appointed
  - Role: Senior Managing Director and Chief Capital Markets Officer
  source text: On March 9, 2023, the Company announced that William Chang has been appointed as the Company’s Senior Managing Director and Chief Capital Markets Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1745916/000110465923030616/0001104659-23-030616-index.htm
- Executive change
  Vandad Fartaj departed as Senior Managing Director and Chief Investment Officer at PennyMac Financial Services, Inc..
  - Action: ceased serving
  - Role: Senior Managing Director and Chief Investment Officer
  source text: On March 3, 2023, Vandad Fartaj ceased serving as PennyMac Financial Services, Inc.’s (the “Company”) Senior Managing Director and Chief Investment Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1745916/000110465923030616/0001104659-23-030616-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.