WAYNE, PA — Radian Group Inc. (NYSE: RDN) has announced a key leadership transition following the upcoming retirement of Derek Brummer, President of Mortgage Insurance, on July 3, 2025. After 23 years of exemplary service, Brummer will step away, leaving a significant legacy in shaping the company’s strategic direction and operational success.
Sumita Pandit, currently serving as the company’s Chief Financial Officer (CFO), will assume the expanded role of President and CFO upon Brummer’s retirement. This appointment marks a pivotal moment for Radian as it integrates leadership experience with a forward-looking strategy to drive its mortgage insurance business and long-term financial goals.
“Over the past 23 years at Radian, Derek has been an instrumental member of our leadership team contributing to the company’s strong strategic positioning for the future,” said Radian CEO Rick Thornberry. “We appreciate all that he has done at Radian, and most importantly, we wish him all the best in his well-deserved retirement.”
Brummer joined Radian in 2002 and played a central role in advancing the company’s risk management and operational framework. He was appointed Chief Risk Officer in 2013 and took on his current role in 2018, overseeing the mortgage insurance segment, a crucial growth driver for Radian. Reflecting on his tenure, Brummer stated, “I’ve been privileged to be part of Radian’s rich 50-year history, and I am proud of what we have accomplished together. As I retire, I know Radian is strategically well positioned today and for the future.”
Pandit’s new role is designed to leverage her extensive financial markets experience and expertise in investment banking and fintech. She joined Radian in March 2023 as Chief Growth Officer, developing the company’s innovation roadmap, and was appointed CFO two months later. Her previous leadership roles include serving as Chief Operating Officer of dLocal, a global fintech, and as Global Head of FinTech Investment Banking at J.P. Morgan.
“Sumita brings unique experience to the role including an exceptional blend of financial markets and investment banking expertise, as well as broad knowledge of Radian’s businesses,” added Thornberry. “She is optimally positioned to lead our experienced mortgage insurance team to continue to deliver our products and services to our customers and achieve our long-term strategic goals to drive value for our stockholders.”
Pandit’s leadership is expected to further Radian’s focus on innovation and growth while maintaining its market leadership in the mortgage insurance sector. With nearly five decades of expertise, Radian continues its mission of delivering value to its customers and shareholders through dynamic leadership and forward-thinking strategies.
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