05:06 PM EDT, 10/03/2024 (MT Newswires) -- PennyMac Financial Services ( PFSI ) said Thursday that William Chang is stepping down as senior managing director and chief capital markets officer to "pursue other interests in the mortgage banking industry."

Chang is also stepping down as senior managing director and chief investment officer of PennyMac Mortgage Investment Trust ( PMT ) .

Mark Elbaum was appointed chief capital markets officer for PFSI and CIO for PMT.

Pennymac hired Elbaum in April 2023. He worked previously at Homepoint Financial, Bank of America (BAC) and Countrywide.

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