Irvine, California-based Impac Mortgage Holdings Inc has appointed two new members to its board of directors.
First, Obi Nwokorie was appointed to the board with the position of Independent Director. Before being appointed to the board he served as EVP of Alternative Credit Products and also as Chief Investment Officer at Impac. Before coming to Impac, he served as Managing Director of Mortgage Trading at Seer Capital Management, as a Partner for African Real Estate Investment Advisors, as Director of Financial Engineering at Credit Suisse, and as a Director at UBS Securities where he was in charge of pricing and hedging of bulk/mini-bulk sub-prime mortgage loan packages.
Joseph Piscina has also been appointed to the board as an Independent Director. He concurrently serves as the COO and Partner of the Versant Group, whose funds focus on building and acquiring investment management businesses that are scalable through market cycles. Piscina previously held positions with Ellington Management Company, Monday Capital Partners, Five Mile Capital Partners, and Natixis. In addition, he has also worked for Paine Webber, Kidder Peabody and Drexel Burnham during his career.
“These valuable additions to the board replace two former, long-standing board members who, in 2020, either did not stand for election or resigned from the board,” said George A. Mangiaracina, the Chairman and CEO of Impac Mortgage. “As mentioned previously about Nwokorie, he is a seasoned capital markets expert and his leadership shows the company’s continued and growing commitment to the design, origination, and distribution of alternative credit products. Piscina is a decades long structured finance professional with varied expertise in asset management, commercial and residential real estate, corporate finance, M&A activity and a wide range of asset backed securitization activities.”