BSI Financial Services (BSI Financial) recently announced three new appointments to its management team so that the company can prepare for growth in its core servicing and related business lines. John Lawrence assumes the position of EVP and Chief Servicing Officer, Akshay Singh is named Managing Director for Strategy and Corporate Development, and Michael Whitfield is named VP for Loan Administration.
John Lawrence is a 20-year veteran of the mortgage industry, BSI said. He joins BSI Financial after serving as SVP and portfolio manager for PIMCO, where he managed all aspects of loan trading operations, participated in capital development, and was responsible for operations that supported consumer, student and auto loan investments. Lawrence was also a managing director for PennyMac, where he developed a post-closing and servicing platform to host 20,000 loans and was responsible for PennyMac’s capacity planning and budgeting. He has also held key positions at Wells Fargo, IndyMac Bank, and Fremont Investment & Loan.
Akshay Singh brings 15 years of experience in private equity, investment banking, and management consulting to his new BSI position. The company says that prior to joining BSI Financial he was a Principal of North Cove Partners, a private equity group that was spun out of Merrill Lynch Private Equity, where he managed private equity investments totaling more than $1 billion in value. He has also served on Boards of various public and private companies, including as a Board Director and member of the Audit and Compensation committees for Rexel and Euromedic, and as Board Director of Veninfotel.
Michael Whitfield previously served as VP of Loan Administration for Rushmore Loan Management Services, leading key servicing functions that included payment processing, audit, tax and insurance tracking, loss drafts, and loan boarding. He has also held titles of VP, Servicer Compliance for 3Point Asset Management, Director of Loan Administration for PennyMac, and Assistant VP for Customer Service and Loan Administration for Fremont Investment & Loan.
“We are pleased to be able to attract the talent we see as critical to achieving our growth and performance objectives," said Gagan Sharma, President and CEO of BSI Financial. "These professionals solidify an already-strong management team and enable us to advance key initiatives that include ongoing process modernization, compliance readiness and business expansion.”