Sagent names Kenneth Posner chief financial officer

Sagent announced Tuesday that Kenneth Posner has joined the company as chief financial officer, where he will oversee financial operations and strategy.

Posner brings more than three decades of experience in mortgage banking and financial services. Most recently, he led strategy and investor relations at Mr. Cooper Group, helping guide the company’s growth into the nation’s largest mortgage servicer before its acquisition by Rocket Companies.

Before joining Mr. Cooper, Posner co-founded Capital Bank Financial Corp., which acquired and recapitalized banks in the wake of the 2008 financial crisis. He also spent years as a senior research analyst at Morgan Stanley, covering mortgage, financial services and fintech companies.

Posner succeeds former CFO Jaime Gow, another former Mr. Cooper executive. According to Gow’s LinkedIn account, he has joined the Texas Stock Exchange as its first CFO, a move the exchange announced May 18.

Sagent chairman and CEO Chris Marshall said Posner’s combination of market expertise and operational experience will support the company’s next phase of growth.

“Ken’s ability to connect market insight with execution is exceptional, as is his discipline in driving long-term value,” Marshall said in a statement. “His experience across banking, capital markets, and servicing will help Sagent continue to grow with focus and strength.”

The appointment comes as Warburg Pincus-backed Sagent continues scaling Dara, its mortgage servicing platform designed to modernize servicing operations through cloud-based and artificial intelligence technologies.

Sagent President Sridhar Sharma said Posner’s financial and strategic experience will be important as the company expands the platform’s reach across the mortgage industry.

“Ken’s financial and strategic insights will be critically important as we scale Dara, our game-changing mortgage servicing system, into the industry’s leading platform,” Sharma said.

Posner said he was attracted to Sagent’s focus on innovation in mortgage technology.

“I’m thrilled to be joining a team with deep expertise in mortgage technology and a company [that] is bringing radical new capabilities to the industry,” he said.

This article was written by Sarah Wolak and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.