AI and data-led fintech company Pagaya Technologies named Sanjiv Das as president. Das, a former CEO of Caliber Home Loans, will begin his new role on Oct. 16.
His responsibilities include overseeing the strategy and growth of Pagaya’s commercial business – including its single-family rental business and its subsidiary Darwin Homes – as it continues to enhance its tech-enabled product offering and expand its new and existing lending partnerships, the firm said in a news release.
“We’re excited to welcome Sanjiv as President of Pagaya. His global perspective and extensive entrepreneurial experience in the financial sector and capital markets, as well as his proven track record of building and growing global businesses at scale, uniquely positions him to guide Pagaya’s lending network and innovative product offerings in this next stage of growth,” Gal Krubiner, Pagaya’s co-founder and CEO, said.
Das’ career also includes positions as CEO, president and chairman of the board of directors for Citigroup‘s mortgage division. He has also held senior roles at Morgan Stanley, American Express and Bank of America.
The executive replaces Ashok Vaswani, who served as Pagaya’s president since June 2022. Vaswani will serve as an advisor to Pagaya for a smooth transition for Das.
“Under Vaswani’s leadership, Pagaya has successfully onboarded new, large partners and expanded its AI-driven lending network, enabling access to more financial opportunities for their customers,” the firm said.
Pagaya, founded in 2016, provides comprehensive consumer credit and residential real estate solutions for its partners, their customers and investors, according to the firm’s website. The fintech has more than 600 employees across two offices in New York and Tel Aviv, Israel.
The firm has been in the real estate business since 2020. Pagaya also offers personal loans, auto loans, credit cards and point-of-sale (POS) financing.
In January 2023, Pagaya acquired proptech Darwin Homes to capitalize on the rental market.
Targeting the single-family rental market, Pagaya shared plans to combine its AI tech and data network with Darwin’s software, operations and mobile app to create a “tech-forward” real estate platform that benefits residents, investors and service operators, the firm said at the time of acquisition.