Radian Gets New Prez, Cites Personnel Moves

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., Philadelphia, has announced the resignation of its president, David Applegate, and several other changes at the top of the organization. Mr. Applegate will remain with Radian as a consultant for the foreseeable future. Stepping in as president is Teresa Bryce, who had been Radian Group's executive vice president, general counsel, corporate secretary, and chief risk officer. Paul Bognanno has been promoted from vice chairman of Radian Guaranty to chairman. Jeff Cashmer, senior vice president of mortgage insurance sales, is the new executive vice president and chief operating officer of Radian Guaranty, and Ted Hoffman, currently senior vice president and assistant general counsel will become Radian Group's general counsel and corporate secretary. Ms. Bryce and Mr. Hoffman report to S.A. Ibrahim, Radian Group's president and chief executive, while Mr. Bognanno and Mr. Cashmer report to Ms. Bryce. Ms. Bryce's priorities will include returning the mortgage insurance subsidiary to the AA level, and she has "extensive experience working with the GSEs, which will continue to be one of our top priorities," Mr. Ibrahim said.