William Chang is stepping down from his roles as chief capital markets officer at PennyMac Financial Services and chief investment officer for PennyMac Mortgage Investment Trust, the company announced Thursday. Industry veteran Mark Elbaum will succeed him. 

Chang, who joined the company in 2012, will “pursue other interests in the mortgage banking industry” after leaving on Oct. 11. Before joining Pennymac, Chang spent 13 years at Credit Suisse, holding the position of director for mergers and acquisitions. 

Elbaum, hired by Pennymac in April 2023, previously held leadership roles at Homepoint details ⇒