Pagaya Technologies (PGY) Appoints Sanjiv Das as President

Pagaya Technologies Ltd. (NASDAQ: PGY) (the “Company” or “Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced the appointment of Sanjiv Das as its new President. In this role, Das will oversee the strategy and growth of the Company’s commercial business – including its single-family rental business and Darwin subsidiary – as it continues to enhance its tech-enabled product offering and expand its new and existing lending partnerships.

Most recently, Das served as CEO of Caliber Home Loans, a NewRez-owned residential mortgage lending company. There, Das leveraged his deep financial expertise, consumer experience, and thought leadership to deliver record year-over-year growth in the non‐banking sector. Das has also held positions as CEO, President and Chairman of the Board for Citi’s Mortgage Division, and as Head of all International Businesses at First Data, a KKR-owned company. He has also held senior roles at Morgan Stanley, American Express and Bank of America.

Das, who will begin his new role on October 16, replaces Ashok Vaswani, who has served as Pagaya’s President since June 2022. 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. Vaswani will continue to serve as an advisor to Pagaya to help ensure a smooth and successful transition for Das.

“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,” said Gal Krubiner, Pagaya’s Co-founder and CEO. “We also want to sincerely express our gratitude and appreciation to Ashok for his contributions to Pagaya. Ashok has had a meaningful impact on our Company and we wish him success as he embarks on a new professional venture.”

“I am honored and privileged to join Pagaya at such an exciting time as they grow their lending network, and to support the team in their vision to enable greater lending opportunities across the banking ecosystem, including being a strong catalyst for financial inclusion,” said Das. “I look forward to helping them continue to deliver strong, strategic growth and to create value for Pagaya's investors, lending partners and their customers through their differentiated product offerings.”

“It has been a pleasure to serve as Pagaya's president,” said Vaswani. “The Company is led by a strong management team and is truly at the forefront of technology innovation. I know they will continue to accomplish great things together and I wish the entire team much success in the future.”

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