Effective Jan. 1, 2015, Jay Sherwood will be promoted to president of NMI Holdings Inc. and its subsidiary company National Mortgage Insurance Corp. (National MI), and Glenn Farrell will be named the new chief financial officer (CFO).
Sherwood has over 20 years of experience in finance, securities and investments. A co-founder of National MI, he has been executive vice president and CFO since the company's inception.
In his new role as president, Sherwood will be responsible for overseeing the company's sales, insurance operations and information technology functions.
New CFO Glenn Farrell joins National MI after his nearly 35-year tenure at accounting and consulting firm KPMG LLP. Farrell previously served in several leadership positions, including senior advisor to a wide range of global and U.S.-based clients, from start-ups to Fortune 1000 companies.
The current president, Bradley Shuster, will remain CEO of National MI and chairman of the board of NMI Holdings.