FinTech Sargent Hired Jaime Gow, former senior executive Mr. Cooper and first horizon bank, serves as the new chief financial officer. The hiring coincides with the departure of Uday Devalla, the company’s chief technology officer.
Warburg PincusA supportive Sargent highlighted a high service background as the reason for hiring him. That’s exactly the area of the mortgage industry the company hopes to target with Dara, its software platform launched in February.
Gow will oversee financial operations, lead strategic planning and transactions with clients, and secure long-term investments in Sagent’s platforms, including Dara, the company said.
Sagent CEO Geno Paluso, a retired U.S. Navy captain who served British Aerospace Systems Prior to joining the company in February, Gow led various lending businesses including Shinsei Bank, Regions Bank and industry leaders such as Mr. Cooper.
Paluso added that Gow also “understands every detail it takes for a mortgage servicer to win, and he will make Sagent a stronger strategic partner than ever before for our customers and prospects.”
Gow joins Sagent after serving as executive vice president and strategic advisor to Mr. Cooper, who has strong ties to Sagent as evidenced by a multi-year agreement signed in February 2022. The intellectual property rights platform was transferred to Sagent and it acquired a minority stake in the fintech company.
Chris Marshall is another senior executive to move between the two companies this year. Mr. Cooper, the former vice chairman and president, became Sagent’s executive chairman in January.
Mr. Cooper is also the first customer of the Dara platform, with full implementation expected in early 2025.
“Sagent’s new Dara platform can reduce servicer operating costs across all mortgage servicing areas such as boarding, cash handling, escrow, call center, loss mitigation and claims,” Gow said in a statement. “An important part of my job is helping Our customers and prospects find and maximize efficiencies in their own operations.”
In another top executive change at Sagent, chief technology officer Uday Devalla left the company four months after launching Dara. He said in a social media post that July 12 would be his last day at the company.
“I have had an incredible experience working at Sagent over the past four-plus years, leading technology and production teams to drive much-needed innovation in the $14 trillion mortgage servicing industry,” Devalla wrote.
A Sagent spokesperson said house line Devara left “to pursue new opportunities.”
“He has been an integral teammate in helping us develop a multi-year execution strategy to modernize the industry. Key to this execution has been assembling a world-class mortgage servicing fintech team, including senior leaders, to build our Dara’s vision and innovating today’s platform for customers. This global team is responsible for day-to-day operations and we are reviewing candidates to replace Uday,” the spokesperson wrote.
