Arch Capital Group has made series of strategic leadership changes to its mortgage insurance business, and named recent Global Mortgage Group CEO Andrew Rippert as chief innovation and strategic investment officer.
David Gansberg will succeed Rippert as CEO of the mortgage business, overseeing all of Arch’s mortgage insurance operations worldwide. Michael Schmeiser has been named CEO of Arch Mortgage Insurance Company (Arch MI).
In this newly created role, Rippert will be responsible for pursuing innovative business models and developing a pipeline of creative products, services and untapped markets to deliver future revenue streams across all business lines. He will continue to represent Arch in government and trade associations.
“At Arch, we have always considered innovation a key part of expanding our business and meeting our customers’ needs,” said Marc Grandisson, president and CEO of Arch Capital Group. “ What has been accomplished in the mortgage segment over the past few years, under Andrew’s leadership, has been amazing. By creating this new role, we’re tasking Andrew with developing the long-term future of the firm and determining how we will capitalise on the opportunities ahead of us.”
Grandisson added: “This move is only possible because of the deep talent pool that exists in the mortgage segment. David has been a key member of Arch’s leadership team since our founding in 2001 and has excelled in building and guiding Arch MI to its market leading position in the US His promotion ensures the continuity of our strategy and approach to the business and provides him with new challenges and opportunities globally.”
Gansberg joined Arch in 2001 and most recently served as president and CEO of Arch MI. He oversaw the growth of that company from a startup to a significant player in the mortgage insurance market in the US.
Schmeiser has almost 20 years of strategy experience - primarily in financial services - and most recently served as chief strategy officer of Arch’s Global Mortgage Group.
Arch Capital Group. Appointment, Andrew Rippert, David Gansberg, Michael Schmeiser, North America, Bermuda