Mortgage Guaranty Insurance Corporation, the principal subsidiary of MGIC Investment Corporation (MTG), announced the hiring of Stephen Mackey. Mackey will serve as MGIC’s executive vice president – chief risk officer, replacing the retiring Lawrence Pierzchalski.

Mackey bring more than 30 years of experience to MGIC. He joins MGIC from JPMorgan Chase (JPM), where he most recently served as managing director, firm-wide market risk.

Earlier in his career, Mackey held various leadership positions at Fannie Mae, where he spent 13 years. Mackey also brings managerial experience from the Office of Federal Housing Enterprise Oversight. Mackey also spent time with the Board of Governors of the Federal Reserve System.

"Steve's combination of Midwestern roots and skills he has acquired from having worked for large complex financial organizations makes him uniquely suited to lead our risk management team," said Patrick Sinks, CEO of MTG and MGIC.

"Our industry is in great shape to expand our role in the market,” Sinks added. “Steve's experiences, in both the public and private sector, will provide us invaluable insight into how we can expand our role while maintaining a robust risk management culture."

Mackey will join MGIC late June.