Seamus Fearon has been named the new CEO of International Mortgage for the Global Mortgage Group by Arch Capital Group Ltd.
Beau Franklin, the outgoing CEO of Arch’s International Mortgage Group, will take on a new senior position within Arch MI’s parent firm, Arch Capital Group Ltd.
Gansberg praised Franklin for his considerable achievements over the last decade, which included pioneering capital relief transactions in Europe and supporting the expansion of Arch’s Australian business through the acquisition of Westpac Lenders Mortgage Insurance Limited.
Fearon began working with Arch in 2012. Fearon will oversee Arch’s Australian and European mortgage operations, as well as the Government Sponsored Enterprise (GSE) Credit Risk Transfer (CRT) and Services division, in his increased role.
Fearon, who formerly served as Arch’s Global Mortgage Group’s Executive Vice President of CRT and European Markets, has a successful track record of managing and growing international operations.
His leadership in the GSE CRT and European Significant Risk Transfer businesses has been critical to the group’s ambitions to grow and diversify.
Arch’s Global Mortgage Group CEO David Gansberg voiced confidence in Fearon’s ability to drive additional diversification of the company’s mortgage portfolio.
He observed that under Fearon’s leadership, the group’s underwriting profit from non-U.S. businesses increased significantly, from little over 10% in 2017 to almost 40% now.
Fearon’s appointment is consistent with Arch’s strategic goal of increasing its worldwide presence and cementing its position as a global leader in aggregating, managing, and syndicating mortgage credit risk.