Sagent named Sridhar Sharma as its new CEO on Monday, just nine months after appointing Chris Marshall to the role.

Marshall, who also served as chairman of the board of directors for the Dallas-based mortgage servicing technology provider, will be succeeded as chair by Fannie Mae veteran Andrew Bon Salle.

While the reasons for the leadership change are not yet known, Sagent stated in a press release that the transition follows the development and launch of Dara, the company’s AI-native platform, under Marshall’s direction.

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“Under Marshall’s leadership, Sagent transformed its vision for mortgage servicing modernization into Dara,” the company said. “Chris’s leadership and vision are appreciated.”

A Sagent spokesperson provided Scotsman Guide with this statement: “The board appreciates Chris’ leadership and vision over the past few years leading Sagent. Sridhar’s promotion to the CEO role was a planned transition. Chris remains close to the company and advocates for its success.”

Marshall took the reins in January from Gene Paluso, who remained on Sagent’s board of directors and served as vice chairman until April, according to his LinkedIn profile. Paluso had become CEO in February 2022.

Sharma, who has served as Sagent’s president since February, said in the release that “mortgage servicing is entering an era where processes evolve in real time and human capital is focused only on the most complex issues and in delivering amazing customer experience.”

Commented Bon Salle: “The company is at an important point in its evolution. I’m excited to work with Sridhar and the team as we continue to transform mortgage servicing with AI.”

Before taking the role of president, Sharma had spent nearly 11 years in executive technical roles with mortgage servicer Mr. Cooper Group. Bon Salle spent 28 years at Fannie Mae before leaving in December 2020.