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September 23, 2021
Broadmark Realty Capital announced the pending fall retirement of Joseph Schocken, one of the firm's two founders. Come November, he'll become honorary chairman emeritus of the company board. CEO Jeffrey Pyatt will assume Schocken's old position as board chair. Pyatt said in a statement, “Joe and I founded Broadmark 11 years ago with the vision of becoming a leader in providing capital to small and mid-sized builders, supporting the development of high-quality housing for families across the country.” Said Schocken, “It has been an honor to have served as chairman during these first two years of public ownership. I wish everyone much luck, success and look forward to the next great chapter at Broadmark.” The firm took its current, shorter name two years ago when it went public. Pyatt will cede his role as company president to a new hire, following a planned executive search.