MGIC hires successor to general counsel
Paula Maggio joined Milwaukee, Wisconsin-based MGIC Investment Corporation (MTG) this week as executive vice president for law. She is due to become the company’s next general counsel and corporate secretary upon the retirement of Jeffrey Lane, who currently holds those positions. Maggio will also hold the same offices with MTG’s principal subsidiary, Mortgage Guaranty Insurance Corporation (MGIC).
Lane told the company in January 2017 that he planned to retire after a successor takes office and there is an appropriate transition period. He has been the company’s general counsel and secretary since 1996.
Maggio most recently served as executive vice president, general counsel and secretary for Retail Properties of America. Her experience includes various leadership positions with Strategic Hotels & Resorts, where she advised the CEO and board of directors, consulting on business objectives, strategy, corporate affairs, transactions and personnel matters.
MGIC is a private mortgage insurer that serves lenders in the US and Puerto Rico. As of June 30, 2018, MGIC had $200.7 billion of primary insurance in effect covering roughly 1 million mortgages.
‘Paula’s extensive knowledge of complex governance, real estate and capital issues is matched by her demonstrated ability to deliver on strategic business imperatives,’ says MTG and MGIC CEO Patrick Sinks in a statement. ‘Our company has been served incredibly well under the guidance of Jeff Lane, and we will always be grateful to him for his outstanding contributions.’