The California-based investment advisor has promoted from within.

The Palisades Group has promoted two members of staff; Justin Bodiya who will now be chief operating officer, and Sally Kawana who serve as chief financial officer. Bodiya was previously head of operations and director in the portfolio management group, while Kawana was head of capital markets and transaction management. 

Bodiya has more than 10 years of experience in enterprise architecture, technology and asset management. Prior to Palisades, Bodiya was vice president of asset management at Arch Bay Capital, where he managed a $500 million non-performing whole loan portfolio. Before that, he worked at private equity firm and asset manager American Capital, focusing on investment performance transparency and management solutions.

“We believe expanding his role will allow Palisades to continue building exceptional resources for institutional investment clients seeking access to the residential credit markets,” said Stephen Kirch, co-founder and chief executive.

Kawana previously held roles at Bank of America as senior vice president in the representations and warranties group, as well as SVP in the secondary marketing group serving as the group’s business finance partner.

She was also managing director in Bear Stearns’ mortgage and asset-backed securities group. While at Bear Stearns, she underwrote, structured and placed over $25 billion of mortgage and asset-backed securities collateralized by residential mortgage loans. She additionally worked in KPMG’s financial services audit and structured finance consulting practices. 

“We are excited to have her transition transaction management responsibilities to her capable team, while continuing to manage client and investment vehicle financing duties and assuming leadership for Palisades’ corporate finance initiatives,” added Kirch.

Palisades currently manages mortgage, real estate and fixed income assets of more than $3.4 billion in notional balance, with $2.4 billion of fee earnings assets under advisement.

This publication is awaiting confirmation as to whether the pair will be replacing anyone in their new roles, and will report in due course.