Radian Group names new CEO

Radian Group, a Center City provider of private mortgage insurance and mortgage services, said Thursday that Richard G. Thornberry, 58, will succeed S.A. Ibrahim as chief executive on March 6.

Thornberry was chairman and chief executive of NexSpring Group, a St. Louis provider of mortgage industry advisory and technology services, which he cofounded.

Radian's board chose Thornberry after a national search because of his "leadership and experience in the mortgage finance industry," Herb Wender, Radian's non-executive chairman said in a news release.

Ibrahim, who became CEO of Radian in 2005, announced last May that he would retire at the end of this year.

Radian employs 537 in Center City.