PennyMac Financial Services Inc. announced Wednesday two promotions within its executive ranks, effective Jan. 1.

Andrew Chang was promoted to chief operating officer of the Westlake Village mortgage lender. He had previously been chief financial officer.

Daniel Perotti will become the new chief financial officer. Previously he had been deputy chief financial officer.

In his new role, Chang will oversee the company’s finance division as well as responsibilities managing the marketing, human resources, information technology and corporate administration and regulatory relations. He will continue to report to David Spector, chief executive of PennyMac.

Shares of PennyMac Financial (PFSI) closed up Friday down 60 cents, or slightly less than 1 percent, to $64.24 on the New York Stock Exchange.