NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”)
today announced increased management stock ownership commitments as well
as senior hires across its investment groups and within its corporate
infrastructure.
Increased Stock Ownership Commitment by CEO and Senior Management
Kevin Keyes, the Company’s Chief Executive Officer and President, has
volunteered an increased commitment to own an aggregate $15 million of
common stock of the Company within the next three years. Mr. Keyes’
current stock ownership position has been acquired entirely through
purchases on the open market and he has pledged to meet his enhanced $15
million commitment solely through additional open market purchases
within the next three years. This $15 million commitment exceeds Mr.
Keyes’ $10 million stock ownership requirement, which was implemented
pursuant to the expanded stock ownership guidelines previously announced
in 2016.
In addition to Mr. Keyes, other members of senior management, including
Chief Investment Officer David Finkelstein, Chief Credit Officer Timothy
Coffey, Chief Financial Officer Glenn Votek and Chief Legal Officer
Anthony Green, have also committed to voluntarily increase their stock
ownership positions beyond the amounts required under the 2016 stock
ownership guidelines. Like Mr. Keyes, these officers have agreed to
achieve their increased stock ownership commitments solely through open
market purchases of the Company’s common stock within the next three
years. These increased stock ownership commitments by management,
together with the 2016 stock ownership guidelines, which apply to more
than 40% of employees, serve to enhance the alignment of interests
between the Company’s officers and employees and Annaly’s other
stockholders. As of June 30, 2017, all individuals subject to the
Company’s stock ownership guidelines either met or, within the
applicable period, are expected to meet such guidelines.
Additions to Management Team and Investment Groups
Annaly today announced the additions to the management and investment
groups profiled below. Mr. Keyes commented: “We view these experienced
professionals as a continued sign of our ongoing commitment to expand
the breadth and depth of our diversified platform. These additions
further enable us to drive the growth and performance of each of our
four investment groups and continue to build our prominence as the most
competitive diversified capital manager in the industry. In this
challenging investment environment our people, coupled with the strength
of our liquidity and investment optionality, are unique strategic
advantages that have contributed to our leadership position in the
industry.”
Souren Ouzounian has joined Annaly as Deputy Chief Financial Officer and
Treasurer and a Managing Director, Finance Group. Souren joins the
Company from Bank of America Merrill Lynch and Merrill Lynch & Co.,
where he was the Head of Americas Corporate Finance. Souren has a Master
of Business Administration from the Sloan School of Management at MIT
and a Bachelor of Arts from Columbia College.
V.S. Srinivasan (Srini) has joined Annaly as a Managing Director, Agency
and Residential Credit Group. Srini joins the Company from KLS
Diversified Asset Management (“KLS”), where he was a Portfolio Manager
of Agency MBS and Derivatives. Prior to KLS, Srini held the position of
Managing Director and Head of Structured Products Modeling at Barclays
PLC with previous experience at J.P. Morgan/Bear Stearns and Co. as a
mortgage/prepayment strategist. Srini has a Master of Science from
Rutgers University and a Bachelor of Technology from the Indian
Institute of Technology.
Thomas (Tom) Hobbis has joined Annaly as a Managing Director,
Originations, Middle Market Lending Group. Tom joins the Company from
CIT Group, Inc., where he was a Managing Director in the Sponsor Finance
Group. Prior to CIT, Tom held similar positions at SunTrust Robinson
Humphrey, ING Capital and ABN AMRO. Tom has a Master of Business
Administration from Fordham University and a Bachelor of Arts from
Gettysburg College.
Donald (Don) Choe has joined Annaly as Chief Technology Officer and a
Managing Director, Information Technology Group. Don joins the Company
from ZAIS Group, LLC, where he was Chief Technology Officer and Head of
Analytics and a Managing Director. Don has also served in application
development and systems positions at Barclays Capital PLC, Lehman
Brothers, Inc., Merrill Lynch & Co., Morgan Stanley and Prudential
Securities. Don has a Bachelor of Science from the University of
Pennsylvania.
Jillian Detmer has joined Annaly as a Director, Middle Market Lending
Group. Jillian joins the Company from GoldenTree Asset Management, where
she was responsible for leading the Firm’s Consultant Relations effort
in addition to holding various other positions within the Business
Development group. Jillian has a Bachelor of Arts from Lafayette College.
James (Jim) D’Amore has joined Annaly as a Director, Head of Tax,
Finance Group. Jim joins the Company from PricewaterhouseCoopers, where
he was a Manager in the Metro Real Estate – Tax department. Jim has a
Master of Business Administration, a Master of Science and a Bachelor of
Science each from Fordham University.
About Annaly
Annaly is a leading diversified capital manager that invests in and
finances residential and commercial assets. Annaly’s principal business
objective is to generate net income for distribution to its stockholders
and to preserve capital through the prudent selection of investments and
continued management of its portfolio. Annaly has elected to be taxed as
a real estate investment trust, or REIT, for federal income tax
purposes. Annaly is externally managed by Annaly Management Company LLC.
Each of the individuals named in this release is employed by Annaly
Management Company LLC and provides services to Annaly pursuant to the
management agreement between Annaly and Annaly Management Company LLC.
Additional information is available at www.annaly.com.
Forward-Looking Statements
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements which are
based on various assumptions (some of which are beyond our control) and
may be identified by reference to a future period or periods or by the
use of forward-looking terminology, such as "may," "will," "believe,"
"expect," "anticipate," "continue," or similar terms or variations on
those terms or the negative of those terms. Actual results could differ
materially from those set forth in forward-looking statements due to a
variety of factors, including, but not limited to, changes in interest
rates; changes in the yield curve; changes in prepayment rates; the
availability of mortgage-backed securities and other securities for
purchase; the availability of financing and, if available, the terms of
any financings; changes in the market value of our assets; changes in
business conditions and the general economy; our ability to grow our
commercial business; our ability to grow our residential mortgage credit
business; credit risks related to our investments in credit risk
transfer securities, residential mortgage-backed securities and related
residential mortgage credit assets, commercial real estate assets and
corporate debt; risks related to investments in mortgage servicing
rights and ownership of a servicer; our ability to consummate any
contemplated investment opportunities; changes in government regulations
affecting our business; our ability to maintain our qualification as a
REIT for U.S. federal income tax purposes; and our ability to maintain
our exemption from registration under the Investment Company Act of
1940, as amended. For a discussion of the risks and uncertainties which
could cause actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in our most recent Annual
Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.
We do not undertake, and specifically disclaim any obligation, to
publicly release the result of any revisions which may be made to any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements,
except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170710006045/en/
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.