NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”)
today announced that it has added senior hires across its investment
groups and within its corporate infrastructure, as profiled below. Kevin
Keyes, Annaly’s Chairman, Chief Executive Officer and President,
commented: “The addition of these seasoned professionals amplifies the
reach of our four investment groups and broadens Annaly’s risk,
strategy, IT and governance expertise. Each of these individuals bring
unique experience which strengthen their respective groups, and further
solidifies Annaly as an industry leader. Our ongoing investment in our
talent, along with our unique and expansive employee stock ownership
guidelines, continue to be essential elements of our success.”
Additions to Investment Groups
Commercial Real Estate
Timothy (Tim) Gallagher has joined Annaly as Head of the
Commercial Real Estate Group. Tim has over 20 years of commercial real
estate lending and capital markets experience at leading real estate
finance and investment firms. Prior to joining Annaly, Tim spent time in
senior roles at Prima Capital, Morgan Stanley and Goldman Sachs. Tim is
a member of the Executive Committee of the Board of Governors for the
Commercial Real Estate Finance Council (“CREFC”) and previously served
as the Chairman of CREFC’s Board and a member of the Advisory Board of
the Center for Real Estate at the Fisher College of Business at The Ohio
State University.
David Sotolov has joined Annaly as a Managing Director,
Commercial Real Estate Group. Prior to joining Annaly, David was an
Executive Vice President at iStar, Inc. and head of iStar’s West Coast
Investments. Prior to that, David worked as a Senior Vice President,
Loan Originator at Fremont Investment & Loan and started his real estate
career as an Associate at Southern Pacific Bank. David has almost 20
years of experience in commercial real estate loan origination.
Nishant Nadella has joined Annaly as a Director, Commercial Real
Estate Group. Prior to joining Annaly, Nishant was a Senior Vice
President and Partner at H/2 Capital Partners, where he was responsible
for trading and risk management of a multibillion dollar portfolio of
commercial mortgage backed securities (“CMBS”). Prior to H/2, Nishant
held various CMBS related trading positions at Citigroup. In his time at
Citigroup, Nishant was instrumental in starting both the Agency CMBS and
Build America Bond trading businesses.
Agency and Residential Credit
Jay DeLong has joined Annaly as a Director, Agency and
Residential Credit Groups. Jay joins Annaly from Sovarnum Capital LP
(“Sovarnum”), where he was a Portfolio Manager and Head of Research.
Prior to Sovarnum, Jay held the position of Head of Securitized Products
Research at PointState Capital LP and Duquesne Capital Management LLC
with previous experience at Lehman Brothers, Inc. as a mortgage
strategist and quantitative researcher.
Middle Market Lending
Mark McNally has joined Annaly as a Director, Middle Market
Lending Group. Mark has over 20 years of middle market lending
experience. Mark joins Annaly from Bank of Ireland’s Leveraged
Acquisition Finance Group, where he was a Director focused on
underwriting transactions and participated in the Bank of Ireland’s
selective Future Leaders program.
Additions to Corporate Infrastructure
Tanya Rakpraja has joined Annaly as a Managing Director,
Government Relations and Social Responsibility Group. Prior to joining
Annaly, Tanya was a Senior Director of Strategic Lending Initiatives at
Capital Impact Partners (“CIP”), the Community Development Financial
Institution with which Annaly has a social impact joint venture. Prior
to CIP, Tanya oversaw Mortgage Operations and Trading for the Federal
Reserve’s Large Scale Asset Purchase Program.
Danielle Cooper has joined Annaly as a Director, Corporate
Development and Strategy Group. Danielle joins Annaly from Bank of
America Merrill Lynch, where she was a Vice President in the Mergers and
Acquisitions Structured Solutions Group and focused on advising clients
on a broad range of complex financing and advisory solutions. Earlier
this year, Danielle was named to Forbes’ 30 Under 30 Finance
professionals list.
Christian Greco has joined Annaly as a Director, Legal and
Compliance Group, supporting the Agency and Residential Credit Groups.
Prior to joining Annaly, Christian was an Associate General Counsel at
Goldman Sachs & Co. LLC. Prior to Goldman, Christian held the position
of Assistant General Counsel in the Securitized Products Group at
JPMorgan Chase & Co., with previous experience at Sidley Austin LLP.
Christian has over 16 years of experience in the securitized products
and structured finance industry.
Suet Fung Lau has joined Annaly as a Director, Information
Technology Group. Suet joins Annaly from Sovarnum and previously held
senior positions at PointState Capital LP, Duquesne Capital Management
and Lehman Brothers, Inc. Suet brings over 20 years of experience in
design and development of models, pricing and analytics tools, risk
management, quantitative trading strategies and trading systems for
fixed income instruments.
Gregory (Greg) Insinga has joined Annaly as a Director, Treasury
Group. Prior to joining Annaly, Greg worked as a risk management and
reporting compliance consultant assisting both Deutsche Bank and Goldman
Sachs. Prior to consulting, Greg was a Vice President in Barclays
Capital Inc.’s Securitized Products Middle Office Group, where he
oversaw the group’s daily treasury, credit, repo and derivative trading
operations. Greg also has additional previous mortgage related
experience from his time at Morgan Stanley.
Annaly’s Employee Stock Ownership Guidelines
Each of the professionals listed above are subject to the Company’s
broad-based employee stock ownership guidelines, which were expanded to
cover over 40% of Annaly’s employees in 2016. Pursuant to these
guidelines, and as a reflection of our commitment to aligning the
interests of our employees and our shareholders, Director-level and
above employees are asked to purchase predetermined amounts of Annaly
shares in the open market based on certain criteria including seniority,
compensation level and role. In July 2017, Annaly’s Chairman, Chief
Executive Officer and President Kevin Keyes voluntarily increased his
stock ownership commitment by 50% to an aggregate of $15 million. 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 pursuant to the employee
stock ownership guidelines. As of June 30, 2018, 100% of employees
subject to the Company’s expanded stock ownership guidelines either met,
or within the applicable period are expected to meet, such guidelines.
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
(the “Manager”). Each of the individuals named in this release is
employed by the Manager or a subsidiary of Annaly and provides services
to Annaly pursuant to the management agreement between Annaly and the
Manager. 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; 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; our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended; and
any potential business disruption following the acquisition of MTGE
Investment Corp., which we completed on September 7, 2018. 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: https://www.businesswire.com/news/home/20180911005758/en/
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.