NEW YORK--(BUSINESS WIRE)--Jan. 18, 2006--Annaly Mortgage
Management, Inc.
(NYSE: NLY) today announced that Ronald D. Kazel and
Jeremy Diamond have been named Managing Directors. They will oversee
the sales, marketing and business development efforts of the Company,
as well as the administration of the portfolio management team. Mr.
Kazel and Mr. Diamond will report to Vice Chairman and Chief
Investment Officer Wellington Denahan-Norris, who will be taking on
the additional role of Chief Operating Officer.
Michael A.J. Farrell, Chairman, CEO and President of Annaly,
commented on the new positions. "The past few years have been a period
of exciting growth for Annaly and FIDAC, and Ron and Jay have been
critical in driving and managing this growth. These management changes
formalize the roles they currently play in our Company, as well as
establish the organizational platform for the future."
Mr. Kazel joined the Company in December of 2001 and was Executive
Vice President in charge of business development. Prior to joining the
Company, Mr. Kazel was a Senior Vice President in Friedman Billings
Ramsey's
financial services investment banking group. During his
tenure there, he was responsible for structuring both the private and
public equity offerings for Annaly in 1997. From 1991 to 1996, Mr.
Kazel served as a Vice President at Sandler O'Neill & Partners where
he was involved in asset/liability management and fixed-income
analysis and sales. Mr. Kazel has a BS in Finance and Management from
New York University.
Mr. Diamond joined the Company in 2002 as Executive Vice President
and head of research. From 1990 to 2002 he was President of Grant's
Financial Publishing, a financial research company, and Publisher of
Grant's Interest Rate Observer. In addition to his responsibilities as
principal business executive, Mr. Diamond conducted security analysis
and financial market research. Mr. Diamond began his career as an
analyst in the investment banking group at Lehman Brothers. Mr.
Diamond has a Bachelors Degree from Princeton University and a Masters
Degree in Business Administration from the Anderson School at UCLA.
Annaly manages assets on behalf of institutional and individual
investors worldwide through Annaly and through the funds managed by
its wholly-owned registered investment advisor, FIDAC. The Company's
principal business objective is to generate net income for
distribution to investors from the spread between the interest income
on its mortgage-backed securities and the cost of borrowing to finance
their acquisition and from dividends Annaly receives from FIDAC, which
earns investment advisory fee income. The Company, a Maryland
Corporation, has elected to be taxed as a real estate investment trust
("REIT").
CONTACT: Annaly Mortgage Management, Inc.
Investor Relations, 1-888-8Annaly
www.annaly.com
SOURCE: Annaly Mortgage Management, Inc.