Kevin Riordan Joins Annaly Capital Management, Inc.

NEW YORK--(BUSINESS WIRE)--

Annaly Capital Management, Inc. (NYSE: NLY) today announced that Kevin Riordan, formerly Commercial Mortgage Securities Group Managing Director at TIAA-CREF, has joined the company. Mr Riordan will focus on exploring commercial mortgage-backed securities and other commercial real estate opportunities as part of FIDAC, Annaly's wholly-owned registered investment advisor.

Michael A.J. Farrell, Chairman, CEO and President of Annaly commented on the new position. "Kevin Riordan is an excellent addition to our investment and research team. The depth and breadth of his experience in commercial mortgages will complement our current areas of expertise and will allow us to expand our FIDAC business."

In his 25 years of experience, Mr. Riordan held various positions in the financing, investing and securitization of commercial real estate. At TIAA-CREF, he was responsible for the oversight of their $22 billion commercial real estate securities portfolio which included CMBS and CDO securities, REIT debt, REIT common and preferred stock, and the origination of small balance commercial mortgage loans. Mr. Riordan is a member of the Commercial Mortgage Securities Association and currently serves as chair of the Government Relations Committee. Mr. Riordan is a CPA and received a BA in accounting from Rutgers-Newark College of Arts and Sciences and an MBA in finance from Seton Hall University.

"I am excited to be joining FIDAC and Annaly," said Mr. Riordan, "Mike Farrell and his team have shown a strong commitment to growing the company into an asset management platform with different revenue streams. I look forward to helping the company extend its reach and take advantage of opportunities in the commercial mortgage securities and loan space."

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 is a Maryland corporation that has elected to be taxed as a real estate investment trust ("REIT").

Source: Annaly Capital Management, Inc.