NEW YORK--(BUSINESS WIRE)--
The Board of Directors (the “Board”) of Annaly Capital Management, Inc.
(NYSE: NLY)
(“Annaly” or the “Company”) today announced that it has appointed Glenn
A. Votek, 55, as Chief Financial Officer of the Company. Mr. Votek will
also serve as a member of Annaly’s Operating Committee. Mr. Votek was
previously the Company’s Chief Administrative Officer.
Following an impressive career, including serving as Chief Financial
Officer of the Company since its founding, Kathryn F. Fagan has decided
to retire. The Board thanks Ms. Fagan for her many years of service and
valuable contributions to the Company.
“I want to personally thank Kathryn for all she has done for the Company
over the past 16 years and I wish her all the best in her retirement”
said Wellington Denahan, Chairman and Chief Executive Officer of Annaly.
Mr. Votek has over 20 years of financial and operational experience with
particular expertise in risk management, capital raising, liability
management and regulatory oversight. Mr. Votek joined the Company in May
2013 from CIT Group where he was an Executive Vice President and
Treasurer since 1999 and President of Consumer Finance since 2012. At
CIT, Mr. Votek was responsible for all functional areas of CIT’s
treasury group, including capital markets, securitization,
asset/liability management, hedging, international treasury, cash
management, and banking and rating agency relations. He was also
actively involved in the investor marketing activities at CIT. Included
among his committee memberships were: Asset Liability Management
Committee, Financial Disclosure Committee, Pension Investments Committee
and the Employee Benefit Plans Committee. He also previously served as
Chairman of the Board of CIT Bank.
Mr. Votek joined CIT in November 1999 following its acquisition of
Newcourt Credit Group, at which time he was appointed Treasurer. Prior
to the acquisition, he was the Treasurer of Newcourt Credit Corp. and
AT&T Capital Corporation. Mr. Votek has also held various treasury and
financial management positions within AT&T Corporation, Amerada Hess
Corporation and Westinghouse Credit Corporation. Mr. Votek earned a
Masters of Business Administration in Finance from Rutgers University,
where he remains active as an executive mentor for MBA students, and
attended the Executive Education Program of the Colgate W. Darden
Graduate School of Business Administration at the University of Virginia.
Annaly’s principal business objective is to generate net income for
distribution to its shareholders from its investments. Annaly is a
Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”).
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) 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 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 integrate
the commercial mortgage business; our ability to consummate any
contemplated investment opportunities; risks associated with the
businesses of our subsidiaries, including the investment advisory
business of our wholly-owned subsidiaries, including: the removal by
clients of assets managed, their regulatory requirements, and
competition in the investment advisory business; risks associated with
the broker-dealer business of our wholly-owned subsidiary; changes in
government regulations affecting our business; our ability to maintain
our qualification as a REIT for 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.
Annaly Capital Management, Inc.
Investor Relations, 888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.