NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (the “Company” or “Annaly”) today
announced management promotions within its senior executive team, which
are effective immediately. David L. Finkelstein, who has been serving as
Annaly’s Chief Investment Officer, Agency and RMBS, has been named
Annaly’s Chief Investment Officer. The Chief Investment Officer position
is a newly created position in which Mr. Finkelstein will oversee all of
Annaly’s investments and their related investment operations. Timothy P.
Coffey, Annaly’s Chief Credit Officer, is being promoted to assume
expanded management responsibilities for the Company’s risk department
and credit businesses.
“I am very excited about promoting David and Tim to their respective new
positions. Their deep expertise, leadership and proven dedication have
played a pivotal role in transforming Annaly into a diversified capital
manager. Annaly is uniquely positioned to capitalize on the multiple
investment options in each of our Agency, Residential Credit, Commercial
Real Estate and Middle Market Lending businesses,” said Kevin Keyes,
Chief Executive Officer and President of Annaly.
David L. Finkelstein
David L. Finkelstein is Chief Investment Officer at Annaly. Prior to
joining Annaly in 2013, Mr. Finkelstein served for four years as an
Officer in the Markets Group of the Federal Reserve Bank of New York
where he was the primary strategist and policy advisor for the MBS
purchase program. Mr. Finkelstein has over 20 years of experience in
fixed income investment. Prior to the Federal Reserve Bank of New York,
Mr. Finkelstein held Agency MBS trading positions at Salomon Smith
Barney, Citigroup Inc. and Barclays PLC. Mr. Finkelstein received his
B.A. from the University of Washington and his M.B.A. from the
University of Chicago, Booth School of Business. Mr. Finkelstein also
holds the Chartered Financial Analyst® designation.
Timothy P. Coffey
Timothy P. Coffey is Chief Credit Officer at Annaly. Mr. Coffey served
as Annaly’s Head of Middle Market Lending from 2010 until January 2016
when he was promoted to Chief Credit Officer. Mr. Coffey has over 20
years of experience in leveraged finance and has held a variety of
origination, execution, structuring and distribution positions. Prior to
joining Annaly in 2010, Mr. Coffey served as Managing Director and Head
of Debt Capital Markets in the Leverage Finance Group at Bank of
Ireland. Prior to that, Mr. Coffey held positions at Scotia Capital, the
holding company of Saul Steinberg’s Reliance Group Holdings, and SC
Johnson International. Mr. Coffey received his B.A. in Finance from
Marquette University.
General
Annaly’s principal business objectives are to generate net income for
distribution to its shareholders from its investments and capital
preservation. Annaly is a Maryland corporation that has elected to be
taxed as a real estate investment trust (“REIT”). Annaly is managed and
advised by Annaly Management Company LLC.
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; any potential business disruption
following the acquisition of Hatteras; our ability to consummate any
contemplated investment opportunities; changes in government regulations
affecting our business; our ability to maintain our qualification as a
REIT; 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/20161107006449/en/
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.