Annaly Capital Management, Inc. Announces Executive Management Promotions
November 07 2016 - 4:15PM
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.
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