PASADENA, Calif., June 23, 2020 /PRNewswire/ -- Western Asset
Mortgage Capital Corporation (the "Company") (NYSE: WMC) today
announced that Lisa Quateman had
been elected as an independent member of its Board of Directors on
June 19, 2020, increasing the total
number of independent directors to five and the total number of
directors to seven.
Ms. Quateman is a senior partner of the national law firm
Polsinelli with extensive experience working on real estate
matters, advising issuers and financial institutions in complex
financing transactions. She joined Polsinelli in July 2011 as the founding Office Managing Partner
for the firm's Los Angeles office
and served in that role for nearly five years. Previously, she was
the managing partner of the firm of Quateman LLP, which she founded
in 1989. Ms. Quateman serves on the boards of directors of ITR
Concession Company and affiliates (public-private partnership
operator of the Indiana Toll Road), Scherzer International
Corporation, National Association of Corporate Directors (NACD)
Pacific Southwest Chapter and Heidi Duckler
Dance. She is a member of the Advisory Board of the UCLA
Ziman Center for Real Estate and the City of Hope Board of
Governors. Her prior board experience includes serving as Vice
Chair and General Counsel for the UCLA Alumni Association and as a
Mayoral appointee to the City of Los Angeles Industrial Development
Authority. Ms. Quateman is an NACD Board Leadership Fellow, and
earned her bachelor of arts and juris doctor degrees from the
University of California at Los
Angeles.
"We are delighted to welcome Lisa
Quateman to our Board of Directors. Lisa brings significant
knowledge and expertise in the areas of financial services, real
estate, regulatory matters and corporate transactions and we look
forward to her contribution to our Board and the Company," said
James Hirschmann, Chairman of
Western Asset Mortgage Capital Corporation.
ABOUT WESTERN ASSET MORTGAGE CAPITAL CORPORATION
Western Asset Mortgage Capital Corporation is a real estate
investment trust that invests in, acquires and manages a diverse
portfolio of assets consisting of Residential Whole Loans,
Commercial Whole Loans, Non-Agency CMBS, GSE Risk Transfer
Securities and to a lesser extent Agency CMBS, Agency RMBS,
Non-Agency RMBS and ABS. The Company's investment strategy may
change, subject to the Company's stated investment guidelines, and
is based on its manager Western Asset Management Company, LLC's
perspective of which mix of portfolio assets it believes provide
the Company with the best risk-reward opportunities at any given
time. The Company is externally managed and advised by Western
Asset Management Company, LLC, an investment advisor registered
with the SEC and a wholly-owned subsidiary of Legg Mason, Inc.
("Legg Mason")
On February 18, 2020, Franklin
Resources, Inc. ("Franklin") and Legg
Mason announced that they had entered into an agreement
under which Franklin would acquire Legg
Mason and its affiliates, including Western Asset Management
Company, LLC. The transaction is expected to close in
the third quarter of 2020 and is subject to customary closing
conditions. Upon completion of the transaction Western Asset
Management Company, LLC would become a wholly owned subsidiary of
Franklin.
Please visit the Company's website at
www.westernassetmcc.com.
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SOURCE Western Asset Mortgage Capital Corporation