– USA, NY – Annaly Capital Management, Inc. (NYSE: NLY) today announced the election of Manon Laroche and Scott Wede to its Board as Independent Directors, effective October 1, 2023, expanding the Board to twelve members, of whom ten are independent.
“We are excited to welcome both Manon and Scott to our Board of Directors and look forward to benefiting from their deep experience in financial markets and securitized products,” said Board Chair, Mike Haylon.
About Manon Laroche
Ms. Laroche served as Managing Director and head of Global Spread Products Securitized Sales, North America at Citigroup, a global financial services company, from 2018 to February 2023. Before this, Ms. Laroche served as Head of Global Securitized Markets Sales, in New York beginning in 2012. From 2002 to 2012, Ms. Laroche served as a Managing Director in Global Securitized Markets Sales at Citigroup. Ms. Laroche received a B.S. in Applied Math and Economics from Brown University.
About Scott Wede
Mr. Wede served as the Global Head of Securitized Products and Municipal Finance at Barclays Capital from 2004 to 2015. More recently, Mr. Wede served as the President and CFO of Conventus Holdings Corp., a provider of business purpose loans, from January 2022 to April 2022. Mr. Wede has served as a member of the Board of Directors of Rapid Applications Group LLC since 2016 and MPOWER Financing since 2021. He has served as an Advisory Board member of INFLO since 2020. Mr. Wede received a B.S. in Business Administration from Creighton University.
Ms. Laroche and Mr. Wede will stand for re-election to the Board at the Company’s 2024 Annual Meeting of Stockholders for a term of one year. Ms. Laroche has been appointed to the Board’s Corporate Responsibility and Risk Committees. Mr. Wede has been appointed to the Board’s Audit and Risk Committees.
Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Annaly’s principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.
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