– USA, NY – Annaly Capital Management, Inc. (NYSE: NLY) announced today that its Board of Directors has appointed Kevin Keyes as its Chief Executive Officer. Mr. Keyes will also retain the title of President. Wellington Denahan, Annaly’s co-founder, Chairman and Chief Executive Officer, will remain Chairman of the Board of Directors and will also serve as Executive Chairman of the Company focusing on strategic and capital allocation decisions.
Ms. Denahan remarked: “I’m very proud to have co-founded a company that has grown to become the largest mortgage REIT in the world while delivering competitive returns through a wide range of market conditions. I look forward to continuing to work with Kevin and the team as we navigate the opportunities ahead. Kevin began working with Annaly more than a decade ago and we were very fortunate to have him join the Company a few years later. He has been hugely instrumental in helping shape the Company for the future and has the leadership ability and broad experience to drive Annaly’s success in the years ahead.”
“The Board of Directors is pleased to name Kevin as Annaly’s CEO,” said Jonathan Green, Annaly’s Lead Director. “Kevin is a proven leader who will enable us to take advantage of the Company’s numerous growth opportunities in the evolving market landscape. We also look forward to Wellington’s continuing contributions to the Board and the Company as Executive Chairman.”
Kevin Keyes commented: “Nearly 20 years ago, Wellington and Mike Farrell had the vision and leadership to create this phenomenal Company. I’ve been very fortunate to both advise and work closely with each of them and have admired Wellington’s leadership during the challenging and rewarding times over the past few years. I know the opportunity that lies ahead for Annaly is enormous and I am honored and energized to lead along with Wellington going forward. We have further developed and expanded the Annaly investment teams over the past few years and are now more prepared than ever to capitalize on our targeted options for growth in the industry today.”
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”). Annaly is managed and advised by Annaly Management Company LLC.
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