Annaly Capital Management, Inc. Expands Leadership Team

NEW YORK--(BUSINESS WIRE)--Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) today announced promotions of senior officers, recent new hires and a broad expansion of the Operating Committee, the Company’s firm-wide management team.

Kevin Keyes, Annaly’s Chief Executive Officer and President commented: “We have made significant progress in establishing a team with broad and complementary expertise to manage and lead the firm now and in the future. With several key roles filled, Annaly is poised to continue to grow and effectively manage our diversified investment strategies.”

Promotion of Key Executives

Annaly is proud to announce the following promotions:

• David L. Finkelstein has been named Chief Investment Officer, Agency and RMBS. David is also a member of the Operating Committee. He joined Annaly in 2013 from the Federal Reserve Bank of New York where he served as an Officer in the Markets Group and was the primary strategist and policy advisor for the MBS purchase program. David has over 20 years of experience in Fixed Income. Prior to the Federal Reserve Bank of New York, David held Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. David has a B.A. from the University of Washington and an M.B.A. from the University of Chicago, Booth School of Business.
• Timothy P. Coffey has been named Annaly’s Chief Credit Officer. In this role, Tim will oversee the expanded risk management team for Annaly’s three investment groups: Agency and Residential Credit, Commercial Real Estate, and Middle Market Lending. Tim is also a member of the Operating Committee and has served as Head of Middle Market Lending since joining Annaly in 2010. Before joining Annaly, Tim was a Managing Director in the Middle Market Leveraged Finance Group of the Bank of Ireland and, prior to that, he worked in corporate and finance roles at Scotia Capital Inc., Reliance Group Holdings, Inc. and SC Johnson Holdings International Inc. Tim has a B.S. from Marquette University.
• Helen W. Crossen has been named Chief Administrative Officer of Annaly and will also become a member of the Operating Committee. Helen joined Annaly in 2014 as the Head of HR. Helen will be responsible for overseeing the daily activities of employees and internal operations of Annaly. Prior to joining Annaly, Helen held HR roles at NBCUniversal Media LLC, General Electric Company and International Business Machines Corporation. Helen earned her B.A., M.A. and J.D. from Rutgers University.
• Peter Dancy has been named Head of Middle Market Lending. Prior to joining Annaly in 2010, Peter had been Managing Director and Head of U.S. Sponsor Coverage for Bank of Ireland. Peter has over 25 years of experience, specifically focused on middle market leveraged finance transactions. Peter received a B.A. from The College of Wooster and an M.B.A. from the University of Chicago, Booth School of Business.
• Jessica LaScala has been named Head of Investor Relations. Jessica joined the Company in 2014 and was most recently a Director of Portfolio Management in Annaly’s Agency Group. Prior to joining Annaly, Jessica was at the Federal Reserve Bank of New York where she managed Mortgage Operations for the Federal Reserve’s MBS purchase program. Before joining the Federal Reserve Bank of New York, Jessica worked at Citigroup Inc. as an Agency MBS Trader. Jessica earned her B.A. from Columbia University, Barnard College.

Continued Expansion of the Management Team

In addition to the foregoing promotions, Annaly is announcing the addition of senior hires across its investment businesses and within its corporate infrastructure. The additions to the management team are profiled below:

Agency and RMBS

• Johanna Griffin has joined Annaly as Managing Director, Head of Agency and Non-Agency MBS Risk. She joined the firm from Barclays PLC where she was Global Head of Market Risk for Securitized Products. Johanna has also held senior risk roles at UBS AG, as a Managing Director in its Fixed Income and proprietary hedge fund divisions. Johanna has extensive experience with MBS, analyzing trading strategies and establishing risk frameworks to identify, measure and mitigate risks. Johanna graduated from Villanova with a B.A. and is a member of the Global Association of Risk Professionals.

Annaly Commercial Real Estate

• John Montesi has joined Annaly as Managing Director – Syndications on the commercial real estate team. Prior to joining Annaly, John was a Senior Vice President at GE Capital Real Estate where he structured, priced and led the real estate loans syndications and mezzanine debt placements for portfolio and single asset loans. John has over 25 years of commercial real estate experience and, in addition to his experience at GE Capital Real Estate, has held roles at BNY Mellon. John has a B.S. from Tufts University and a M.B.A. from Boston University, Questrom School of Business.
• Paul C. Mundinger has joined Annaly’s commercial real estate legal team as a Managing Director, Associate General Counsel. Paul has over 30 years of experience as a commercial real estate attorney, including the last 23 years with the in-house legal department of GE Capital Real Estate. Paul has a B.S. from Hamilton College and a J.D. from the University of San Diego School of Law.

Annaly Corporate

• Audrey K. Susanin has joined Annaly as Director, Associate General Counsel. Prior to joining Annaly, Audrey was a Vice President and Assistant General Counsel at News Corporation advising on matters related to corporate governance, shareholder activism and engagement, securities laws and executive compensation. Prior to News Corporation, Audrey was an associate at Weil, Gotshal and Manges LLP. Audrey has a B.A. from Cornell University and J.D. from Harvard Law School.
• Howard J. Kim has joined Annaly as a Director, Head of Compensation, Benefits and HR Operations. Prior to joining Annaly, Howard was the head of Global Compensation at NASDAQ, Inc. Howard also held several compensation roles including Global Compensation Head, Senior Vice President for divisions within Citigroup Inc. Before joining Citigroup, Inc., Howard held an executive compensation role at Capgemini Ernst & Young. Howard has a B.S. from New York University, Leonard School of Business.

Additions to the Operating Committee

Given Annaly’s continued growth and expansion into diversified investment businesses and the evolving market environment, the Company has expanded its firm-wide Operating Committee with complementary and broad experience. In addition to the previously mentioned new members, the Company has added the following executives to the Operating Committee:

• Steven F. Campbell, Head of Credit Strategy. Steve joined Annaly in April 2015 from Fortress Investment Group LLC where he held various roles over six years as a Managing Director in the Credit Funds business. Steve has also worked with D.B. Zwirn & Co, L.P. and General Electric Capital Corporation with a focus on credit and debt restructuring. Steve has a B.B.A. from the University of Notre Dame and an M.B.A. from the University of Chicago, Booth School of Business.
• Anthony C. Green, Deputy General Counsel. Anthony joined Annaly in 2009 from K&L Gates LLP where he was a partner in the Corporate, Securities, Mergers & Acquisitions Group. Anthony earned his B.A. from the University of Pennsylvania and J.D. and LL.M. from Cornell Law School.
• Michael Quinn, Co-Head of Commercial Real Estate. Mike joined Annaly in January 2014 and along with Jeffrey J. Thompson, Co-Head of Commercial Real Estate, oversees Annaly’s commercial real estate business and team. Mike has over 20 years of experience in commercial real estate, including serving as a Managing Director of Morgan Stanley with senior investment responsibilities for the Morgan Stanley Real Estate Investing platform. Mike has a B.B.A. from the University of Notre Dame.

Effective in January 2016, the members of the Company’s Operating Committee are:

• Kevin G. Keyes, Chief Executive Officer and President
• Wellington J. Denahan, Executive Chairman
• Glenn A. Votek, Chief Financial Officer
• R. Nicholas Singh, Chief Legal Officer
• David L. Finkelstein, Chief Investment Officer, Agency and RMBS
• Timothy P. Coffey, Chief Credit Officer
• Helen W. Crossen, Chief Administrative Officer
• Steven F. Campbell, Head of Credit Strategy
• Anthony C. Green, Deputy General Counsel
• Michael Quinn, Co-Head of Commercial Real Estate

About Annaly

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. Each of the individuals named in this release is employed by Annaly Management Company LLC and provides services to Annaly pursuant to the management agreement between Annaly and Annaly Management Company LLC.

Other Information

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 Agency CRT securities, residential mortgage-backed securities and related residential mortgage credit assets, commercial real estate assets and corporate debt; our ability to consummate any contemplated investment opportunities; changes in government regulations affecting our business; our ability to maintain our qualification as a REIT for federal income tax purposes; 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.