The Board of Directors (the “Board”) of Annaly Capital Management, Inc. (NYSE:
) (“Annaly” or the “Company”) today announced that it has appointed Glenn A. Votek, 55, as Chief Financial Officer of the Company. Mr. Votek will also serve as a member of Annaly’s Operating Committee. Mr. Votek was previously the Company’s Chief Administrative Officer.
Following an impressive career, including serving as Chief Financial Officer of the Company since its founding, Kathryn F. Fagan has decided to retire. The Board thanks Ms. Fagan for her many years of service and valuable contributions to the Company.
“I want to personally thank Kathryn for all she has done for the Company over the past 16 years and I wish her all the best in her retirement” said Wellington Denahan, Chairman and Chief Executive Officer of Annaly.
Mr. Votek has over 20 years of financial and operational experience with particular expertise in risk management, capital raising, liability management and regulatory oversight. Mr. Votek joined the Company in May 2013 from CIT Group where he was an Executive Vice President and Treasurer since 1999 and President of Consumer Finance since 2012. At CIT, Mr. Votek was responsible for all functional areas of CIT’s treasury group, including capital markets, securitization, asset/liability management, hedging, international treasury, cash management, and banking and rating agency relations. He was also actively involved in the investor marketing activities at CIT. Included among his committee memberships were: Asset Liability Management Committee, Financial Disclosure Committee, Pension Investments Committee and the Employee Benefit Plans Committee. He also previously served as Chairman of the Board of CIT Bank.
Mr. Votek joined CIT in November 1999 following its acquisition of Newcourt Credit Group, at which time he was appointed Treasurer. Prior to the acquisition, he was the Treasurer of Newcourt Credit Corp. and AT&T Capital Corporation. Mr. Votek has also held various treasury and financial management positions within AT&T Corporation, Amerada Hess Corporation and Westinghouse Credit Corporation. Mr. Votek earned a Masters of Business Administration in Finance from Rutgers University, where he remains active as an executive mentor for MBA students, and attended the Executive Education Program of the Colgate W. Darden Graduate School of Business Administration at the University of Virginia.