NEW YORK--(BUSINESS WIRE)--Sep 11, 2018--Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) today announced that it has added senior hires across its investment groups and within its corporate infrastructure, as profiled below. Kevin Keyes, Annaly’s Chairman, Chief Executive Officer and President, commented: “The addition of these seasoned professionals amplifies the reach of our four investment groups and broadens Annaly’s risk, strategy, IT and governance expertise. Each of these individuals bring unique experience which strengthen their respective groups, and further solidifies Annaly as an industry leader. Our ongoing investment in our talent, along with our unique and expansive employee stock ownership guidelines, continue to be essential elements of our success.”

Additions to Investment Groups

Commercial Real Estate

Timothy (Tim) Gallagher has joined Annaly as Head of the Commercial Real Estate Group. Tim has over 20 years of commercial real estate lending and capital markets experience at leading real estate finance and investment firms. Prior to joining Annaly, Tim spent time in senior roles at Prima Capital, Morgan Stanley and Goldman Sachs. Tim is a member of the Executive Committee of the Board of Governors for the Commercial Real Estate Finance Council (“CREFC”) and previously served as the Chairman of CREFC’s Board and a member of the Advisory Board of the Center for Real Estate at the Fisher College of Business at The Ohio State University.

David Sotolov has joined Annaly as a Managing Director, Commercial Real Estate Group. Prior to joining Annaly, David was an Executive Vice President at iStar, Inc. and head of iStar’s West Coast Investments. Prior to that, David worked as a Senior Vice President, Loan Originator at Fremont Investment & Loan and started his real estate career as an Associate at Southern Pacific Bank. David has almost 20 years of experience in commercial real estate loan origination.

Nishant Nadella has joined Annaly as a Director, Commercial Real Estate Group. Prior to joining Annaly, Nishant was a Senior Vice President and Partner at H/2 Capital Partners, where he was responsible for trading and risk management of a multibillion dollar portfolio of commercial mortgage backed securities (“CMBS”). Prior to H/2, Nishant held various CMBS related trading positions at Citigroup. In his time at Citigroup, Nishant was instrumental in starting both the Agency CMBS and Build America Bond trading businesses.

Agency and Residential Credit

Jay DeLong has joined Annaly as a Director, Agency and Residential Credit Groups. Jay joins Annaly from Sovarnum Capital LP (“Sovarnum”), where he was a Portfolio Manager and Head of Research. Prior to Sovarnum, Jay held the position of Head of Securitized Products Research at PointState Capital LP and Duquesne Capital Management LLC with previous experience at Lehman Brothers, Inc. as a mortgage strategist and quantitative researcher.

Middle Market Lending

Mark McNally has joined Annaly as a Director, Middle Market Lending Group. Mark has over 20 years of middle market lending experience. Mark joins Annaly from Bank of Ireland’s Leveraged Acquisition Finance Group, where he was a Director focused on underwriting transactions and participated in the Bank of Ireland’s selective Future Leaders program.

Additions to Corporate Infrastructure

Tanya Rakpraja has joined Annaly as a Managing Director, Government Relations and Social Responsibility Group. Prior to joining Annaly, Tanya was a Senior Director of Strategic Lending Initiatives at Capital Impact Partners (“CIP”), the Community Development Financial Institution with which Annaly has a social impact joint venture. Prior to CIP, Tanya oversaw Mortgage Operations and Trading for the Federal Reserve’s Large Scale Asset Purchase Program.

Danielle Cooper has joined Annaly as a Director, Corporate Development and Strategy Group. Danielle joins Annaly from Bank of America Merrill Lynch, where she was a Vice President in the Mergers and Acquisitions Structured Solutions Group and focused on advising clients on a broad range of complex financing and advisory solutions. Earlier this year, Danielle was named to Forbes’ 30 Under 30 Finance professionals list.

Christian Greco has joined Annaly as a Director, Legal and Compliance Group, supporting the Agency and Residential Credit Groups. Prior to joining Annaly, Christian was an Associate General Counsel at Goldman Sachs & Co. LLC. Prior to Goldman, Christian held the position of Assistant General Counsel in the Securitized Products Group at JPMorgan Chase & Co., with previous experience at Sidley Austin LLP. Christian has over 16 years of experience in the securitized products and structured finance industry.

Suet Fung Lau has joined Annaly as a Director, Information Technology Group. Suet joins Annaly from Sovarnum and previously held senior positions at PointState Capital LP, Duquesne Capital Management and Lehman Brothers, Inc. Suet brings over 20 years of experience in design and development of models, pricing and analytics tools, risk management, quantitative trading strategies and trading systems for fixed income instruments.

Gregory (Greg) Insinga has joined Annaly as a Director, Treasury Group. Prior to joining Annaly, Greg worked as a risk management and reporting compliance consultant assisting both Deutsche Bank and Goldman Sachs. Prior to consulting, Greg was a Vice President in Barclays Capital Inc.’s Securitized Products Middle Office Group, where he oversaw the group’s daily treasury, credit, repo and derivative trading operations. Greg also has additional previous mortgage related experience from his time at Morgan Stanley.

Annaly’s Employee Stock Ownership Guidelines

Each of the professionals listed above are subject to the Company’s broad-based employee stock ownership guidelines, which were expanded to cover over 40% of Annaly’s employees in 2016. Pursuant to these guidelines, and as a reflection of our commitment to aligning the interests of our employees and our shareholders, Director-level and above employees are asked to purchase predetermined amounts of Annaly shares in the open market based on certain criteria including seniority, compensation level and role. In July 2017, Annaly’s Chairman, Chief Executive Officer and President Kevin Keyes voluntarily increased his stock ownership commitment by 50% to an aggregate of $15 million. In addition to Mr. Keyes, other members of senior management, including Chief Investment Officer David Finkelstein, Chief Credit Officer Timothy Coffey, Chief Financial Officer Glenn Votek and Chief Legal Officer Anthony Green, have also committed to voluntarily increase their stock ownership positions beyond the amounts required pursuant to the employee stock ownership guidelines. As of June 30, 2018, 100% of employees subject to the Company’s expanded stock ownership guidelines either met, or within the applicable period are expected to meet, such guidelines.

About Annaly

Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly’s principal business objective is to generate net income for distribution to its stockholders and to preserve capital through the prudent selection of investments and continued management of its portfolio. Annaly has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Annaly is externally managed by Annaly Management Company LLC (the “Manager”). Each of the individuals named in this release is employed by the Manager or a subsidiary of Annaly and provides services to Annaly pursuant to the management agreement between Annaly and the Manager. Additional information is available at www.annaly.com.

Forward-Looking Statements

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 credit risk transfer securities, residential mortgage-backed securities and related residential mortgage credit assets, commercial real estate assets and corporate debt; risks related to investments in mortgage servicing rights; 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 U.S. federal income tax purposes; our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended; and any potential business disruption following the acquisition of MTGE Investment Corp., which we completed on September 7, 2018. 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, except as required by law.

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CONTACT: Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

www.annaly.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Annaly Capital Management, Inc.

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PUB: 09/11/2018 04:02 PM/DISC: 09/11/2018 04:02 PM

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