Popular on EntSun
- Actor Phillip Steward Featured on The Industry Podcast with James Winborn - 150
- VENUS Goes Live on CATEX Exchange As UK Financial Ltd Activates The Premier Division Of The Maya Meme's League - 135
- Elder Abuse Case Against Healthy Traditions Owner Raises Questions As To The Dire Reality Of Abuse Against The Last Of The Baby Boomers - 130
- Nieuwe standaard in webdesign: Professionele website laten maken voor het MKB vanaf €249 door Websitepioniers - 118
- Progressive Dental & The Closing Institute Partner with Zest Dental Solutions to Elevate Full-Arch Growth and Patient Outcomes - 114
- Notice: Hrm Queen Laurence I Assumes Crown Control & $317q Fund. 3bn Unopoly Shares Settled. Requisition Of Buckingham Palace & Windsor Castle Final - 109
- Arcuri Group Announces Long‑Term Partnership with WakeMed Health & Hospitals to Deliver Situational Awareness and De‑escalation Training - 107
- Tobu Group's "T-home Series" of Accommodations in Tokyo Just Opened "T-home KEI." - 104
- New Book Warring From the Standpoint of the Throne Room Calls Believers to Pray From Victory - 104
- AI Disruption Meets Marine Scale: Off The Hook YS, Inc. (N Y S E American: OTH) Targets Breakout Growth with NextBoat Launch and Aggressive Expansion - 101
Similar on EntSun
- NRx Pharmaceuticals Could Be on the Verge of a Breakout Year as AI, FDA Catalysts, and Mental Health Demand Converge
- DC Accounting Firm Offers Free Business CRM to Small Business Clients Alongside Weekly Bookkeeping Model
- Explosive $10 Billion Counter-Drone Market with AI-Powered Defense Ecosystem: ZenaTech, Inc. (N A S D A Q: ZENA)
- High-Value Execution Phase Begins: Bitcoin Bancorp Ignites Texas Rollout of Digital Asset ATM Network: Bitcoin Bancorp (Stock Symbol: BCBC) $BCBC
- UK Financial Ltd Tokenized LTNS 1, A $1.1 T Asset-Backed ERC-3643 Security Token with 11 On-Chain Contracts Verifying, Compliant Real-World Value
- The Inner Power of Emotional Self-Leadership
- Dr. Nadene Rose Shares the Secret to True Success: Faith, Obedience, and Divine Purpose
- Award-Winning REALTOR® Paige Coker Joins Corcoran DeRonja Real Estate
- TicTac Group acquires French EdTech company Distrisoft
- Newborn Care Network Introduces Clinical Standard to Bridge the Six-Week Postpartum Gap
AG Mortgage Investment Trust, Inc. Announces Series of Corporate Governance Changes
EntSun News/10956005
NEW YORK--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the "Company") announced that its Board of Directors (the "Board") has appointed T.J. Durkin as the Company's Chief Executive Officer, effective October 1, 2022. In addition to the new CEO role, Mr. Durkin will continue his roles as the Company's President and as a member of the Board.
David Roberts, who has served as the Company's CEO since its initial public offering in 2011, will resign as the Company's Chairman and CEO and as a member of the Board, in connection with his pending retirement as a partner at Angelo, Gordon & Co., L.P. on September 30, 2022. Following his retirement, Mr. Roberts plans to pursue his interests in philanthropy and public policy.
Debra Hess, currently the Company's Lead Independent Director, has been appointed by the Board to the position of Non-Executive Chair of the Board, effective October 1, 2022. As a seasoned real estate and mortgage industry executive, Ms. Hess brings over 25 years of investment and leadership experience, as well as a deep knowledge of MITT's business.
Nicholas Smith, the Company's Chief Investment Officer, will become a member of the Board effective October 1, 2022. Mr. Smith is the head of Angelo Gordon's residential whole loan business and brings significant experience in specialized structured credit trading and capital markets.
"In early 2021, we set out to reposition and simplify the Company's mission – to become a leading, pure play residential credit REIT," said Mr. Roberts. "T.J. and his team have achieved this transformation at a rapid pace and I am confident that under T.J.'s leadership, MITT will continue to be well positioned in executing our origination and securitization strategy and growing our business." Mr. Roberts continued, "We are truly honored to have Debra transition to the role of Chair of the Board. Her strategic insight, experience and thoughtful leadership as our Lead Independent Director perfectly positions her to lead the MITT Board and reinforces our commitment to strong corporate governance and enhancing stockholder value."
More on EntSun News
"I want to thank David for his visionary leadership in building what MITT is today, and on behalf of the company I wish him well in his future endeavors," said Mr. Durkin. "While uncertainty and volatility in the market persist, we continue to firmly believe that our robust loan pipeline, disciplined financing strategy, strong liquidity position, and the support and resources of Angelo Gordon, provides MITT with the tools necessary to navigate these challenges and harness MITT's earnings power." Mr. Durkin added, "We are extremely pleased to have Nick join the Board. His deep mortgage origination and securitization expertise will strengthen and complement the mix of skills and robust experience of our Board."
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a leading privately-held alternative investment firm focusing on credit and real estate strategies.
Additional information can be found on the Company's website at www.agmit.com.
About Angelo, Gordon & Co., L.P.
Angelo, Gordon & Co., L.P. ("Angelo Gordon") is a privately-held alternative investment firm founded in November 1988. The firm currently manages approximately $52 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 600 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe and Asia. For more information, visit www.angelogordon.com.
More on EntSun News
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that may cause such a difference, include, without limitation, the Company's ability to achieve the anticipated benefits of its origination and securitization strategy, the Company's ability to grow at the pace anticipated or at all, the impact of uncertainty and volatility in the markets on the Company's business and strategy, the Company's pipeline, the Company's liquidity, the Company's financing strategy, the Company's management and resources, the Company's ability to navigate challenging market conditions and harness MITT's earnings power, including the ability to enhance shareholder value, and other risks and uncertainties, including those detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and its other reports filed from time to time with the U.S. Securities and Exchange Commission. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. The Company cautions investors not to unduly rely on any forward-looking statements.
The forward-looking statements speak only as of the date of this press release. The Company is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and the Company does not intend to do so.
Contacts
AG Mortgage Investment Trust, Inc.
Investor Relations
(212) 692-2110
ir@agmit.com
David Roberts, who has served as the Company's CEO since its initial public offering in 2011, will resign as the Company's Chairman and CEO and as a member of the Board, in connection with his pending retirement as a partner at Angelo, Gordon & Co., L.P. on September 30, 2022. Following his retirement, Mr. Roberts plans to pursue his interests in philanthropy and public policy.
Debra Hess, currently the Company's Lead Independent Director, has been appointed by the Board to the position of Non-Executive Chair of the Board, effective October 1, 2022. As a seasoned real estate and mortgage industry executive, Ms. Hess brings over 25 years of investment and leadership experience, as well as a deep knowledge of MITT's business.
Nicholas Smith, the Company's Chief Investment Officer, will become a member of the Board effective October 1, 2022. Mr. Smith is the head of Angelo Gordon's residential whole loan business and brings significant experience in specialized structured credit trading and capital markets.
"In early 2021, we set out to reposition and simplify the Company's mission – to become a leading, pure play residential credit REIT," said Mr. Roberts. "T.J. and his team have achieved this transformation at a rapid pace and I am confident that under T.J.'s leadership, MITT will continue to be well positioned in executing our origination and securitization strategy and growing our business." Mr. Roberts continued, "We are truly honored to have Debra transition to the role of Chair of the Board. Her strategic insight, experience and thoughtful leadership as our Lead Independent Director perfectly positions her to lead the MITT Board and reinforces our commitment to strong corporate governance and enhancing stockholder value."
More on EntSun News
- High-Value Execution Phase Begins: Bitcoin Bancorp Ignites Texas Rollout of Digital Asset ATM Network: Bitcoin Bancorp (Stock Symbol: BCBC) $BCBC
- The Team of Atlas Elite Entertainment honors Rodney F Crews
- Lovecraft in Florida Wins Best Documentary
- UK Financial Ltd Tokenized LTNS 1, A $1.1 T Asset-Backed ERC-3643 Security Token with 11 On-Chain Contracts Verifying, Compliant Real-World Value
- SelfCare is now HealthCare across America
"I want to thank David for his visionary leadership in building what MITT is today, and on behalf of the company I wish him well in his future endeavors," said Mr. Durkin. "While uncertainty and volatility in the market persist, we continue to firmly believe that our robust loan pipeline, disciplined financing strategy, strong liquidity position, and the support and resources of Angelo Gordon, provides MITT with the tools necessary to navigate these challenges and harness MITT's earnings power." Mr. Durkin added, "We are extremely pleased to have Nick join the Board. His deep mortgage origination and securitization expertise will strengthen and complement the mix of skills and robust experience of our Board."
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a leading privately-held alternative investment firm focusing on credit and real estate strategies.
Additional information can be found on the Company's website at www.agmit.com.
About Angelo, Gordon & Co., L.P.
Angelo, Gordon & Co., L.P. ("Angelo Gordon") is a privately-held alternative investment firm founded in November 1988. The firm currently manages approximately $52 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 600 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe and Asia. For more information, visit www.angelogordon.com.
More on EntSun News
- Packing House Restaurant Promotions
- No Limit East Announces Salute U P (Master P Tribute) Releasing March 29, 2026
- No Limit East Announces "Master P Tribute"
- Independent Country Artist Kirk Menard Announces New Album Release
- Legal Powerhouses, Dance Drama, and Romance: Meet the New Platform Debuting This April
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that may cause such a difference, include, without limitation, the Company's ability to achieve the anticipated benefits of its origination and securitization strategy, the Company's ability to grow at the pace anticipated or at all, the impact of uncertainty and volatility in the markets on the Company's business and strategy, the Company's pipeline, the Company's liquidity, the Company's financing strategy, the Company's management and resources, the Company's ability to navigate challenging market conditions and harness MITT's earnings power, including the ability to enhance shareholder value, and other risks and uncertainties, including those detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and its other reports filed from time to time with the U.S. Securities and Exchange Commission. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. The Company cautions investors not to unduly rely on any forward-looking statements.
The forward-looking statements speak only as of the date of this press release. The Company is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and the Company does not intend to do so.
Contacts
AG Mortgage Investment Trust, Inc.
Investor Relations
(212) 692-2110
ir@agmit.com
Filed Under: Business
0 Comments
Latest on EntSun News
- Scientology Network Celebrates International Day of Happiness with Global Marathon
- Comedian Marc Yaffee Headlines Willits High School Sober Grad Fundraiser Show
- NYC Psychic With 8–1 Fight Prediction Record Calls Israel Adesanya Win Before UFC Seattle
- Mark Dobosz Makes Donorassess.org Free To Every Nonprofit On The Planet
- Genpak Announces Closure of Utah Manufacturing Facility
- Isiah Thomas, the IWPA, Chef Sergentakis & Blank Page to Author Join Walden's Book Launch on Liftoff
- Newborn Care Network Introduces Clinical Standard to Bridge the Six-Week Postpartum Gap
- Natural Born Clothing Brand Announces "CALM IS A LUXURY" Spring/Summer 2026 Pop-Up Experience
- Former Ad Guy Delivers a Gripping Political Thriller "Balance of Evil" That Explores Power, Betrayal, and Corruption
- The AAA Metamorphosis: How Global Gaming Is Redefining Production Standards
- Monexplora Explains the Options Mechanics Behind March's Tech Selloff and VIX Surge
- The Podcast Built From a Father's Worst Conversation With His Son
- CarolinaRedd.com Relaunches with Fully Digitized Art Portfolio Showcasing Rapper, Actress, Model
- Larry R. Wasion Highlights Jump Gate I: Time Chair. The Opening Novel in His Expansive Science Fiction Series
- New Book Reveals The Science Of Predictions
- Compliance Alert: Maryland, Texas Regulate Use of Artificial Intelligence in Utilization Reviews
- Colony Ridge Communities Celebrates Successful Soccer Season Kickoff with Families and Youth
- Billy Bob Thornton & The Boxmasters Coming to The Eichelberger Performing Arts Center This August
- Harlem Globetrotters & Keepsake Trading Cards Launch Centennial Trading Card Collection
- Colette Barris's Open Letter To Revolt's Detavio Samuels 'The BlackPrint' Interview Of Kenya Barris