Ag Mortgage Investment Trust, Inc. Appoints T.J. Durkin as President, Effective April 12, 2021
April 05, 2021 at 05:06 pm EDT
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On March 31, 2021, the Board of Directors of AG Mortgage Investment Trust, Inc. upon the recommendation of the Board's Nominating and Corporate Governance Committee, appointed T.J. Durkin, the Company's current Chief Investment Officer (CIO"), as President of the Company, effective April 12, 2021. In connection with Mr. Durkin's appointment as President of the Company, David N. Roberts will resign as President effective April 12, 2021. Mr. Roberts will continue to serve as Chief Executive Officer of the Company and Chairman of the Board. In connection with his appointment to President and the appointment of a new CIO, as discussed below, Mr. Durkin will resign from his position as CIO, effective April 12, 2021. Mr. Durkin has served as the Company's CIO since October 31, 2017. Mr. Durkin joined Angelo, Gordon & Co., L.P., the parent of the Company's external manager (Angelo Gordon"), in 2008 and is a Managing Director, a member of the firm's Advisory Board and Executive Committee and Co-Head of the firm's Structured Credit Platform. He currently serves as co-Portfolio Manager of Angelo Gordon's residential mortgage and consumer debt securities portfolios and as a board member of Arc Home, Angelo Gordon's affiliated mortgage originator and GSE
licensed servicer.
AG Mortgage Investment Trust, Inc. is a residential mortgage real estate investment trust (REIT) with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the United States mortgage market. The Company focuses its investment activities primarily on acquiring and securitizing newly-originated residential mortgage loans within the non-agency segment of the housing market. The Company obtains its assets through Arc Home, LLC, its residential mortgage loan originator, and through other third-party origination partners. Its investment portfolio (which excludes its ownership in Arc Home) includes residential investments and agency residential mortgage-backed securities (RMBS). Its residential investments consist of newly originated non-agency loans and agency-eligible loans. Its agency RMBS represent interests in pools of residential mortgage loans guaranteed by a government-sponsored enterprise (GSE). Its manager is AG REIT Management, LLC.