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AG Mortgage Investment Trust announced that its board of directors has appointed T.J. Durkin as the company’s CEO, effective Oct. 1. In addition to the new role, 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 Manhattan-based company’s chairman and CEO and as a board member, in connection with his pending retirement as a partner at Angelo, Gordon & Co. L.P. on Sept. 30.
Debra Hess, the company’s lead independent director, has been appointed by the board to the position of non-executive chair, effective Oct. 1. As a seasoned real estate and mortgage industry executive, 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 board member effective Oct. 1. 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,” Roberts said. “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.”