Invesco Mortgage Capital is reshuffling its leadership, naming Kevin Collins as chief executive officer and David Lyle as president, effective May 1, the company announced this week.
Collins, who has served as president since 2017, will succeed John Anzalone, who is retiring after nine years as CEO. Anzalone is expected to remain in an advisory role through Oct. 1 to support the transition.
The company’s board framed the move as a continuity play, elevating executives with long tenure and deep capital markets experience.
“Kevin and David have been instrumental to the success of the company since its inception,” said Richard King, chairman of the board. “Their leadership, experience, and deep knowledge of the business position them well to continue delivering value to our stockholders.”
Collins has been with the company since its formation in 2009 and also serves as co-head of structured investments for Invesco Fixed Income.
Lyle, who will step into the president role, has been chief operating officer since 2017 and has more than two decades of experience in securitized markets. Like Collins, he has been involved with the platform since 2009.
The appointments point to stability — not a strategic shift — particularly in the firm’s focus on agency mortgage-backed securities.
“David and I look forward to continuing this momentum,” Collins said, pointing to disciplined investment management and consistent performance as priorities.
Leadership changes at mortgage REITs rarely make waves at the retail level, but they matter where it counts: liquidity, pricing, and secondary market execution.
Invesco invests primarily in mortgage-backed securities, making it part of the capital stack that helps determine rate spreads and execution across the industry.
With both Collins and Lyle deeply embedded in securitized products, the transition signals consistency in how the firm approaches risk, leverage, and portfolio construction, factors that ultimately influence MBS demand.
The company has also recently moved to monthly dividend distributions, a step aimed at improving investor alignment and providing more frequent visibility into performance.
For originators, this isn’t a “watch closely” leadership shakeup; it’s a signal that one of the market’s MBS players is staying the course.
