Company veterans join its board of directors
Non-agency lender AG Mortgage Investment Trust (MITT) has announced the appointment of T.J. Durkin as chief executive officer, effective October 1.
In addition to his new role, Durkin will retain his current position as the company’s president and member of the board of directors. He will succeed David Roberts, who has served as CEO since 2011. Roberts will be stepping down from his post on September 30 to pursue interests in philanthropy and public policy.
“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.”
The REIT also announced the addition of Nicholas Smith, chief investment officer, and Debra Hess as non-executive chair to its board of directors.
“We are truly honored to have Debra transition to the role of chair of the board,” Roberts said. “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.”
“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 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 provide MITT with the tools necessary to navigate these challenges and harness MITT’s earnings power. 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.”