Colony Credit Real Estate Announces Appointment of New Chief Financial Officer and Treasurer
January 05 2021 - 4:20PM
Business Wire
Colony Credit Real Estate, Inc. (NYSE: CLNC) (the “Company”)
today announced the appointment of Frank V. Saracino as Chief
Financial Officer and Treasurer of the Company, effective January
1, 2021.
The Board of Directors of the Company have unanimously approved
the appointment of the Company’s Chief Accounting Officer, Frank V.
Saracino, 54, as Chief Financial Officer and Treasurer of the
Company. Mr. Saracino will continue as the Chief Accounting Officer
of the Company. “We are fortunate to have Frank elevate in his role
and continue to provide comprehensive financial, accounting and
reporting leadership and experience to the Company,” said Michael
J. Mazzei, Chief Executive Officer and President. “I’d also like to
thank Neale Redington for his able leadership, as he’s been a
valuable part of our team and I wish him the best in his future
role at Colony Capital.”
Mr. Saracino serves as Managing Director at Colony Capital where
his responsibilities include financial accounting and reporting for
certain Colony Capital managed real estate investment trusts and
vehicles as Chief Financial Officer. Prior to joining a predecessor
of the Colony business in 2015, Mr. Saracino was a managing
director with Prospect Capital Corporation where he served from
inception as Chief Financial Officer of its real estate investment
trust subsidiaries and registered closed-end investment companies.
From 2008 to 2012, Mr. Saracino was a Managing Director and
America’s co-head of finance at Macquarie Group, and 2004 to 2008
he was Chief Accounting Officer of eSpeed, Inc., a publicly-traded
subsidiary of Cantor Fitzgerald. Mr. Saracino started his career at
Coopers & Lybrand where he earned a CPA, and subsequently
worked in corporate finance at Deutsche Bank. Mr. Saracino holds a
Bachelor of Science degree from Syracuse University.
Effective January 1, 2021, Neale W. Redington resigned from all
positions at the Company, including Mr. Redington’s position as
Chief Financial Officer and Treasurer of the Company, to transition
to Chief Financial Officer of Colony Capital’s non-digital business
segments.
About Colony Credit Real Estate, Inc.
Colony Credit Real Estate (NYSE: CLNC) is one of the largest
publicly traded commercial real estate (CRE) credit REITs, focused
on originating, acquiring, financing and managing a diversified
portfolio consisting primarily of CRE debt investments and net
leased properties predominantly in the United States. CRE debt
investments primarily consist of first mortgage loans, which we
expect to be the primary investment strategy. Colony Credit Real
Estate is externally managed by a subsidiary of leading global
digital real estate and investment management firm, Colony Capital,
Inc. Colony Credit Real Estate is organized as a Maryland
corporation and taxed as a REIT for U.S. federal income tax
purposes. For additional information regarding the Company and its
management and business, please refer to www.clncredit.com.
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