Western Asset Mortgage Capital Corporation Announces Chief Executive Officer and President Appointments
September 07 2021 - 7:00AM
Business Wire
Western Asset Mortgage Capital Corporation (NYSE: WMC) (the
“Company”) announced today that Jennifer Murphy will resign from
her positions as President, Chief Executive Officer (“CEO”) and as
a member of the Board of Directors of the Company (the “Board”),
effective October 1, 2021, to pursue a new venture. To replace her,
the Board of Directors of the Company has appointed Bonnie
Wongtrakool as CEO, and Lisa Meyer as President of the Company,
effective October 1, 2021. Ms. Wongtrakool will also be appointed
to the Board. Ms. Meyer will continue to serve as Chief Financial
Officer (“CFO”) of the Company. Both Ms. Wongtrakool and Ms. Meyer
will work closely with Ms. Murphy, who will remain with the Company
as a Senior Advisor through December 31, 2021, to ensure a smooth
transition of leadership.
“On behalf of the Board, I want to thank Jennifer for her years
of service and many contributions to the Company and wish her the
best in her new venture,” commented James W. Hirschmann, Chairman
of the Board.
“We look forward to welcoming Bonnie Wongtrakool as a Director
and CEO of the Company. Bonnie’s strategic vision and broad
knowledge of all aspects of our business, as well as the depth of
her investment experience, particularly in mortgage-related assets,
make her an ideal leader for WMC.”
“We are also pleased to elevate Lisa Meyer, CFO, to the
additional role of President of the Company, reflecting her ongoing
and important contributions to our financial and operating
strategies.”
Ms. Wongtrakool joined Western Asset in 2003 and has over 22
years of investment industry experience. She will continue to serve
in her current roles as Global Head of ESG Investments and
Portfolio Manager of Western Asset Management Company, LLC
(“Western Asset”), the Company’s Manager. She is also a member of
Western Asset’s US Broad Strategy and Global Product Development
Committees, and chairs Western Asset’s ESG Strategic Steering
Committee. Previously, Ms. Wongtrakool was a member of Western
Asset’s Mortgage and Consumer Credit team for 14 years, first as a
Research Analyst and then as a Portfolio Manager managing Western
Asset’s dedicated mortgage funds. She has broad experience across
the financial services industry, having also worked in strategy
consulting at Mercer Management Consulting, private equity at Orion
Partners, and investment banking at Donaldson, Lufkin &
Jenrette Securities. She graduated with a Bachelor of Arts in
Economics from Harvard College and subsequently received a law
degree from Harvard Law School. She is also a CFA®
charterholder.
Ms. Meyer has served as CFO and Treasurer of the Company since
2016. She has over 23 years of financial experience. Prior to
working in this capacity with the Company, Ms. Meyer was Interim
Chief Financial Officer (beginning in November 2015). From 2011 to
November 2015, she was a Managing Director of FTI, Consulting Inc.
in the real estate solutions practice, where she focused on
providing services related to financial reporting, research and
interpretation of generally accepted accounting principles and
assistance with SEC regulatory matters, primarily regarding REITs,
financial services companies, as well as real estate private equity
funds and other real estate operating companies. She received a
M.S. in Finance from Northeastern University - D’Amore-McKim School
of Business and a Bachelor of Arts in Accounting and Economics from
the City University of New York - Queens College. She is also a
Certified Public Accountant in the State of New York.
ABOUT WESTERN ASSET MORTGAGE CAPITAL CORPORATION
Western Asset Mortgage Capital Corporation is a real estate
investment trust that invests in, acquires and manages a diverse
portfolio of assets consisting of Residential Whole Loans,
Commercial Loans, Non-Agency CMBS, Non-Agency RMBS, GSE Risk
Transfer Securities and to a lesser extent Agency RMBS, Agency CMBS
and ABS. The Company’s investment strategy may change, subject to
the Company’s stated investment guidelines, and is based on its
manager Western Asset Management Company, LLC’s perspective of
which mix of portfolio assets it believes provide the Company with
the best risk-reward opportunities at any given time. The Company
is externally managed and advised by Western Asset Management
Company, LLC, an investment advisor registered with the Securities
and Exchange Commission and a wholly-owned subsidiary of Franklin
Resources, Inc. Please visit the Company’s website at
www.westernassetmcc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210907005236/en/
Investor Relations Contact: Larry Clark Financial Profiles, Inc.
(310) 622-8223 lclark@finprofiles.com
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