Chimera Investment Corporation Announces Internalization of Management, $250 Million Stock Buy-Back Plan Including Immediate Repurchase of Shares from Annaly and Releases 2nd Quarter 2015 Earnings

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Go back to Chimera Investment Corporation Announces Internalization of Management, $250 Million Stock Buy-Back Plan Including Immediate Repurchase of Shares from Annaly and Releases 2nd Quarter 2015 Earnings

Chimera Investment (CIM) Announces Management Internalization; Q2 Results; Buyback Program

August 5, 2015 4:19 PM EDT

Chimera Investment (NYSE: CIM) and Annaly Capital Management, Inc. (Annaly) jointly announced that, effective today, Chimera is internalizing its management function. The independent directors on Chimeras Board agreed to the internalization with Annaly in order to accelerate growth and realize cost efficiencies. Chimera will continue to be led by its key professionals including President and Chief Executive Officer Matthew Lambiase, Chief Financial Officer Rob Colligan and Chief Investment Officer Mohit Marria. In addition, Chimeras head of structured products, Choudhary Yarlagadda, was appointed Chief Operating Officer and Phillip J. Kardis II, a... More