Iconic Annaly Capital CEO Passes Away

On Sunday, October 21st, 2012, Annaly Capital (NYSE: NLY  ) founder and former CEO passed away after battling cancer. His longtime associate, Wellington Denahan-Norris was appointed co-CEO earlier this month, prior to Farrell's death. Denahan-Norris also manages Chimera (NYSE: CIM  ) and CreXus (NYSE: CXS  )
(UNKNOWN: CXS.DL.DL  )
Farrell was a highly respected source of insight on the mortgage bond market and his comments on the quarterly Annaly calls, as well as his quarterly "insights" posts on Annaly's website, were closely watched. With Farrell at the helm, Annaly's stock has been a monster performer since its late-90s IPO. However, it does look like the company is being left in capable hands.

Here at The Motley Fool we send our thoughts and condolences to the Annaly Capital family. Throughout the years Annaly Capital Management has had a history of paying huge dividends to it's shareholders. In this brand new premium research report on the company, our analyst runs through these absolute must know topics, as well as the future opportunities and pitfalls of their strategy. Click here now to claim your copy.

Anand Chokkavelu, CFA has no positions in the stocks mentioned above. Fool contributor Matt Koppenheffer has no positions in the stocks mentioned above. The Motley Fool owns shares of Annaly Capital Management. Try any of our Foolish newsletter services free for 30 days.

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