There's a new name next to the chief financial officer title at Annaly Capital Management (NLY 1.96%). The company revealed that it has tapped Glenn Votek to be its new CFO, in place of the retiring Kathryn Fagan. Votek will also serve on the REIT's operating committee.
Votek is a relative newcomer to the company, having joined it this past May as chief administrative officer. Before that, he was executive vice president, treasurer, and president of consumer finance at CIT Group, where he had worked since 1999.
Fagan, who had been Annaly's CFO since its founding in 1997, served notice of her retirement last week.
