Invesco Mortgage Capital Inc. (NYSE: IVR) has announced the appointment of W. Wesley McMullan to its Board of Directors. McMullan, aged 61, brings with him a wealth of experience, having served as the President and CEO of the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) for 11 years until his retirement in 2021. His 33-year career at FHLBank Atlanta involved significant leadership roles and expertise in various financial disciplines, including banking, MBS and mortgage-related assets, SEC regulatory compliance, asset and liability management, portfolio management, derivatives, and financial operations/systems integration.
McMullan's appointment is expected to have an immediate and positive contribution to the Board, particularly in view of his extensive experience in trading and managing mortgage-backed securities and mortgage-related assets, as well as his expertise in risk management and hedging strategies during different economic cycles. As part of his new role, McMullan will join the Audit, Compensation, and Nomination and Corporate Governance committees of the Company’s Board of Directors.
Invesco Mortgage Capital Inc. is a real estate investment trust primarily focused on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets. The company is externally managed and advised by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), a leading independent global investment management firm.
The addition of McMullan to the Board of Directors is expected to bring significant contributions, oversight, and perspectives to the company’s current strategic focus and core portfolio, especially in light of his extensive experience and expertise in the various financial disciplines relevant to the company's operations. The market has reacted to these announcements by moving the company's shares 0.4% to a price of $9.31. Check out the company's full 8-K submission here.
