New Residential Announces New Chief Financial Officer; Declares an Increase to Quarterly Dividend
NEW YORK--(BUSINESS WIRE)-- New Residential Investment Corp. (NYSE:NRZ; “New Residential” or the “Company”) today announced the appointment of Nicola Santoro, Jr. as the Company’s new Chief Financial Officer.
Mr. Santoro joins New Residential from FXCM Inc., where he was the Chief Accounting Officer, overseeing the firm’s global financial reporting, tax and financial planning. Prior to his role at FXCM Inc., he was the Chief Financial Officer of Financial Guaranty Insurance Company. Mr. Santoro is a registered Certified Public Accountant.
“We are excited to welcome Nick to New Residential as the new Chief Financial Officer,” said Michael Nierenberg, Chief Executive Officer of New Residential. “With over 20 years of financial management experience, Nick is a strong addition to our team.“
Mr. Santoro succeeds Jonathan Brown, who has served as New Residential’s Interim Chief Financial Officer since October 2014. Mr. Brown will remain at New Residential and continue his role as Chief Accounting Officer.
“We would like to thank Jonathan for his service as Interim Chief Financial Officer while we conducted the search for our permanent Chief Financial Officer, and for continuing to serve as New Residential’s Chief Accounting Officer,” said Mr. Nierenberg.
In addition, New Residential’s Board of Directors declared a quarterly dividend of $0.46 per common share for the third quarter of 2015, up from $0.45 per common share in the second quarter of 2015. The dividend is payable on October 30, 2015 to shareholders of record on October 5, 2015.
“This marks the second time New Residential has increased the quarterly dividend this year. It reflects our ongoing commitment to our shareholders and our confidence in our investment strategy. Looking ahead, we aim to continue to deliver strong earnings and consistent returns for our shareholders,” said Mr. Nierenberg.
ABOUT NEW RESIDENTIAL
New Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in mortgage servicing related assets and other related opportunistic investments. New Residential is organized and conducts its operations to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is managed by an affiliate of Fortress Investment Group LLC (NYSE: FIG), a global investment management firm.
New Residential Investment Corp.
Investor Relations, 212-479-3150
Source: New Residential Investment Corp.
Released September 22, 2015