real-time news and commentary for investors
Monday, Sep 9
Western Asset Mortgage replaces CIO
- Another battered mortgage REIT makes a C-suite change with Western Asset Mortgage (WMC) announcing the retirement of CIO and Head of Agency MBS Stephen Fulton. He will be replaced by Anup Agarwal who joined the company earlier this year as Head of Non-Agency MBS. Agarwal will also assume the Head of Agency MBS role.
- Western was strictly an agency MBS player until recently, and Agarwal's ascension might mean an expanded focus on non-agency paper.
- Outgoing CIO Fulton plans to pursue interests in an unrelated field.
- Source: Press release.