BETHESDA, Md., Feb. 7, 2013 /PRNewswire/ -- American Capital Agency Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced that at a meeting today, the Company's Board of Directors voted to increase the size of the Board by two and elected Prue B. Larocca and John R. Erickson to the new positions.
"We are very excited to have Prue and John join our Board of Directors," said Malon Wilkus, Chair and Chief Executive Officer of AGNC. "Both of these Directors bring a wealth of insight and experience, which will be invaluable to our Board, and I expect that they will play an integral role in guiding AGNC in the years ahead."
Ms. Larocca retired in 2011 from Royal Bank of Scotland (RBS), where from 1997 until her retirement, she was a Managing Director in the firm's Mortgage Backed and Asset Backed Finance Group. She is a widely recognized expert in the areas of housing finance and securitization and is a member of the board of the Housing Preservation Foundation as well as having previously served two terms on the board of the American Securitization Trade Association. Prior to joining RBS, Ms. Larocca was a Senior Vice President at Lehman Brothers in the mortgage finance business, managed the consumer and single family securitization business for the Resolution Trust Corporation, practiced law with the firms of Milbank, Tweed, Hadley and McCloy as well as Kutak Rock. She is a graduate of the Georgetown University Law Center and Indiana University.
Mr. Erickson has served as the Company's Executive Vice President and Chief Financial Officer since its formation in 2008. He is also Executive Vice President and Treasurer of the Company's Manager, American Capital AGNC Management, LLC. Mr. Erickson is also the Executive Vice President and Chief Financial Officer and a member of the Board of Directors of American Capital Mortgage Investment Corp. Mr. Erickson has also served as President, Structured Finance of American Capital, Ltd. since 2008 and as its Chief Financial Officer since 1998. From 1991 to 1998, Mr. Erickson was the Chief Financial Officer of Storage USA, Inc., a REIT formerly traded on the New York Stock Exchange.
ABOUT AMERICAN CAPITAL AGENCY CORP. American Capital Agency Corp. is a real estate investment trust that invests in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity. The Company is externally managed and advised by American Capital AGNC Management, LLC, an affiliate of American Capital, Ltd. ("American Capital"). For further information, please refer to www.AGNC.com.
ABOUT AMERICAN CAPITAL American Capital (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital manages $18.6 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $118 billion of total assets under management (including levered assets). American Capital, through a wholly-owned portfolio company, manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately $10 billion market capitalization and American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately $850 million market capitalization. From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.
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SOURCE American Capital Agency Corp.