BETHESDA, Md., May 16, 2011 /PRNewswire/ -- American Capital
Agency Management, LLC, the external manager of American Capital
Agency Corp. (Nasdaq: AGNC), announced today that Peter J. Federico and M.
Song Jo are joining the company.
Mr. Federico will join as Senior Vice President and Chief Risk
Officer and will be responsible for overseeing all risk management
activities relating to AGNC. Mr. Federico was previously
Executive Vice President and Treasurer of Freddie Mac, primarily
responsible for managing that company's investment activities for
its retained portfolio and developing, implementing and managing
risk mitigation strategies. He was also responsible for
managing Freddie Mac's $1.2 trillion
interest rate derivative portfolio and short and long-term debt
issuance programs. Mr. Federico previously served in several
other capacities at Freddie Mac, including Senior Vice President,
Asset & Liability Management. Mr. Federico joined Freddie
Mac in 1988.
Mr. Jo joined American Capital Agency Management as Vice
President, Mortgage Structuring. He previously served as Vice
President, Mortgage Structuring, Investment & Capital Markets
at Freddie Mac, where he was primarily responsible for managing
mortgage structuring activities, including creating, managing and
trading structured activities to enhance that entity's risk, return
and liquidity profile. Mr. Jo served Freddie Mac in various
other capacities from 1997 to 2010. He previously worked at
Alex. Brown & Sons and Bear, Stearns & Co. Inc.
"We are excited about expanding our investment team with
seasoned professionals," commented Gary
Kain, President, American Capital Agency Management, LLC.
"Peter and Song both have extensive experience in investing,
trading and managing risk associated with mortgage-backed
securities. Prior to joining us, Peter spent most of his 20
year career involved in the management of one of the largest
interest rate derivative portfolios in the world. We believe
that his extensive experience in asset/liability management will
further our efforts to generate attractive risk adjusted returns
for American Capital Agency Corp. over a wide range of economic
environments and interest rate scenarios," he added.
"In addition, Song's experience analyzing and executing Agency
REMIC transactions at Freddie Mac will significantly enhance our
ability to use mortgage structuring to supplement American Capital
Agency Corp.'s returns and develop alternative funding strategies,"
Mr. Kain continued. "We continue to build the strongest
possible investment team with the necessary skills and industry
experience to help us enable American Capital Agency Corp. to
capitalize on the wealth of opportunities within the agency
mortgage market, while appropriately managing risk."
ABOUT AMERICAN CAPITAL AGENCY CORP.
American Capital Agency Corp. is a REIT 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.
American Capital Agency Corp. is externally managed and
advised by American Capital Agency Management, LLC, which is an
affiliate of American Capital, Ltd. ("American Capital").
For further information, please refer to www.AGNC.com.
ABOUT AMERICAN CAPITAL
American Capital 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. Founded in 1986,
American Capital has $37 billion in
assets under management and eight offices in the U.S., Europe and Asia. American Capital and its
affiliates will consider investment opportunities from $10 million to $300 million. For further
information, please refer to www.AmericanCapital.com.
CONTACT:
Investors – (301) 968-9300
SOURCE American Capital Agency Corp.