Redwood Trust Announces Expansion Of Leadership Team
Redwood Trust (NYSE: RWT) has announced the appointment of Brooke Carillo as its new Chief Financial Officer, effective May 2021. Carillo joins from Annaly Capital Management, where she held various strategic roles. CEO Chris Abate expressed confidence in her ability to enhance the leadership team. Current CFO Collin Cochrane will transition to Chief Accounting Officer, maintaining his role in financial initiatives. The company emphasizes its focus on expanding access to housing and strengthening its market position.
- Brooke Carillo's strategic acumen and industry relationships may strengthen Redwood's leadership team.
- Collin Cochrane will continue to leverage his financial expertise in his new role.
- Transition of leadership may introduce uncertainty in the company's financial strategy.
- Potential concerns regarding continuity and experience gaps with the management change.
MILL VALLEY, Calif., May 7, 2021 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT), a leader in expanding access to housing for homebuyers and renters, today announced that Brooke Carillo will join Redwood to serve as its next Chief Financial Officer. Ms. Carillo is expected to start at Redwood in May 2021 and will report to Redwood's Chief Executive Officer, Chris Abate.
Mr. Abate stated, "We are very pleased to welcome Brooke to Redwood. She brings to us a valuable blend of strategic acumen, industry relationships and transactional experience, which will further strengthen our leadership team."
Ms. Carillo commented, "I am thrilled to join Redwood during this stage of corporate innovation and rapid progress. I share the excitement of my fellow team members about the extraordinary opportunity ahead of us to expand the company's leadership position within a sector that is only growing in scale and importance."
Ms. Carillo brings a strong and relevant professional background to Redwood. She most recently served as Head of Corporate Strategy at Annaly Capital Management, where she held a variety of roles over more than a decade of service, including membership on that firm's Operating Committee and oversight of its corporate strategy, capital markets and investor relations departments. Ms. Carillo also has previous experience in investment banking, having worked as part of the Financial Institutions Group at Bank of America Merrill Lynch. Ms. Carillo holds a B.S. in Economics from Duke University.
Collin Cochrane, Redwood's current CFO, will continue in that capacity until Ms. Carillo's role commences, at which time he will take on the role of Chief Accounting Officer while also assuming dedicated responsibility for certain other corporate finance initiatives. He will continue to serve as Redwood's principal accounting officer.
Mr. Abate commented, "Collin has served admirably at Redwood in various capacities since he joined the company in 2013. Most recently, as CFO, he successfully managed the transition and institutionalization of the finance and accounting departments to scale with our operating platforms. We are pleased that Collin will be heading up key initiatives enterprise-wide that will leverage his financial expertise, while maintaining his strong leadership of the accounting function."
Mr. Abate concluded, "The complementary skillsets of Brooke, Collin, and the financial leadership team at Redwood positions us to best execute on our ambitious growth plan going forward."
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit. Our operating platforms occupy a unique position in the housing finance value chain, providing liquidity to growing segments of the U.S. housing market not served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms; whole-loan distribution activities; and our publicly traded shares. Our consolidated investment portfolio has evolved to incorporate a diverse mix of residential, business purpose and multifamily investments. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. Since going public in 1994, we have managed our business through several cycles, built a track record of innovation, and a best-in-class reputation for service and a common-sense approach to credit investing. Redwood Trust is internally managed and structured as a real estate investment trust ("REIT") for tax purposes. For more information about Redwood Trust, visit our website at www.redwoodtrust.com or connect with us on LinkedIn, Twitter, or Facebook.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Our events may differ from our beliefs, expectations, and plans and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "expect," "believe," "intend," "seek," "plan" and similar expressions or their negative forms, or by references to expectations, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2020 under the caption "Risk Factors." We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT
Lisa Hartman – SVP, Head of Investor Relations
Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com
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SOURCE Redwood Trust, Inc.
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