Chimera Investment Corporation and Annaly Capital Management Inc. jointly announced that, effective August 5, 2015, Chimera is internalizing its management function. The independent directors on Chimera's Board agreed to the internalization with Annaly in order to accelerate growth and realize cost efficiencies. Chimera will continue to be led by its key professionals including President and Chief Executive Officer Matthew Lambiase, Chief Financial Officer Rob Colligan and Chief Investment Officer Mohit Marria.

In addition, Chimera's head of structured products, Choudhary Yarlagadda, was appointed Chief Operating Officer and Phillip J. Kardis II, a partner at the law firm K&L Gates LLP, was appointed General Counsel. All other personnel that focus their efforts on Chimera's business became employees of Chimera.