DALLAS--(BUSINESS WIRE)-- Capstead Mortgage Corporation (NYSE: CMO) (“Capstead” or the “Company”) announced today that it has appointed Lance J. Phillips as Senior Vice President, Chief Financial Officer (“CFO”) and Secretary.
Phil Reinsch, President and Chief Executive Officer, commented, “We are very pleased to have Lance joining our team as our Senior Vice President, CFO and Secretary. His leadership experience and financial acumen will be an invaluable asset to the Company as he assumes these roles. We look forward to working with Lance in the months and years to come.”
Mr. Phillips joins Capstead from Hunt Utility Services, LLC, the external manager to InfraREIT, Inc., where most recently he served as Vice President, Principal Accounting Officer and Controller of InfraREIT. Mr. Phillips has served in various executive capacities with the Ray L. Hunt family of companies since 2010, after beginning his career at Arthur Andersen, LLP as a member of the audit and advisory services group. Mr. Philips is a certified public accountant.
Formed in 1985 and based in Dallas, Texas, Capstead is a self-managed real estate investment trust for federal income tax purposes. The Company earns income from investing in a leveraged portfolio of residential adjustable-rate mortgage pass-through securities issued and guaranteed by government-sponsored enterprises, either Fannie Mae, Freddie Mac, or by an agency of the federal government, Ginnie Mae.
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Capstead Mortgage Corporation
Lindsey Crabbe, 214-874-2339
Source: Capstead Mortgage Corporation