New York Mortgage Trust, Inc. (the "Company") announced its Board of Directors has appointed Michael Clement as a Director of the Company, effective immediately. Mr. Clement has also been appointed to serve as a member of the Board’s Audit, Compensation and Nominating and Corporate Governance Committees.
Commenting on the announcement, Steven R. Mumma, the Chairman of the Company’s Board of Directors and Chief Executive Officer, stated, “We are excited to welcome Kevin [Donlon] and Michael to the Board. Michael is a highly regarded thought leader in the accounting arena who also has significant experience working with financial institutions and financial market participants. His wealth of knowledge in economics, finance and accounting will be of great benefit to the Company and Board.” Alan L. Hainey, lead independent director, added "We are excited about the additions of Kevin and Michael. Michael brings significant accounting expertise and an additional independent voice to the board, while Kevin brings a strong strategic mind and the knowledge of an area of significant focus for the Company."