SOURCE: Apollo Residential Mortgage, Inc.

Apollo Residential Mortgage, Inc.

December 12, 2013 08:30 ET

Apollo Residential Mortgage, Inc. Announces the Appointment of Teresa Covello to Chief Financial Officer

NEW YORK, NY--(Marketwired - Dec 12, 2013) - Apollo Residential Mortgage, Inc. (the "Company") (NYSE: AMTG) today announced the Board of Directors appointed Teresa Covello to the positions of Chief Financial Officer, Secretary and Treasurer of the Company effective January 1, 2014. Ms. Covello will assume these titles from Stuart Rothstein, who will step down from these positions effective January 1, 2014 and will retain his role as a member of the investment committee of ARM Manager, LLC (the "Manager"), the external manager of the Company. Ms. Covello currently serves as the Controller of the Manager, a position she has held since she joined Apollo Global Management, LLC (together with its subsidiaries, "Apollo"), the indirect parent of the Manager, in 2012. 

"Stuart has provided invaluable leadership and guidance to AMTG since the Company went public in 2011, while at the same time serving in several different roles at Apollo," said Michael Commaroto, Chief Executive Officer and President of the Company. "When we hired Teresa in 2012 as Controller, our plan was to transition her, under Stuart's guidance, into the Chief Financial Officer position so Stuart could focus on his other responsibilities within Apollo, including Chief Executive Officer of Apollo Commercial Real Estate Finance, Inc. and Chief Operating Officer of the global real estate platform. Teresa has been instrumental in building out AMTG's finance and accounting operations and we are confident her leadership will benefit the Company and our shareholders as we continue to grow our business."

Ms. Covello has significant experience in the residential mortgage real estate investment trust ("REIT") industry. From 2003 through 2011, Ms. Covello was the Senior Vice President, Chief Accounting Officer and Treasurer of MFA Financial, Inc., a residential mortgage REIT she joined in 2001. Prior to MFA Financial, Ms. Covello was a financial consultant, concentrating in investment banking within the financial services sector and from 1990 through 2000, she held progressive positions with JSB Financial, Inc. Ms. Covello began her career in public accounting with KPMG Peat Marwick (predecessor to KPMG LLP). She is a Certified Public Accountant licensed in New York State and holds a Bachelor of Science degree in Public Accounting from Hofstra University. 

About Apollo Residential Mortgage, Inc.
Apollo Residential Mortgage, Inc. is a real estate investment trust that invests in and manages residential mortgage-backed securities and other residential mortgage assets throughout the United States. The Company is externally managed and advised by ARM Manager, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, LLC (NYSE: APO), a leading global alternative investment manager with approximately $113 billion of assets under management at September 30, 2013.

Additional information can be found on the Company's website at

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include information about possible or assumed future results of the Company's business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

    Hilary Ginsberg
    Investor Relations
    (212) 822-0767