Sector developments and company hires

CFO appointed
Annaly Capital Management has appointed Serena Wolfe as cfo and a member of its operating committee. Glenn Votek, the company’s cfo and interim ceo and president (SCI 21 November), has stepped down from his role as cfo. Wolfe most recently served as a partner at Ernst & Young since 2011 and as its Central Region Real Estate Hospitality & Construction leader from 2017 to November 2019, managing the go-to-market efforts and client relationships across the sector. She has practiced with EY for over 20 years, working in a variety of industries, including real estate, manufacturing and technology.

CLO manager acquisition
First Eagle Investment Management has acquired THL Credit Advisors, complementing its alternative credit platform across both tradable credit and middle-market direct lending. THL Credit had approximately US$17bn in assets under management (as of 30 September) and, upon completion of the acquisition, First Eagle’s alternative credit platform will represent approximately US$23bn in assets under management and advisement. THL Credit ceo Chris Flynn will become president of the combined platform, reporting to First Eagle ceo Mehdi Mahmud, with THL Credit’s cio Jim Fellows becoming cio of the combined platform. Tim Conway, founder of the business that ultimately became First Eagle Private Credit, will remain with the combined platform as vice chairman.