Former U.S. Treasury TARP Investment Chief Joins Senior Management Team of Two Harbors Investment Corp.
NEW YORK--(BUSINESS WIRE)-- Two Harbors Investment Corp. (NYSE: TWO; NYSE Amex: TWO.WS) announced today that David N. Miller has joined Pine River Capital Management L.P. as a Managing Director, where he will have responsibility over business development and strategic initiatives for Two Harbors Investment Corp.
Mr. Miller most recently served as Chief Investment Officer for the Office of Financial Stability at the U.S. Department of Treasury, where he was responsible for managing the investment portfolio for the $700 billion Troubled Asset Relief Program (TARP). Mr. Miller's oversight included the creation, evaluation and execution of the U.S. Treasury's transactions and investments programs, including a complex, multi-hundred billion dollar portfolio of liquid and illiquid assets. Earlier this year, Mr. Miller was awarded the Treasury Medal by Treasury Secretary Timothy Geithner in recognition of his distinguished service and exceptional leadership.
Prior to joining the U.S. Department of Treasury in 2008, Mr. Miller managed equity investments for HBK Capital Management, a multi-strategy hedge fund. From 1998 through 2007, Mr. Miller held various positions at Goldman, Sachs & Co., including Vice President, Special Situations Group, where he was a Senior Investment Analyst for the Multi-Strategy Investing Group which focused on generating attractive risk adjusted returns across a variety of asset classes.
Mr. Miller has a Masters of Business Administration from Harvard Business School and a Bachelor of Arts degree in Economics from Dartmouth College.
"David is an outstanding addition to our senior management team," said Thomas Siering, Two Harbors' President and Chief Executive Officer. "He brings a wealth of experience and knowledge gained through his distinguished career in both the private and public sectors. His expertise will be invaluable to Two Harbors as we continue to capitalize on growth opportunities in the mortgage REIT sector."
"I am very excited to join Two Harbors," said Mr. Miller. "The changing dynamics in the mortgage market are creating many new opportunities for mortgage REITs. Two Harbors is well positioned to capitalize on them with a seasoned team of mortgage industry veterans. I look forward to working with the Two Harbors team to evaluate new opportunities and develop strategies that will generate attractive returns for our shareholders."
About Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, residential mortgage loans and other financial assets. Two Harbors is headquartered in Minnetonka, Minnesota, and is externally managed and advised by PRCM Advisers, LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.
Additional Information
Stockholders and warrant holders of Two Harbors, and other interested persons, may find additional information regarding the company at the Securities and Exchange Commission's Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 601 Carlson Parkway, Suite 330, Minnetonka, MN 55305, telephone 612-238-3300.
Source: Two Harbors Investment Corp.
Released July 21, 2011
