Annaly Capital Management (NLY) said Monday that Co-founder, Chairman and CEO Michael A.J Farrell had passed. Farrell had been diagnosed with cancer earlier this year, and was 61 years of age.

Bloomberg first reported on this story over the weekend. The company issued an official statement confirming that Farrell had passed this morning.

“He was a fantastic leader and friend and will be greatly missed,” the statement read. “Our hearts go out to his family and all those who were fortunate enough to know him.”

Farrell had been diagnosed with cancer early this year, and in May, the company disclosed his cancer had gone into remission. This month, the company had named ()

Bloomberg notes that Farrell built Annaly into the world’s largest mortgage real estate investment trust, which has returned more than 600 percent to shareholders since its initial public offering.

Read more here.

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Co-living startup Bungalow raises $47 million, including investment from Alex Rodriguez

Real estate startup Bungalow launched last year, offering a unique solution for finding affordable housing in some of the nation’s most expensive housing markets. Now, the company has raised $47 million from various investors, including A-Rod Corp., the investment firm founded and led by former MLB star Alex Rodriguez.

Nov 18, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please