Ellington Financial LLC announced the appointment of Lisa Mumford, the Company’s former Chief Financial Officer, to its Board of Directors (the “Board”), effective immediately. In conjunction with Ms. Mumford’s appointment, Michael W. Vranos, Co-Chief Investment Officer of the Company, will step down from the Board. Mr. Vranos will continue to serve as Co-CIO as well as Chief Executive Officer of EFC’s external manager, Ellington Financial Management LLC, and Ellington Management Group, L.L.C.
“We are thrilled to welcome Lisa to our Board,” said Thomas Robards, Chairman of the Board of EFC. “In the years we worked with her as CFO we were consistently impressed with her intelligence and integrity, and we know that she will bring those qualities to the Board. We will continue to benefit from Mike’s investment insights as Co-CIO of EFC and CEO of our manager. Just as importantly, Mike sets the tone at the top that encourages the thoughtfulness and integrity of Ellington’s people and processes.”
“Lisa’s intimate knowledge of EFC and substantial experience in the financial services industry make her the ideal fit for our Board. EFC flourished under Lisa’s leadership as CFO, and we will leverage her deep understanding of the Company and financial accounting, as we continue to drive the Company forward,” said Laurence Penn, Chief Executive Officer of EFC.
Mr. Vranos added, “I will remain as active as ever in the business as Co-CIO, and am excited about EFC’s current positioning and the investment opportunities we’re seeing. It’s great to have Lisa back on the team, now as a director, whose skillset, business savvy, and knowledge of EFC will prove invaluable as the Company continues to evolve.”
Ms. Mumford concluded, “Having worked at EFC for nearly a decade, I am excited to take on this new role as director, working alongside Board and management team members I not only know well, but also respect tremendously.”
Ms. Mumford served as CFO of EFC from October 2009, seeing the Company through its initial public offering in 2010, and managing all of the Company’s accounting, internal control, and financial reporting processes until her retirement in March 2018. Ms. Mumford also previously served as CFO of Ellington Residential Mortgage REIT (NYSE: EARN) from April 2013 to March 2018.
Prior to joining Ellington, Ms. Mumford served as CFO of ACA Financial Guaranty Corporation. Previously, she was Chief Accounting Officer of ACA Capital Holdings, Inc., and before that was CFO and Controller of ACE Guaranty Corp. She began her career at Coopers & Lybrand in 1984. Ms. Mumford is a member of the American Institute of Certified Public Accountants and holds a B.B.A. in Accounting from Hofstra University.