Exiting leader will transition to a senior advisory position in the firm
Angel Oak Mortgage, a REIT focused on non-QM loans, has officially named Sreeni Prabhu (pictured) as its new president and CEO. He will replace Robert Williams, who will continue to serve in a senior advisory role for the company until the first quarter of 2023.
Prabhu co-founded the company’s investment management arm, Angel Oak Capital Advisors, in 2008. He currently serves as managing partner and chief investment officer of the group. Prabhu will retain these responsibilities in addition to assuming his new roles at Angel Oak Mortgage.
Commenting on the appointment, chairman of the board Michael Fierman said: “I have worked side-by-side with Sreeni for more than 14 years, and believe his investment and operational experience, leadership, and strategic vision will help drive the company’s success in the years to come. After the successful completion of the company’s initial public offering in 2021 and its first full year as a public company, the board believes that now is the right time to make this leadership transition. We want to acknowledge Robert’s hard work and contributions to our growth and successful launch of the company as a publicly-traded REIT, and we wish him well in the future.”
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“I am excited to assume the role of chief executive officer and president of Angel Oak Mortgage REIT,” Prabhu said. “I have, along with the full team, helped advance Angel Oak Capital’s significant growth over the last 14 years into an entity that has pioneered a new mortgage market opportunity and delivered attractive risk-adjusted returns for our investors.
“As a team, we have the experience and capabilities to succeed in any environment, and these attributes align directly with the company’s strategic goals. I look forward to my expanded role within the company, and we are fully committed to growing the company through the execution of our consistent strategy of underwriting and managing credit risk, judiciously utilizing the securitization market and prudent leverage. We look forward to reporting our achievements to our shareholders as we move ahead.”
