Colony Credit Real Estate Announces Appointment of New Chief Financial Officer and Treasurer
LOS ANGELES--(BUSINESS WIRE)--Colony Credit Real Estate, Inc. (NYSE: CLNC) (the “Company”) today announced the appointment of Frank V. Saracino as Chief Financial Officer and Treasurer of the Company, effective January 1, 2021.
The Board of Directors of the Company have unanimously approved the appointment of the Company’s Chief Accounting Officer, Frank V. Saracino, 54, as Chief Financial Officer and Treasurer of the Company. Mr. Saracino will continue as the Chief Accounting Officer of the Company. “We are fortunate to have Frank elevate in his role and continue to provide comprehensive financial, accounting and reporting leadership and experience to the Company,” said Michael J. Mazzei, Chief Executive Officer and President. “I’d also like to thank Neale Redington for his able leadership, as he’s been a valuable part of our team and I wish him the best in his future role at Colony Capital.”
Mr. Saracino serves as Managing Director at Colony Capital where his responsibilities include financial accounting and reporting for certain Colony Capital managed real estate investment trusts and vehicles as Chief Financial Officer. Prior to joining a predecessor of the Colony business in 2015, Mr. Saracino was a managing director with Prospect Capital Corporation where he served from inception as Chief Financial Officer of its real estate investment trust subsidiaries and registered closed-end investment companies. From 2008 to 2012, Mr. Saracino was a Managing Director and America’s co-head of finance at Macquarie Group, and 2004 to 2008 he was Chief Accounting Officer of eSpeed, Inc., a publicly-traded subsidiary of Cantor Fitzgerald. Mr. Saracino started his career at Coopers & Lybrand where he earned a CPA, and subsequently worked in corporate finance at Deutsche Bank. Mr. Saracino holds a Bachelor of Science degree from Syracuse University.
Effective January 1, 2021, Neale W. Redington resigned from all positions at the Company, including Mr. Redington’s position as Chief Financial Officer and Treasurer of the Company, to transition to Chief Financial Officer of Colony Capital’s non-digital business segments.
About Colony Credit Real Estate, Inc.
Colony Credit Real Estate (NYSE: CLNC) is one of the largest publicly traded commercial real estate (CRE) credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE debt investments and net leased properties predominantly in the United States. CRE debt investments primarily consist of first mortgage loans, which we expect to be the primary investment strategy. Colony Credit Real Estate is externally managed by a subsidiary of leading global digital real estate and investment management firm, Colony Capital, Inc. Colony Credit Real Estate is organized as a Maryland corporation and taxed as a REIT for U.S. federal income tax purposes. For additional information regarding the Company and its management and business, please refer to www.clncredit.com.