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Western Asset Mortgage Capital Corporation Appoints Harris Trifon As Chief Investment Officer And Sean Johnson As Deputy Chief Investment Officer

PASADENA, Calif., May 6, 2019 /PRNewswire/ -- Western Asset Mortgage Capital Corporation (WMC) (the "Company" or "WMC") today announced that The Board of Directors of the Company (the "Board") has appointed Harris Trifon as the new Chief Investment Officer ("CIO") and Sean Johnson as Deputy Chief Investment Officer of WMC, effective May 3, 2019. 

Mr. Trifon currently serves as Co-Head of Mortgage and Consumer Credit at Western Asset Management Company, LLC, the Company's manager ("Western Asset"), and has more than 19 years of investment experience. Prior to joining Western Asset in 2014, he served as Director of Fixed-Income Research with Deutsche Bank, where he was Global Head of CRE Debt and US ABS Research Teams. From 2006-2009, he served as Director of Structured Finance with Standard & Poor's, where he was a Portfolio Manager and Team Leader for all Conduit, Fusion, Single Borrow, Large Loan fixed-rate and Small Balance transactions.

Mr. Trifon has a Master of Science in Real Estate/Finance from New York University and a Bachelor of Arts in Economics from the University of Florida. He is also on the boards of the Commercial Real Estate Finance Council (CREFC), and the University of Florida's Bergstrom Center for Real Estate, and he was voted onto the Institutional Investor All-Star list the last two years prior to joining Western Asset.

Mr. Johnson, a Portfolio Manager in Western Asset's Mortgage and Consumer Credit group, recently served as Interim Co-Chief Investment Officer for the Company and has more than 30 years of investment management experience, including the last 24 years with Western Asset. Mr. Johnson has been an integral part of the Company's investment team and strategy since its initial public offering in 2012 and has deep expertise in residential mortgages and related derivative products as well as a strong understanding of the specialized needs of the Company's portfolio. Mr. Trifon and Mr. Johnson will work with the broader investment team of Western Asset to manage and source investments for the Company.

"We are pleased to welcome Harris as our new Chief Investment Officer," said Jennifer Murphy, Chief Executive Officer of the Company. "Harris has been a valuable member of the Mortgage and Consumer Credit team at Western Asset for five years and we look forward to his expertise in leading our investment team. His extensive experience managing credit-sensitive assets will be particularly valuable as we continue to increase our exposure to that asset class."

Murphy continued, "We are also pleased to promote Sean Johnson to the newly created position of Deputy CIO. Sean has been deeply involved in the strategy and management of the Company's portfolio since its inception, and his experience as our Interim Co-CIO, combined with his many years of experience managing mortgage-related investments, have proven to be invaluable to the Company."

"Western Asset's hallmark is its team-based investment approach," said James W. Hirschmann, Chairman of the Board. "We have a deep bench of talent to draw from for the leadership of WMC's investment strategies. We are pleased to welcome Harris and Sean to their expanded roles at the Company. They both have strong track records at Western Asset and in the investment management field, and are well suited to lead the investment team at WMC."

Western Asset Mortgage Capital Corporation is a real estate investment trust that invests in, acquires and manages a diverse portfolio assets consisting of Agency CMBS, Agency RMBS, Non-Agency RMBS, Non-Agency CMBS, ABS, GSE Credit Risk Transfer Securities and Residential Whole, Bridge Loans and Commercial Loans. The Company's investment strategy may change, subject to the Company's stated investment guidelines, and is based on its manager Western Asset Management Company, LLC's perspective of which mix of portfolio assets it believes provide the Company with the best risk-reward opportunities at any given time. The Company is externally managed and advised by Western Asset Management Company, LLC, an investment advisor registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Legg Mason, Inc. Please visit the Company's website at www.westernassetmcc.com.

This press release contains statements that constitute "forward-looking statements." Operating results are subject to numerous conditions, many of which are beyond the control of the Company, including, without limitation, changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; general economic conditions; market conditions; conditions in the market for mortgage related investments; and legislative and regulatory changes that could adversely affect the business of the Company; and other factors, including those set forth in the Risk Factors section of the Company's annual report on Form 10-K for the period ended December 31, 2018 filed with the Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.



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