Dynex Capital named Michael Sartori as chief financial officer effective February 27, 2026. Sartori, who has served the company since 2013 and has led its capital‑markets and financial‑planning functions since 2019, will replace Robert Colligan in the role. The transition follows a period of aggressive capital deployment, during which Dynex has used its liquidity to acquire $5.2 billion of agency mortgage‑backed securities and $882 million of agency CMBS over the past nine months.
Sartori’s appointment underscores Dynex’s focus on internal talent development and continuity. He played a key role in a $776 million equity raise that helped fund the company’s recent portfolio expansion, and his deep experience in capital markets is expected to support ongoing equity and debt financing initiatives that underpin Dynex’s growth strategy.
Colligan will remain in an advisory capacity through May 1, 2026. In a statement, he said, "It has been a privilege to serve as Dynex's CFO and play my part in executing on our proven strategy that delivers top‑tier returns. I am proud of the track record of dividend payments to shareholders and the growth in our capital base, and I look forward to seeing all that the team accomplishes in the years ahead." He added, "Mike has done a spectacular job growing the capital base of the Company and I am personally excited for him in his new role."
Sartori expressed his enthusiasm for the new role, stating, "It is an honor to be appointed CFO, particularly at this exciting time of growth and positive momentum for our Company. When I joined Dynex over a decade ago, I was excited to join an innovative, resilient company at the intersection of capital markets and real estate finance. This is an incredible business with an exceptional team, and I look forward to playing an even greater role in executing our strategy and generating value for shareholders." Co‑CEO and President Smriti Laxman Popenoe added, "2025 was a strong year for Dynex."
The CFO transition signals Dynex’s confidence in its current strategy and its commitment to disciplined risk management. By promoting an internal candidate with deep knowledge of the firm’s financial structure, the company aims to sustain its aggressive growth while maintaining capital efficiency and preserving its competitive edge in the mortgage‑REIT market.
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