Sunset Financial Names George Deehan President and Chief Operating Officer
08 Agosto 2005 - 3:00PM
PR Newswire (US)
JACKSONVILLE, Fla., Aug. 8 /PRNewswire-FirstCall/ -- Sunset
Financial Resources, Inc. (NYSE:SFO), today announced the
appointment of George Deehan, 62, to President and Chief Operating
Officer, effective immediately. A current member of Sunset
Financial's Board of Directors, Mr. Deehan will continue to serve
in that capacity. Mr. Deehan assumes the newly created position of
Chief Operating Officer and replaces Bert Watson as President of
Sunset Financial. Mr. Deehan will be based out of the Company's
headquarters in Jacksonville and report directly to Bert Watson,
who will continue as Chairman and CEO of Sunset Financial. A
40-year veteran of the financial services industry, Mr. Deehan was
the President and Chief Operating Officer, Information Technologies
Service for AT&T Capital Corporation. While at AT&T, he was
responsible for overseeing $1 billion in annual finance
opportunities. Previously, Mr. Deehan was President and Chief
Operating Officer of Litton Financial Services. In 1985, MetLife
acquired Litton, at which time he continued to serve as President
and Chief Operating Officer of MetLife Capital Credit Corporation
until 1991. While at MetLife, he managed net receivables of $1
billion and 150 employees. He also served as a member of the Board
of Directors of MetLife Capital Holdings, Inc. Commenting on the
appointment, Watson stated, "George brings to Sunset extraordinary
financial services experience and a strong track record of
successfully implementing and executing best practices across
leading organizations. As a young organization, we welcome George's
expertise and look forward to operating under his proven
leadership." Mr. Deehan also currently serves on the Board of
Directors of NYFIX Corporation, a Nasdaq-listed technology company,
where he chairs the Compensation Committee and is on the Audit
Committee; and at Technology Investment Partners, a private
financial leasing firm located in Detroit, Michigan. About Sunset
Financial Resources Sunset Financial Resources, Inc. is a
self-managed real estate investment trust (REIT) that went public
on March 17, 2004. Sunset Financial Resources seeks to deliver
attractive dividend income and steady growth to its shareholders
through the acquisition and management of a portfolio of high
quality residential mortgage loans and well secured commercial
mortgage bridge loans in the United States. Certain statements in
this news release may constitute "forward-looking statements"
within the meaning of the federal securities laws and involve
risks, uncertainties and other factors, which may cause the actual
performance of Sunset Financial Resources, Inc. to be materially
different from the performance expressed or implied by such
statements. These risks include the failure of the Company to
successfully execute its business plan, gain access to additional
financing, the availability of additional loan portfolios for
future acquisition, continued qualification as a REIT, the cost of
capital, as well as the additional risks and uncertainties detailed
in the Company's periodic reports and registration statements filed
with the Securities and Exchange Commission. DATASOURCE: Sunset
Financial Resources, Inc. CONTACT: Jeff Betros, EVP, Company
Secretary, Sunset Financial Resources, +1-904-425-4351, or ; or
Investors: Jeffrey Goldberger, +1-212-896-1249, , or Michael
Cimini, +1-212-896-1233, , both of KCSA Worldwide
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