OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Financial Inc. (NYSE: EFC)  announced that Dr. Ronald I. Simon, an Independent Director of the Company since 2007, has been appointed Chairman of the Board of Directors. Dr. Simon replaces Thomas F. Robards, who is stepping down from his role as Chairman and remains on the Board as an Independent Director. In addition, Stephen J. Dannhauser, the former chairman of Weil, Gotshal & Manges LLP, has been appointed to the Board as an Independent Director, effective immediately.

"We are pleased to announce that Ronald Simon will now serve as our Chairman of the Board. Ron has deep knowledge of the Company and has been an invaluable asset as a Director of the Company since its inception in 2007. We are also thrilled to welcome Stephen Dannhauser to our Board. Given Steve’s deep expertise in corporate law and his decades of experience advising corporate boards at Weil, we believe that he will add a valuable new perspective," said Laurence Penn, Chief Executive Officer of EFC.

Dr. Simon added, "I am honored to have been chosen to lead EFC’s Board. I look forward to working with the EFC Board and management team in this increased role, and I am committed to being a good steward for shareholders."

Mr. Dannhauser concluded, "I am extremely excited to join the Board of EFC. I believe that I can add value and an additional perspective to the Board as the Company continues to grow. I look forward to a bright future for EFC."

Prior to joining the Board, Mr. Dannhauser worked at Weil, Gotshal & Manges LLP (“Weil”) from 1975 until 2012. Mr. Dannhauser was named Weil’s executive partner in 1989 and served as its chairman from 2001 to 2012. Mr. Dannhauser continued to work at Weil in a consulting capacity through 2015. During his tenure at Weil, Mr. Dannhauser played a key role in crafting and executing business strategies that expanded Weil from its headquarters in New York to comprise 20 offices on three continents. During his tenure as chairman and executive partner, Mr. Dannhauser spent the bulk of his time overseeing the business operations of the firm, building its platform and expanding and deepening its client base. Mr. Dannhauser served as a director of Hydra Industries Acquisition Corp., a special purpose acquisition corporation, from October 2014 until December 2016. Mr. Dannhauser has been a member of the following organizations, committees and boards: The Fellows of the American Bar Foundation; Fellow of The New York Bar Foundation; ABA Law Firm Pro Bono Project Advisory Committee; The National Minority Business Council; NYC Bar Association Committee to Enhance Diversity; The Partnership for New York City; Chairman of the Board of Directors of The New York Police and Fire Widows’ and Children’s Benefit Fund; Chairman of the Board of Directors of Boys & Girls Harbor, Inc.; Member of the Board of Directors of Citizens Committee for New York City; Member of the Board of Directors of United Way of New York City; Advisory Board Member, New York Needs You; and Honorary Member of the Honor Legion of the Police Department of the City of New York. Mr. Dannhauser graduated from the State University of New York at Stonybrook (B.A. with honors, 1972), and from Brooklyn Law School (J.D. with honors in 1975), where he was a member and decisions editor of the Brooklyn Law Review (1973-1975). Mr. Dannhauser spends substantial time on various pro bono and philanthropic matters. We believe that Mr. Dannhauser is qualified to serve as a member of our board of directors due to his numerous directorship roles, leadership experience, and business industry contacts.

About Ellington Financial

Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.