NEW YORK, July 2 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE:
SFI), a leading publicly traded finance company focused on the commercial real
estate industry, announced today the retirement of Tim O'Connor, executive
vice president and chief operating officer, as well as the appointments of a
new chief accounting officer and a new independent member of its Board of
After serving as both a leader and mentor over the past 10 years at iStar,
O'Connor retired effective June 30 to pursue a passion for teaching and will
become a high school teacher and coach. Jay Nydick, iStar's President, will
assume O'Connor's responsibilities.
Tim has been an exceptional leader and will leave a lasting, positive
imprint on our company, said Jay Sugarman, iStar's chairman and chief
executive officer. His decision to start a new career teaching high school
students is a fitting reflection of his interest in putting his talents and
energy to work for others.
The Company also announced that as of June 30, David DiStaso has assumed
the role of chief accounting officer. DiStaso comes to iStar from CIT Group
Inc., where for the past six years he has been chief financial officer and
controller of the Consumer Finance Division. DiStaso joined CIT in 1996 after
serving as a senior manager at KPMG. DiStaso holds a B.S. in accounting from
Rutgers University and is a Certified Public Accountant.
We are pleased to have someone with David's strong accounting, financial
and managerial experience joining us in this key role, said Catherine D.
Rice, iStar's chief financial officer.
The Company also said that on July 1, Ms. Dale Anne Reiss was elected to
join the Board of Directors of iStar as an independent director, and will also
serve as a member of the Board's Audit Committee. Reiss was a senior partner
at Ernst & Young LLP from 1995 through 2008, and a managing partner at its
predecessor, Kenneth Leventhal & Company, from 1985 through its merger with
Ernst & Young in 1995. Reiss is a Certified Public Accountant and received a
B.S. degree in economics and accounting from the Illinois Institute of
Technology and an M.B.A. degree from the University of Chicago.
Dale brings to our Board additional knowledge and insight, along with her
well-earned reputation for leadership in our industry, said Sugarman. Dale
is a respected professional with over 25 years of financial, accounting and
real estate experience and we welcome her as our newest independent director.
iStar Financial Inc. is a leading publicly traded finance company focused
on the commercial real estate industry. The Company primarily provides
custom-tailored investment capital to high-end private and corporate owners of
real estate, including senior and mezzanine real estate debt, senior and
mezzanine corporate capital, as well as corporate net lease financing and
equity. The Company, which is taxed as a real estate investment trust
(REIT), seeks to deliver strong dividends and superior risk-adjusted returns
on equity to shareholders by providing innovative and value added financing
solutions to its customers. Additional information on iStar Financial is
available on the Company's website at www.istarfinancial.com.
SOURCE iStar Financial Inc.
Catherine D. Rice, Chief Financial Officer
Andrew G. Backman, Senior Vice President - Investor Relations
both of iStar Financial Inc.
Web site: http://www.istarfinancial.com