NEW YORK, Dec. 10 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE:
SFI), a leading publicly traded finance company focused on the commercial real
estate industry, announced today that Catherine D. Rice, executive vice
president and chief financial officer, will retire in March of 2009 and James
D. Burns, iStar's executive vice president and treasurer, will be promoted to
CFO upon Rice's retirement next year.
After serving as a senior member of the management team at iStar since
2002, Rice is retiring to focus on family business interests. Burns has served
as executive vice president and treasurer of iStar Financial since 2006 and
has held the position of senior vice president and treasurer of iStar
Financial since 2003.
"Katy has been instrumental in our financial strategy and has provided
guidance and significant leadership to the Company over the past six years,"
said Jay Sugarman, iStar's chairman and chief executive officer. "She has
built a strong team of finance, accounting and investor relations
professionals, leaving the Company in highly capable hands. We respect Katy's
need to focus on family business interests and look forward to working with
Jim as he assumes his new role next March."
Prior to joining iStar Financial, Burns was global treasurer of Cantor
Fitzgerald. Mr. Burns also worked for Morgan Stanley in Hong Kong as treasurer
of the Asia-Pacific region and in New York as treasurer of the Americas
region. Previously, he held various positions in capital markets, capital
planning and cash management at PepsiCo, Inc. Burns received his M.B.A. in
Finance from Columbia University's Graduate School of Business and his A.B. in
Economics from Harvard College.
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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 http://www.istarfinancial.com.
SOURCE iStar Financial Inc.
Catherine D. Rice
Chief Financial Officer
Senior Vice President - Investor Relations
both of iStar Financial
Web Site: http://www.istarfinancial.com