Leadership shift at Invesco Mortgage Capital (IVR) as Collins becomes CEO
Rhea-AI Filing Summary
Invesco Mortgage Capital Inc. announced that Chief Executive Officer John M. Anzalone will retire effective April 30, 2026, and will remain in an advisory role through October 1, 2026 to support the transition. The Board appointed Kevin M. Collins, age 46 and the Company’s President since 2017, as the new Chief Executive Officer effective May 1, 2026. The Board also appointed David Lyle, age 47 and Chief Operating Officer since 2017, as President effective May 1, 2026. Both leaders have been involved with the Company since 2009 and also serve as Co-Heads of Structured Investments for Invesco Fixed Income. The Company notes there are no special arrangements, family relationships, or related-party transactions tied to these appointments and no new material plans or contracts for Collins or Lyle at this time. The press release also highlights that Invesco Mortgage Capital recently shifted from quarterly to monthly dividend distributions to better align with income investors and provide stockholders with more frequent portfolio, book value, and leverage updates.
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Insights
Planned CEO succession with internal promotions signals continuity in leadership.
The Company is implementing a structured leadership transition as long-time CEO John Anzalone retires. Successors Kevin Collins and David Lyle have deep tenure at Invesco Mortgage Capital and Invesco Fixed Income, which supports operational continuity in a specialized mortgage REIT business.
The filing explicitly states there are no special arrangements, family relationships, or related-party transactions linked to their promotions. That reduces potential governance concerns around conflicts of interest. The shift described toward monthly dividend distributions and more frequent portfolio and leverage updates is framed as strengthening engagement with income-focused investors, though actual financial effects will depend on future performance and capital markets conditions.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CEO retirement effective date: April 30, 2026
New CEO effective date: May 1, 2026
Advisory role end date: October 1, 2026
+2 more
5 metrics
CEO retirement effective date
April 30, 2026
John M. Anzalone retires as Chief Executive Officer
New CEO effective date
May 1, 2026
Kevin M. Collins becomes Chief Executive Officer
Advisory role end date
October 1, 2026
John M. Anzalone expected to advise through this date
Kevin Collins age
46
Age of incoming Chief Executive Officer
David Lyle age
47
Age of incoming President
Key Terms
Cumulative Redeemable Preferred Stock, emerging growth company, mortgage-backed securities, forward-looking statements, +1 more
5 terms
Cumulative Redeemable Preferred Stock financial
"7.50% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock"
Cumulative redeemable preferred stock is a type of investment that gives shareholders priority over common stockholders to receive dividends and get their money back if the company is sold or closes. If the company misses dividend payments, it must pay them later before any dividends can go to other shareholders. This makes it a more secure and flexible option for investors seeking steady income with some ability to redeem their shares in the future.
emerging growth company regulatory
"Emerging growth company On April 13, 2026, John M."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
mortgage-backed securities financial
"focuses on investing in, financing and managing mortgage-backed securities and other mortgage-related assets."
A mortgage-backed security is an investment made by pooling many home loans and selling the right to the borrowers’ monthly payments to investors, so you receive a stream of principal and interest much like collecting payments on a bundle of IOUs. It matters to investors because it provides regular income but carries risks from homeowners missing payments or paying off loans early, and its value moves with interest rates and housing market conditions.
forward-looking statements regulatory
"This press release may include statements and information that constitute “forward-looking statements” within the meaning"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
real estate investment trust financial
"Invesco Mortgage Capital Inc. is a real estate investment trust that primarily focuses"
A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What leadership changes did Invesco Mortgage Capital (IVR) announce in this 8-K?
Invesco Mortgage Capital announced CEO John M. Anzalone will retire April 30, 2026. President Kevin M. Collins becomes Chief Executive Officer and Chief Operating Officer David Lyle becomes President, both effective May 1, 2026, providing an internal, experience-based succession plan.
When will Invesco Mortgage Capital’s CEO transition become effective for IVR?
John M. Anzalone retires as CEO effective April 30, 2026. Kevin M. Collins assumes the Chief Executive Officer role on May 1, 2026, while Anzalone remains in an advisory role to the Company through October 1, 2026 to support a smooth transition.
Who is Kevin Collins, the new CEO of Invesco Mortgage Capital (IVR)?
Kevin M. Collins, age 46, has served as President of Invesco Mortgage Capital since 2017 and has been involved with the Company since 2009. He is also Co-Head of Structured Investments for Invesco Fixed Income, with extensive experience in mortgage securitization and structured finance.
Who is David Lyle, the new President of Invesco Mortgage Capital (IVR)?
David Lyle, age 47, becomes President on May 1, 2026 after serving as Chief Operating Officer since 2017. He has over 20 years of experience in securitized markets, has been involved with the Company since 2009, and is Co-Head of Structured Investments for Invesco Fixed Income.
Did Invesco Mortgage Capital (IVR) outline any new compensation plans for Kevin Collins or David Lyle?
As of the time of this report, the Company states it has not entered into any material plans, contracts, arrangements, or material amendments involving Kevin Collins or David Lyle in connection with their appointments, indicating compensation details are unchanged in this specific disclosure.
How did Invesco Mortgage Capital (IVR) change its dividend distribution approach?
Invesco Mortgage Capital recently transitioned from quarterly to monthly dividend distributions. The Company explains this shift is intended to better match income investors’ cash-flow needs and give stockholders more frequent updates on portfolio, book value, and leverage metrics each month.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 13, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (404 ) 892-0896
n/a
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
On April 13, 2026, John M. Anzalone, Chief Executive Officer of Invesco Mortgage Capital Inc. (the “Company”), notified the Company of his retirement as our Chief Executive Officer, effective April 30, 2026, in connection with his planned retirement from his employment with Invesco Ltd. Mr. Anzalone is expected to provide support for the transition in an advisory role to the Company until October 1, 2026.
On April 13, 2026, our Board of Directors appointed Kevin M. Collins, 46, as our Chief Executive Officer, effective May 1, 2026. Mr. Collins had served as our President since 2017. Previously, he served as our Executive Vice President Commercial Mortgage Credit from March 2017 to October 2017 and as a Managing Director and our Head of Commercial Mortgage Credit from 2011 to March 2017. He is also the Co-Head of Structured Investments for Invesco Fixed Income. Prior to joining Invesco in 2007, Mr. Collins structured various capital funding strategies, including bond securitizations and secured lending facilities, for banks, Real Estate Investment Trusts, and specialty finance companies during his tenure at Credit Suisse First Boston. Mr. Collins began his career in the New York-based structured finance advisory services practice at Ernst & Young, focusing on structured product cash flow modeling and collateral analytics. Mr. Collins graduated with a B.S. in accounting from Florida State University and earned an M.B.A. from the Kellogg School of Management at Northwestern University.
Also on April 13, 2026, the Board appointed David Lyle, 47, as our President, effective May 1, 2026. Mr. Lyle had served as our Chief Operating Officer since 2017. Prior to that, he served as our Executive Vice President Residential Credit from March 2017 to October 2017 and as our Head of Residential Mortgage Credit from 2011 to March 2017. He is also the Co-Head of Structured Investments for Invesco Fixed Income. Mr. Lyle has over 20 years of experience in securitized markets. Prior to joining Invesco in 2006, Mr. Lyle spent three years at Friedman Billings Ramsey, where he was a Vice President in the Investment Banking ABS group. In this role, he participated in the financing, transaction management and analytics functions of the business. He also spent two years as an Analyst in the mortgage finance group at Wachovia Securities. Mr. Lyle graduated with a bachelor of engineering degree from Vanderbilt University
As of the time of the filing of this report, the Company has not entered into any material plans, contracts or arrangements to which Mr. Collins or Mr. Lyle is a party or in which either of them participate, or any material amendment, in connection with the appointments described above. There is no arrangement or understanding between Mr. Collins and any other persons pursuant to which he was selected as Chief Executive Officer. There is no arrangement or understanding between Mr. Lyle and any other persons pursuant to which he was selected as President. There are no family relationships between Mr. Collins or Mr. Lyle and any of the Company’s directors, executive officers or other key personnel reportable under Item 401(d) of Regulation S-K. There are no related party transactions between the Company and Mr. Collins or the Company and Mr. Lyle. reportable under Item 404(a) of Regulation S-K.
| Item 7.01 | Regulation FD Disclosure. | ||||
On April 14, 2026, the Company issued a press release announcing the retirement of Mr. Anzalone and the appointments of Mr. Collins as Chief Executive Officer and Mr. Lyle as President, which is furnished as Exhibit 99.1.
The information furnished under this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. | ||||
| (d) | Exhibits. | |||||||
Exhibit No. | Description | |||||||
| 99.1 | Press Release, dated April 14, 2026, issued by Invesco Mortgage Capital Inc. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Invesco Mortgage Capital Inc.
By: /s/ Tina Carew
Tina Carew
Vice President, General Counsel and Secretary
Date: April 14, 2026
Exhibit 99.1
Invesco Mortgage Capital Names Kevin Collins Chief Executive Officer and David Lyle President
Investor Relations Contact: Gregory Seals, 404-439-3323
Atlanta – April 14, 2026 — Invesco Mortgage Capital Inc. (the “Company”) (NYSE: IVR) today announced that President Kevin Collins will assume the role of Chief Executive Officer, effective May 1, 2026. Mr. Collins will succeed John Anzalone, who is retiring from the Company effective April 30 after an impactful nine-year tenure as CEO. To assist in the transition, Mr. Anzalone is expected to remain in an advisory role to the Company through October 1. Mr. Collins is a seasoned veteran of the mortgage securitization markets and has served in several capacities with the Company, dating back to his key role in its formation in 2009. He has served as President since 2017 and worked alongside Mr. Anzalone and the management team for the entirety of his tenure. He is also the Co-Head of Structured Investments for Invesco Fixed Income.
David Lyle will assume the role of President, also effective May 1. Mr. Lyle has served as Chief Operating Officer since 2017 and has been involved in the management of the Company since 2009. He is also the Co-Head of Structured Investments for Invesco Fixed Income with over 20 years of experience in securitized markets.
“I’m pleased to assume the role of CEO and look forward to building on the foundation that John and the management team have established,” said Mr. Collins. “John successfully guided Invesco Mortgage Capital through multiple market cycles and our transition to an agency-focused strategy. David and I look forward to continuing this momentum, alongside Brian Norris, our Chief Investment Officer and Mark Gregson, our Chief Financial Officer, with a commitment to disciplined investment management, consistent performance, and strengthened investor engagement.”
Invesco Mortgage Capital has recently taken steps to further promote alignment with investors, including transitioning this year from quarterly to monthly dividend distributions. In addition to better meeting the cash-flow needs of income investors, this new approach affords the Company an opportunity to provide stockholders with monthly touchpoints, including portfolio, book value, and leverage updates.
“We are excited for Kevin and the management team to lead the Company through its next phase of growth. Their deep understanding of the mortgage REIT industry and extensive investment expertise, together with longstanding relationships with key counterparties and investors, uniquely qualify them to provide strategic leadership to the Company and foster meaningful engagement with stockholders,” said Don Liu, Chair of the Invesco Mortgage Capital Board of Directors. “As we welcome a new CEO, we sincerely thank John for his leadership and his valuable contributions to Invesco Mortgage Capital.”
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust that primarily focuses on investing in, financing and managing mortgage-backed securities and other mortgage-related assets. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Advisers, Inc., a registered investment adviser and an indirect, wholly-owned subsidiary of Invesco Ltd., a leading independent global investment management firm. Additional information is available at www.invescomortgagecapital.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release may include statements and information that constitute “forward-looking statements” within the meaning of the U.S. securities laws as defined in the Private Securities Litigation Reform Act of 1995, and such statements are intended to be covered by the safe harbor provided by the same. Words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,” “could,” “should,” and “would” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements.
Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks identified under the captions “Risk Factors,” “Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov.
All written or oral forward-looking statements that we make, or that are attributable to us, are expressly qualified by this cautionary notice. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.