Gerard Creagh
About Gerard Creagh
Gerard Creagh, age 67, is an independent Class I director of Chimera Investment Corporation (CIM) and has served on the board since April 1, 2010 . He is the independent Chairman of the Board and the roles of Chairman and CEO are separated at CIM . His background spans valuation and risk oversight: he is CEO of Brosnan Risk Consultants (private) since December 2023 (previously Chief Administrative Officer from December 2019), Managing Partner at CVC Advisers LLC since May 2011, and formerly President and a director of Duff & Phelps Corporation; he also held senior valuation leadership roles at Standard & Poor’s, PricewaterhouseCoopers, and Coopers & Lybrand . He holds B.S. and M.S. degrees in mechanical engineering (Manhattan College) and an MBA in finance (NYU Stern) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Duff & Phelps Corporation | President and Board Member | Sep 2005 – Apr 2010 | Led corporate operations and served on the board during period including integration of acquisitions; also served as President of Duff & Phelps Acquisitions, LLC (Sep 2005–Sep 2007) . |
| Standard & Poor’s Corporate Value Consulting | Executive Managing Director | Pre–Sep 2005 | Led S&P’s Corporate Value Consulting practice prior to its merger into Duff & Phelps; expertise in valuation and risk oversight . |
| PricewaterhouseCoopers | North American Valuation Services Practice Leader | Prior to S&P role | Led PwC’s North American Valuation practice (corporate finance/valuation leadership) . |
| Coopers & Lybrand | U.S. Leader, Valuation Practice | Prior to PwC/S&P roles | Led U.S. valuation practice (pre-merger predecessor to PwC) . |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Brosnan Risk Consultants (private) | Chief Executive Officer | Since Dec 2023; previously Chief Administrative Officer since Dec 2019 | Brosnan sold substantially all assets in Dec 2024; Creagh remains CEO of the surviving entity to manage remaining assets and liabilities . |
| CVC Advisers LLC | Managing Partner | Since May 2011 | Financial consulting firm leadership . |
Board Governance
- Board leadership: CIM separates the roles of CEO and Chairman; Mr. Creagh is the independent Chairman, providing strong independent oversight .
- Independence: The board affirmatively determined Mr. Creagh is independent under NYSE rules .
- Committees (2024 composition and activity):
- Compensation Committee: Member and Chair; 14 meetings in 2024 .
- Audit Committee: Member in 2024; rotated off April 1, 2025 and re-appointed April 11, 2025 (Mr. Reilly is Chair) .
- Nominating & Corporate Governance Committee: Member; 10 meetings in 2024 (Ms. Still is Chair) .
- Risk Committee: Not listed as a member; 5 meetings in 2024 .
- Board activity & engagement: The board met 21 times in 2024; all directors attended at least 75% of board and committee meetings held during their service; independent directors held 7 executive sessions in 2024, presided over by the Chairman .
- Related-party oversight: CIM maintains a robust Related Party Transactions Policy reviewed by the Audit Committee; if a director is involved, they recuse from approvals .
Fixed Compensation
| Component | Amount/Structure | Notes |
|---|---|---|
| Annual cash retainer (independent directors) | $100,000 | Paid quarterly; directors may elect to be paid in stock . |
| Annual equity retainer (RSUs) | $130,000 | RSUs with 1-year vesting; accrue dividend equivalents; granted on annual meeting date . |
| Board Chair cash fee | $120,000 | Additional annual cash fee for Board Chair . |
| Audit Committee Chair fee | $50,000 | Annual cash fee for committee chair . |
| Compensation Committee Chair fee | $25,000 | Annual cash fee for committee chair (also for Risk Chair) . |
| Nominating & Corporate Governance Chair fee | $25,000 | Annual cash fee for committee chair . |
| Committee membership fee (non-chair) | $10,000 | Per committee membership . |
Director compensation actually paid (calendar 2024):
| Director | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Gerard Creagh | $187,500 | $185,000 | $372,500 |
| Notes | Mr. Creagh elected to receive common stock in lieu of 50% of cash payments for Board fees during H1 2024 . |
Performance Compensation
| Program Feature | Details |
|---|---|
| Performance-based director pay | None disclosed; independent directors receive time-based RSUs that vest over 1 year (no disclosed performance metrics for director pay) . |
Other Directorships & Interlocks
- Other current public-company boards: The proxy biography does not disclose any current public-company directorships for Mr. Creagh .
- Compensation committee interlocks: None; the Compensation Committee (Creagh as Chair, with Chavers and Still) comprises independent directors with no interlocks disclosed under Item 404 .
Expertise & Qualifications
- Core credentials: Decades of valuation, corporate finance, and risk oversight experience; prior President and director at Duff & Phelps; senior valuation leadership at S&P, PwC, and Coopers & Lybrand .
- Education: B.S. and M.S. in mechanical engineering (Manhattan College) and MBA in finance (NYU Stern) .
- Board-relevant expertise: Oversight of risk management policies and procedures; experienced lead corporate executive; prior board experience .
Equity Ownership
| Item | Amount/Policy | Notes |
|---|---|---|
| Total beneficial ownership (common) | 138,127 shares (<1% of class) | Includes 64,534 vested deferred stock units (DSUs) that could be acquired within 60 days . |
| Vested DSUs included | 64,534 units | DSUs accrue dividend equivalents and settle in stock pursuant to deferral elections . |
| Director stock ownership guideline | Must retain vested equity until holdings exceed 3x cash portion of annual base retainer | Applies during board service. |
| Anti-hedging/pledging | Directors are prohibited from hedging and from holding or pledging company securities in margin accounts | Reinforces alignment; no pledging allowed. |
| Deferral program status | New director deferral elections suspended Nov 5, 2024; existing director deferrals remain under prior elections | Director Plan remains in effect for prior elections. |
Governance Assessment
-
Positives and alignment signals
- Independent Chairman with separated CEO/Chair roles, enhancing oversight .
- Confirmed independent status and leadership presence as Compensation Committee Chair and member of Audit and Nominating committees .
- Strong engagement: board met 21 times; all directors met ≥75% attendance; seven independent-only sessions in 2024 .
- Director pay mix includes equity; Mr. Creagh elected to take 50% of H1 2024 cash fees in stock, signaling alignment .
- Ownership safeguards: 3x cash retainer stock-holding guideline, anti-hedging/pledging policy .
- No related-party transactions disclosed for Mr. Creagh; company’s sole Item 404 related-party transaction in 2024 related to the Palisades acquisition involving the CIO and was audit-committee approved .
- Shareholder support: 2024 say-on-pay approval exceeded 92% .
-
Watch items
- External CEO role at Brosnan Risk Consultants (asset sale completed Dec 2024; remains CEO of surviving entity) warrants continued monitoring for time commitments, though no conflicts or related-party dealings with CIM are disclosed .
- Audit Committee rotations in 2025 (off April 1, 2025; re-appointed April 11, 2025) reflect refreshment but should be observed for continuity of financial oversight .
Overall, governance signals around independence, committee leadership, engagement, and ownership alignment are constructive for investor confidence, with no director-specific conflicts disclosed in 2024.