Smriti L. Popenoe, CFA

Smriti L. Popenoe joined the Board of Directors at Dynex in September 2023. She is President and Chief Investment Officer of the Company. Her extensive career in finance and capital markets brings a wealth of expertise in risk management, investment leadership, and best practices in portfolio optimization. She was recently named to the MBA Commercial Real Estate Board of Governors and volunteers as the Chair of the Investment Committee for the Mortgage Bankers Association. As President of Dynex, Smriti is accountable for the raising, deployment, and management of the company’s capital. As Chief Investment Officer, she leads the team that oversees the Company’s investment portfolio of agency and non-agency Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS), loans; associated hedges in fixed-income derivatives, and financing arrangements. With almost three decades of career success, she served as Chief Risk Officer at PHH Corporation, a leading provider of mortgage banking and fleet management outsourcing services. As Senior Vice President with Wells Fargo (Wachovia Bank at the time), she managed the $100+B investment portfolio and led the team through the financial crisis of 2009. Further reflecting a broad career, she served as Senior Vice President, Investments with Sunset Financial Resources, a startup REIT. She managed an investment portfolio of $400B fixed-rate mortgage-backed securities (MBS) and whole loans while with Freddie Mac during the early years of her career. Ms. Popenoe received the Chartered Financial Analyst (CFA) designation in 1997 and holds three degrees: an MBA from the University of Rochester, a Master’s-level French diploma from the Alliance Française, and a B.S. in Chemistry and Environmental Science from St. Joseph’s College in Bangalore, India. Dedicated to building winning teams and mentoring others, she is a Founding Member of the Washington DC chapter of Chief, the only organization designed for senior women leaders to strengthen their leadership journey, cross-pollinate ideas across industries, and effect change from the top down.