Altisource Asset Management Corporation announced the hiring of Indroneel Chatterjee as the company's new Co-Chief Executive Officer, effective January 13, 2020. Mr. Chatterjee will also become a member of the company's board of directors on the Effective Date. The current Chief Executive Officer, George Ellison, will continue as co-Chief Executive Officer and Chairman and be responsible for managing the Company's existing business including the asset management agreement with Front Yard Residential Corporation (“Front Yard”).

Mr. Chatterjee was hired as an additional resource for AAMC and will be responsible for implementing new business. Mr. Chatterjee has served as a consultant to various businesses since March 2019. He previously served as Senior Vice President, New Business Initiatives of Altisource Solutions Inc. from September 2018 to March 2019.

Altisource Solutions Inc. is a subsidiary of Altisource Portfolio Solutions S.A., an integrated service provider and marketplace for the real estate and mortgage industries. Mr. Chatterjee served as Chief Financial Officer of ASPS from October 2017 to August 2018. Prior to joining ASPS, he served as Head of Credit Solutions, Global Markets at Nomura Securities, an investment banking firm, from January 2017 to September 2017 and as Executive Director on the fixed income trading desk at Nomura from August 2014.

Mr. Chatterjee also held the positions of Investment Analyst, Absolute Return Income Fund for Perry Capital from March 2013 to April 2014, Executive Director for UBS Securities LLC from November 2009 to March 2013 and Vice President, High Yield Research for AIG Global Investment Group from October 2006 to November 2009.