New Senior Hires David Smith as CFO as Part of Management Internalization Plan

NEW YORK CITY — New Senior Investment Group Inc. (NYSE: SNR) has hired David Smith as executive vice president and chief financial officer and Bhairav Patel as executive vice president of finance and accounting.

The hires took place Jan. 1, concurrent with the New York-based REIT’s previously announced decision to internalize its management structure. Both new employees come from Fortress Investment Group, which previously managed the company.

Smith brings 15 years of REIT experience, most recently serving as managing director in the private equity group of Fortress where he led capital markets and investor relations activities. Prior to joining Fortress, he held various finance, capital markets and investor relations roles at Ventas (NYSE: VTR) and Omega Healthcare Investors (NYSE: OHI), and began his career in the real estate investment banking group at A.G. Edwards.

Patel has over 15 years of finance and accounting experience, and was also most recently a managing director with Fortress. He served in various finance and accounting roles, including head of Fortress’s financial planning and analysis group and principal accounting officer. Prior to joining Fortress, he served as an accounting manager at GSC Group, a credit-based alternative investment manager.

New Senior is one of the largest owners of senior housing properties in the United States, with 133 properties across 37 states.