Western Asset Mortgage Capital Corporation announced that Stephen Fulton will retire from his positions as Chief Investment Officer of the company effective September 30, 2013. Mr. Fulton has indicated his intention to leave the investment management industry to pursue interests in an unrelated field. The company has appointed Anup Agarwal to serve as Chief Investment Officer upon Mr. Fulton's departure.

Mr. Agarwal joined Western Asset Management Company earlier this year as Head of Non-Agency MBS and ABS. He will now also assume the role of Head of Agency MBS upon Mr. Fulton's retirement. Mr. Agarwal has 15 years of experience in securities analysis and investment management.

From 2007-2013, Mr. Agarwal served as Portfolio Manager and Head of Consumer Credit for Stark Investments.