New Senior Investment Group Inc. appointed David Smith as executive vice president and CFO and Bhairav Patel as executive vice president of finance and accounting, effective Jan. 1, 2019, in connection with the internalization of its management function.

Smith and Patel both held management positions at Fortress Investment Group LLC prior to their new appointments.

The internalization, which is expected to result in roughly $10 million of annual cost savings, is set to be completed Jan. 1, 2019.