Total core income is used to buy, Eric. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Learn More on David L. Finkelstein's salary. Ms. Williams has over 17 years of compensation and governance experience. Mar 16, 2020. The Agency group invests in agency mortgage-backed securities. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. So we don't expect a meaningful increase in agency, but over the near term you can see a small uptick. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Please go ahead. Additionally, the report incorporates summary ESG metrics for the past three years, which include further details on the composition of Annalys Board of Directors and employees, philanthropy and volunteerism efforts and environmental indicators. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. While our portfolio speech did experience an increase on the quarter, prepays on our overall portfolio were notably lower than the GSE universe, which paid roughly eight CPR faster despite the higher average coupon of our portfolio relative to the universe. David Finkelstein, Annaly's Chief Executive Officer and Chief Investment Officer, commented: "Since 1997, Annaly has become the largest mortgage REIT in the world and delivered $24 billion in dividends to our shareholders in a variety of interest rate and economic conditions. Now of additional note with respect to our direct lending portfolios, we have taken what we believe to be a very conservative approach regarding reserves and Cecil adjustment which Serena will discuss in further detail. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. Turning to earnings, the largest factor quarter-over-quarter to quote an ex-PAA will lower interest expense of $186 million versus $503 million in the prior quarter due to lower average repo rates and balances as well as higher TBA [indiscernible] income of $96 million versus $44 million in the prior quarter, due to higher average balances partially offset by higher expense from the net interest component of interest-rate swaps of $65 million visits $14 million in the prior quarter and higher average balance. Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. The reason why they appreciate is because there worth it. Mr. Schaefer received a B.B.A. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Mr. Campbell currently serves on the Advisory Board for the Fitzgerald Institute of Real Estate at the University of Notre Dame. Chief Corporate OfficerChief Legal Officer. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. Sure Ken you bet and what I meant by that is that the increase in agency could occur over the very short term as credit markets are still redeveloping and we do have some runoff in that capital will be reallocated to agency over the very near term and when we say that, a very small percentage. Ilker . Is this special mix reflected in both the asset yield and the cost of funds and then how big is your TBA balance now versus the end of June? Trustee. As outlined in our report, we continue to Take Stock of Our Impact establishing ESG goals and commitments and tracking our considerable progress as we strive to integrate ESG priorities across our business, said David Finkelstein, Annalys Chief Executive Officer and President. Sean Kensil - Vice President, Investor Relations. Any forward-looking statements made during today's call are subject to certain risks and uncertainties including with respect to COVID-19 impacts, which are outlined in the risk factors section in our most recent annual and quarterly SEC filings. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . For the agency derivatives portfolio, I realized you guys maybe [indiscernible] surface very often, but how much of your cost basis was amortized through core earnings in that portfolio last quarter and then with rates having coming down quite a bit, presumably some of those assets are cheap and how are you guys thinking about your footprint in that portfolio? From 1980 until 1984, he was a Senior Financial Analyst at Travelers Insurance Companies. As COO, Steve will expand on the work he's been doing as Head of Business Operations and work closely with the executive team to help oversee Annaly's overall operations and risk management functions. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation There are 11 older and 9 younger executives at Annaly Capital Management Inc. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group of the Federal Reserve Bank of New York where he was the primary strategist and policy advisor for the MBS Purchase Program. Prior to joining Annaly in April 2015, Mr. Campbell held various roles over six years at Fortress Investment Group LLC, including serving as a Managing Director in the Credit Funds business. David Finkelstein, Annaly's Chief Executive Officer and Chief Investment Officer, commented: "Since 1997, Annaly has become the largest mortgage REIT in the world and delivered $24 billion in dividends to our shareholders in a variety of interest rate and economic conditions. The portfolio generated 188 points of NIM up Q1 of 118 basis points, driven primarily by the decrease in cost on funds that I mentioned a moment ago. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. From 1990 until 1994, he was Senior Vice President of Fixed-Income at Phoenix Home Life Insurance Company. Non-agency securities across legacy CRT jumbo 2.0 and non-QN have seen substantial recovery. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Mr. Votek has over 30 years of experience in financial services. Zwirn & Co., L.P. with a focus on credit and debt restructuring. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Ms. Wolfe held a variety of roles across industries since beginning her career at E&Y in 1998, including most recently as EYs Central Region Real Estate Hospitality & Construction leader since 2017. This makes analysis regarding Cecil reserves particularly challenging. The report demonstrates Annalys continued focus on setting and measuring progress on environmental, social and governance (ESG) goals, as well as its commitment to providing increased disclosure and transparency. Mr. Votek holds a B.S. So look with respect to the agency market, we are in an environment where funding is abundantly available and will be for some time given the reserves in the system. And actually as you're answering that question, I'm realizing there's another element to that, which is that some of that additional that excess earnings is coming back to you shareholders in the form of the repurchases at a discount as well. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Athletes' ambitions don't end when they leave the field of play. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. I will provide brief financial highlights of the quarter ended June 30, 2020 and while earnings release discloses our GAAP and non-GAAP core results, I will be focusing this morning primarily on our core results and related metrics or excluding PAA. Annaly Capital Management, Inc. (NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET, David Finkelstein - CEO & Chief Investment Officer, Tim Gallagher - Head, Commercial Real Estate. David Finkelstein - Chief . These initiatives are a testament to our focus on driving shareholder value, ensuring that the firm as a whole, our structure as well as our portfolio is positioned to continue outperforming as our second quarter results demonstrate. The average price of those shares was I believe $6.30 or meaningfully above that level now. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Learn More on David L. Finkelstein's contact information. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. from Bowdoin College and a M.B.A. from the University of Connecticut. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. All proxy statements are public filings made available to the general public by the SEC. Serena Wolfe is Chief Financial Officer of Annaly. The information shown here is a reporting of information included in the company's proxy statement. Annaly ended the quarter with excellent liquidity profile within $7.9 billion of unencumbered assets an increase of $1 billion from prior quarter and including cash and unencumbered agency MBS of $5.3 billion. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Thanks again. Consequently, we reduced leverage during the quarter from 6.8 times to 6.4 times and made the prudent decision to set our quarterly dividend at $0.22. History of Analytic Philosophy. US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Mr. Haylon has served as a Managing Director at Conning, Inc. since January 2012 and previously served as Head of Asset Management Sales, Products and Marketing from December 2014 until June 2018 and as Head of Investment Products from January 2012 until December 2014. Okay. Beyond just prepays is what happens to pool pricing over the next quarter or two. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Mr. Finkelstein has over 25 years of experience in fixed income investments. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. The conference has now concluded. This information is according to proxy statements filed for the 2021 fiscal year. Information on this page was last updated on 6/17/2022. When expanded it provides a list of search options that will switch the search inputs to match the current selection. From 2015 until 2018, Dr. Hannan served as a Senior Advisor for KPMGs Board Leadership Center and National Leader Total Impact Strategy and, from 2009 until 2015, as KPMGs National Managing Partner of Diversity and Corporate Responsibility. Signaling from a fed on continued low rates combined with considerable injection of additional reserves in the financial system through repo operation and asset purchases have led to very stable funding conditions with repo markets experiencing no signs of stress through the quarter even on pivotal month end and quarter end days 1.8. He joined the firm in 2013 and assumed the role of Chief Investment Officer in 2016. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report for the year 2021, titled Taking Stock of Our Impact. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. in Economics from Connecticut College and an M.B.A. in Finance from New York University. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Mr. . In addition to her roles at KPMG, as a Native American Indian and member of the Ho-Chunk Nation Tribe, Dr. Hannan served on President George W. Bushs National Advisory Council on Indian Education. So I think we had $25 million of the $277 million in the MSR that started the quarter was actual amortization and derivatives you might say on the ISI would mimic that. With the improved stability in the financial markets, we've seen an improvement of lenders appetite to finance credit assets particularly in the residential space in anticipation of the expiration of our FHLB membership in February of 2021, we're executing an offset financing strategy involving committed funding facilities for our residential credit business and as David mentioned, we maintain a strong presence in residential securitization market. . Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. This concludes our question-and-answer session. As the Pres and CEO & Director of Annaly Capital Management Inc, the total compensation of Mr A at Annaly Capital Management Inc is $8,203,772. The company was founded by Michael A. J. Farrell and Wellington Jamie Denahan-Norris on February 18, 1997 and is headquartered in New York, NY. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. June however, did bring about an increase in new refinancing requests with some new acquisition activity at post-COVID purchase prices and simultaneously, we've seen a significant number of warehouse providers begin to close new loans although pricing levels have been reset higher. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. We have entered a more normalized environment with fed action serving as a key driver and spreads have retraced much the widening experienced in March we do remain positive on the sector given ample funding availability at low rates due to rate volatility and a complete reversal of an inferior technical backdrop that characterizes sector at the outset of this year. Annaly Capital Management Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Annaly Capital Management Inc, Stocks and cryptocurrency portfolio tracker. Mr. Reeves is a member of the Henry Crown Fellows at the Aspen Institute and was honored as a Chicago United Business Leader of Color. Mr. Haylon received a B.A. Ms. Williams has over 17 years of compensation and governance experience. Consistent with that strategy, since the beginning of the second quarter, we added $1.125 billion of capacity across two new credit facilities for our residential credit group, the permanent nonrecourse financing. New deal activity is primarily relegated to more broadly syndicated loans however, the context first lien executions on larger transactions have tightened 75 basis points to 100 basis points over the past quarter, while traditional middle-market has shown less movement in pricing. david finkelstein annaly compensationmostar bridge jump injuries. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. This report is not for commercial use. This reduced our pay rate as well as shorten the maturity of our swap portfolio. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . But when you look at the portfolio and the economic return of the portfolio on the quarter, that was 15% and that persists we think. As the latest data indicates over 90% of renters made a full or partial rent payment as of June and in the office sector, although new leasing has slowed significantly, office REITs have reported strong rent recollections above 90% throughout the back end of the second quarter. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. As an internally managed REIT, we look forward to demonstrating increased transparency and alignment with our shareholders who will benefit from our ability to be more nimble in the way we do business in order to generate long-term value. We were certainly careful to take prudent steps during the early phase of the market recovery to ensure we are well positioned to capitalize on the opportunities that are sure to arise. Annaly's principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group of the Federal Reserve Bank of New York where he was the primary strategist and policy advisor for the MBS Purchase Program. You may also find the annual proxy statement by going directly to the company's website. So the NIM itself is not reflective of TBAs at all to your dollar role at all? Prior to joining Annaly in 2013, Mr. Votek was an Executive Vice President and Treasurer at CIT Group since 1999 and also President of Consumer Finance since 2012. The lower coupon holdings are predominantly in TBAs and higher coupons are concentrated and specified pools in light of the meaningful elevation in prepayment speeds in this environment. I wanted to talk a little bit about dividend policy. david finkelstein annaly compensation. And finally shifting to our outlook, as we think about our capital allocation out of the horizon, we've been focused on preserving flexibility given uncertainty in the greater economy related to COVID shutdown. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . ANNALY CAPITAL MANAGEMENT Compensation by Company. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe The most recent stock trade was executed by Anthony C Green on 1 February 2023, trading 1,584 units of NLY stock currently worth $32,203. Non-Equity Incentive Plan Compensation: $0: Change in Pension Value and Deferred Compensation Earnings: $0: All Other Compensation: $13,763: Total: $9,138,764: Annaly Capital Management, Inc. disclosed its CEO pay was. Mr. Finkelstein has 25 years of experience in fixed income investments. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 As a result we ran numerous scenarios in excess of 20, to determine the appropriate amount of Cecil reserves to the quarter and ultimately booked reserves that were considerably more conservative than our base case scenario. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. Will His AI Plans Be Any Different? This button displays the currently selected search type. Prior to joining Annaly in 2013 . Hey how much did TBAs add to your net interest margin for the quarter? Mr. Finkelstein was appointed as Chief Executive Officer and elected to serve on the Board of Directors in March 2020. Kathy Hopinkah Hannan, Ph.D., C.P.A. No, it is not reflected in the funding cost. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Actual events and results may differ materially from these forward-looking statements. Insiders at Annaly Capital Management own 0.3% of the company. Of note, while last quarter each of our credit meters providing an in-depth look at their respective markets and portfolios to be efficient, I'll provide those updates today but as Purvi noted each of our business heads are here as well to join in Q&A. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. Learn More on David L. Finkelstein's salary. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Management Development and Compensation Committee (Chair)Audit Committee. At the time we started quarter with a swap portfolio of about nine odd years I believe, now given how long that portfolio is in duration as we mentioned last quarter provides multiples of interest rate protection relative to the assets, which are much shorter in duration. Mr. Green has over 20 years of experience in corporate and securities law. Previously, Ms. Denahan served as Chief Executive Officer of Annaly from November 2012 to September 2015 and as Co-Chief Executive Officer of Annaly from October 2012 to November 2012. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. In fact some of our industry concentrations have maturely benefited from the current environment. Right. At quarter end, we closed our previously announced internalization transaction, which marks a significant step in the series of measures Annaly has implemented as an industry leader from a government standpoint. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . You may now disconnect. We're experiencing a meaningful imbalance between supply and demand as a cyclically low number of housing units, meets continued strong household formations and anecdotal evidence suggests that pandemic disruptions that limited impact on the home buying and refinancing processes. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. So thank you, guys. Ms. Wolfe currently serves on the boards of Berkshire Grey, Inc. and Doma Holdings, Inc. Ms. Wolfe received a Bachelor of Commerce in Accounting from the University of Queensland. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. ANNALY@brunswickgroup.com, Navigate to the << Back to Enter your email address below to get our daily insider buying and selling report. Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Annaly intends to use our webpage as a means of disclosing material non-public information for complying with the company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. As I mentioned we out-earned the dividend by $0.05 this quarter and absent another market dislocation or other foreseen developments, we expect Q3 core canings to also the dividend. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. . Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. Despite the challenging environment, we're pleased with how the portfolio has performed during the period ending the quarter essentially unchanged at $2.2 billion in assets. So we like to see it flatten a little bit further and we think it should given the posture the fed and when you look at the last set of economic projections, so lift off not likely to occur for the next couple of years, you could see some further flattening in the term curve but we're watching it and we're making incremental steps to term out our repo. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Mr. Finkelstein also holds the Chartered Financial Analyst designation. This is in large part due to the ongoing decisive actions taken by the Federal Reserve, which have been successful in restoring markets and easing credit strains. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. Mr. Reeves serves on the boards of several DCM portfolio companies and funds as well as on the Advisory Board of Ozinga Bros. His civic and philanthropic commitments include trusteeships at Rush University Medical Center and the National Philanthropic Trust. As we gain further clarity around the long-term implications of COVID, we are reassured by the stable and defensive nature of our portfolio and remain confident in its ability to withstand prolonged bouts of market volatility. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. Thomas Hamilton was elected to serve as an independent director of Annaly in March 2019. In the latest report, the Company included additional disclosures outlining climate-related risks and opportunities across its business in the short-, medium- and long-term horizons following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
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