David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. Below are excerpts from my letter to shareholders, released April 7, 2021. 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. Serena Wolfe - CFO. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. We don't complete clarity on the economy and some of that runoff could go into the agency sector. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. in Finance from the University of Dayton. 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. Dr. Hannan is a former Global Lead Partner, National Managing Partner and Vice Chairman of KPMG, LLP, the U.S. member firm of the global audit, tax and advisory services firm KPMG International. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Board of Directors in ANNALY CAPITAL MANAGEMENT. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Securitization market started to show signs of life in mid-May and we issued nearly $500 million of expanded prime securities earlier this month, subsequent to quarter end. Current positions of David Finkelstein. 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. Annalys 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. He was Chief Financial Officer of the Phoenix Companies, Inc. from 2004 until 2007, and Executive Vice President and Chief Investment Officer of the Phoenix Companies in 2002 and 2003. For example, government mandates at all levels have created an even greater dependency on technology while also driving demand and behavior in ways that has made once boring annuity business into growth sectors. Actual events and results may differ materially from these forward-looking statements. The market dysfunction that occurred amid the initial COVID outbreak in the US has dissipated and we have seen significant improvement in liquidity and asset pricing. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Mr. Haylon received a B.A. Additional information on the Company can be found at www.annaly.com. Under the standard an entity recognizes its estimate of lifetime expected credit losses as an allowance, which the fed believes will result in more timely recognition of such losses and while changes in economic scenarios and asset performance in the future will impact Cecil reserves in subsequent quarters, current reserve levels should not be considered as a pervasive credit issue within the portfolio or an indication of what reserves may be recorded in the future. 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. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. 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. On a more positive note, multifamily remained strong throughout the quarter. biography. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The chart on this page features a breakdown of the total annual pay for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. Financial Highlights GAAP net income (loss) of ($1.96) per average common share for the quarter; $3.93 per average common share for the full year 2022 Earnings available for distribution [] Over the last 20 years, insiders at Annaly Capital Management Inc have traded over $734,400 worth of Annaly Capital Management Inc stock and bought 3,810,453 units worth $38,359,155 Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . 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. 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 was elected to serve as a director of Annaly in March 2020. 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following executives on its annual proxy statement to the SEC. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York as well as a member of the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas. The charts on this page feature a breakdown of the total annual pay for the top executives at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. Annaly Capital Management can also be reached via phone at (212) 696-0100 and via email at [emailprotected] Learn More on David L. Finkelstein's contact information. 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. And everything you said the two words that stood out everything changes. There are 11 older and 9 younger executives at Annaly Capital Management Inc. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . There are no executives at Annaly Capital Management Inc getting paid more. Our next question comes from Kenneth Lee with RBC Capital Markets. Yes the TBA role provided about $97.5 million post NIM for the quarter. So the NIM itself is not reflective of TBAs at all to your dollar role at all? Ms. Bovich has also served as a board member of The Dreyfus Family of Funds since 2012, including currently serving as a board member of a number of registered investment funds within the fund complex. Now that being said, we are starting to get through this phase 2 as I mentioned last quarter where it's really about recalibrating each portfolio in the business and making sure we're optimizing each of the businesses and we're starting to get a better look at how things are going to unfold and we're seeing opportunities in credit and we're very strong constructive and it just may take a little bit of time to make sure we have the right approach and we have complete clarity on how things are going to play out. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Glenn has been an invaluable part of our leadership team and we thank him for his numerous contributions over the years and look forward to his continuing service on our board. Mr. Finkelstein has over 25 years of experience in fixed income investments. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Insiders at Annaly Capital Management own 0.3% of the company. No, it is not reflected in the funding cost. 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. Our next question comes from Doug Harter with Credit Suisse. . Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. Now with respect to options, we did reinvest a lot of the runoff in our swap portfolio back in out of money options and I'll tell you going forward that will be a function of the level of implied volatility. 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. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. The economic slowdown brought on by the pandemic has obviously created considerable uncertainty and this is different kind of recession than that which we've experienced in the past, given the unprecedented speed and magnitude of the downturn. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. 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. Jun 09, 2022. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. Last updated: 1 March 2023 at 11:00am EST. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. I'd now like to turn the conference over to Purvi Kamdar. Thomas Hamilton was elected to serve as an independent director of Annaly in March 2019. david finkelstein annaly compensationgetting married in tanzania. Learn More about insider trades at Annaly Capital Management. David L. Finkelstein C.F.A. Thank you. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f So we set the dividend at $0.22 because we believe that to be the sustainable level for the foreseeable future as long as we had a lens into the horizon. This reduced our pay rate as well as shorten the maturity of our swap portfolio. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Mr. Green has over 20 years of experience in corporate and securities law. 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. Select Other Years 2007 2006 For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following executives on its annual proxy statement to the SEC . Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation This information is according to proxy statements filed for the 2021 fiscal year. We have to look at how attractive assets are and then put that in the context of where thee stock prices make a buyback decision based on that. Mr. Finkelstein earned a salary of $1,000,000.00, a bonus of $6,325,000.00, stock awards of $1,800,001.00, and other compensation of $13,763.00. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Please disable your ad-blocker and refresh. Steven F. Campbell is President and Chief Operating Officer of Annaly. The conference has now concluded. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . 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 . Does that answer your question? Non-agency securities across legacy CRT jumbo 2.0 and non-QN have seen substantial recovery. MSR has different structural aspects to it that make it very cheap, but nonetheless structural leverage is a little bit inferior right now to balance sheet leverage. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. We continue to think it critical in the current environment to consider the address economic scenarios available in this process and to err on the side of conservatism given a significant uncertainty in the economic and market values scenarios. Mr. Campbell also worked at General Electric Capital Corporation and D.B. Will His AI Plans Be Any Different? 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. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. When I look this morning three month 10-year swaption was up 53 basis points. Mr. Schaefer has over 40 years of financial services experience including serving as a member of the management committee of Morgan Stanley from 1998 through 2005. The Agency group invests in agency mortgage-backed securities. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. They provide a much better competitive profile with lower prepayment characteristics than the market, but generally speaking pool pricing can be variable and so that's probably the risk in any agency. Mr. Finkelstein has 25 years of experience in fixed income investments. David Finkelstein is Chief Executive Officer and a Board Director of Annaly Capital Management.<br><br>David has 25 years of experience in fixed income investments. Mr. Finkelstein has over 25 years of experience in fixed income investments. and LL.M. 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. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. The information shown here is a reporting of information included in the company's proxy statement. Ms. Bovich has a B.A. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Nov 07, 2016. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Prior to the merger, Mr. Hamilton had served as Chairman of the Board of Chondrial Therapeutics, Inc., a biotechnology company he started to cure a rare neurodegenerative disease called Friedreichs Ataxia, since 2013. Mr. Votek holds a B.S. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. We add the incremental dollar role income to core income and then the outcome. Also as David mentioned, our internalization transaction closed at the end of the quarter and we anticipate generating cost savings over the long time as we embark on being an internally managed company. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. As David touched on, our economic leverage declined to 6.4 times from 6.8 times quarter-over-quarter, which was mainly due to a decrease in repo balance of $5.4 billion and an increase in our equity-base of $1.1 billion that was partially offset by an increase in TBA contracts of $5.8 million and an increase in net payables for investments purchased of $1.5 billion. 212-333-3810 We appropriately conservatively reserve for any what we think to be of any eventuality down out the horizon but there's idiosyncratic risk in every credit asset and so we feel good about it, but there could be one-off disruptions and so that's we're looking at as well. 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. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). Current positions of David Finkelstein. Participants on this morning's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Head of Residential Credit; Tim Gallagher, Head of Commercial Real Estate; Tim Coffey, Chief Credit Officer and Ilker Ertas, Head of Securitized Products. Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. Thanks. Out treasury function is the best in the business and their expertise and exemplary market timing was a key component that helped us weather the market dislocation last quarter and our ability to deliver strong core earnings this quarter. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. You may also find the annual proxy statement by going directly to the company's website. Please note today's event is being recorded. Coronavirus Tips Working and Protection. Ms. Williams has over 17 years of compensation and governance experience. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . So balance sheet leverage is incredibly inexpensive right now and abundantly available because of the reserves in the system and in the agency space it's more favorable than structural leverage through derivatives. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 1 dividend stock for a LIFETIME of income. Ilker . She is also a graduate of the Chicago Management Institute at the University of Chicago, Booth School of Business and the Institute of Comparative Political & Economic Systems at Georgetown University. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. I think that's probably the best description of what we brought them through the shares. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. 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. Mr. Finkelstein also holds the Chartered Financial Analyst designation. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. And did you guys say what your book value was through July? We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. Ms. Williams has over 17 years of compensation and governance experience. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Mr. Finkelstein received a B.A. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. This report is not for commercial use. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Please. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. 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 chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. 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. Right. Mr Finkelstein owns over 6,186 units of Annaly Capital Management Inc stock worth over $8,163,735 and over the last 6 years he sold NLY stock worth over $0. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. NEW YORK--(BUSINESS WIRE)-- These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. david finkelstein annaly compensationmostar bridge jump injuries. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? You may now disconnect. 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. 1-888-8Annaly Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. The most recent insider tranaction occured on June, 17th when CEO David L Finkelstein bought 200,000 shares worth more than $1,112,000.00. As David mentioned earlier, the stabilizing actions of the Fed coupled with our active portfolio management resulted in improved fed value of our agency assets and significant improvement in financial performance. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. He began his investment banking career at E.F. Hutton & Company in 1976. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. 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. This concludes our question-and-answer session. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. Mr. Finkelstein received a B.A. 2022-2023 Spring Category. Last quarter I noted that most of assets and liabilities are at fair value and that our book value decline was not a function of post asset sales but rather unrealized mark-to-market losses with potential for recruitment. Musk Made a Mess at Twitter. 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. David L. Finkelstein C.F.A. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director.
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