These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. 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. Yeah I think prepay is kind of an obvious one outside of that. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. biography. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. Corporate Responsibility CommitteeRisk Committee. David Finkelstein - President, CEO & Director. I'd now like to turn the conference over to Purvi Kamdar. The dividend represented 10.5% yield on our book value which is in line with our historical average while being competitive relative to our peers and various fixed income benchmarks. Mr. Votek holds a B.S. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). 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. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. 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. Ms. Denahan has 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. I think that's probably the best description of what we brought them through the shares. I was wondering if you could talk a little bit more about the thought process around the hedge repositioning in the quarter, adding more hedges on the short end of the curve and then I guess should we expect more options hedging going forward. Sure. Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. Insiders at Annaly Capital Management own 0.3% of the company. . David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . Learn More on Annaly Capital Management's active insiders. While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. david finkelstein annaly compensationgetting married in tanzania. in Education with a concentration in mathematics education and an M.B.A. with a concentration in finance and quantitative statistics, each with honors from the University of Georgia. 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. From 1997 to 1998, Mr. Schaefer was Managing Director and Head of Strategic Planning and Capital Management at Morgan Stanley. Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. 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. And now with that, I'll hand it over to Serena to discuss the financials. In terms of how it's actually reflected in the yield it's not. I would like to turn the conference back over to David Finkelstein for any closing remarks. 2015. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. And did you guys say what your book value was through July? The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Thanks. 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. You may also find the annual proxy statement by going directly to the company's website. in Economics and Political Science from the University of Pennsylvania and a J.D. 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. 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. Biography of David Finkelstein. Serena Wolfe is Chief Financial Officer of Annaly. Most recently, Mr. Hamilton served as a Strategic Advisor to the Global Head of Fixed Income, Currencies and Commodities at Barclays Capital in New York. 2020. Board of Directors in ANNALY CAPITAL MANAGEMENT. Yeah that's great. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. However, non-agency lending has been somewhat slow to redevelop as credit standards have tightened relative to pre-pandemic underwriting and mortgage originators tend to focused more on agency originations in light of fewer frictions in a wide primary secondary spread. Athletes' ambitions don't end when they leave the field of play. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. Good morning and nice quarter guys. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Steven F. Campbell is President and Chief Operating Officer of Annaly. 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. 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. 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. This report is not for commercial use. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. is the Pres, CEO & Director at Annaly Capital Management Inc. 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. Chief Executive OfficerChief Investment Officer. From 1995 until 2002, he held the position of Executive Vice President of Phoenix Investment Partners, Ltd., a NYSE-listed company, and President of Phoenix Investment Counsel, where he was responsible for the management and oversight of $25 billion in closed-end and open-end mutual funds, corporate pension funds and insurance company portfolios. Last updated: 1 March 2023 at 11:00am EST. Compensation Ownership; David . Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. 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. But the good news is, if China invades Taiwan, there is a way to protect yourself. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. Mr. Hamilton received a B.S. Our goal has been to maintain optimal liquidity thresholds and to manage the portfolio within conservative risk parameters to produce the highest level of quality earnings in this market environment. There are 11 older and 9 younger executives at Annaly Capital Management Inc. With respect to the incremental benefit of the TBA position for the second quarter, I'll say I think the actual dollar contribution or in pennies was about $0.07 and with respect to the NIM contribution, Serena you can. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. 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. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") announced today the Board of Directors (the "Board") has elected David L. Finkelstein as its Chief Executive Officer and a . We continue to be impressed by the resiliency of our workforce and the exemplary service that our IT infrastructure team has provided to every one of us during the time of remote work. Okay. 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. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, risks and uncertainties related to the COVID-19 pandemic, including as related to adverse economic conditions on real estate-related assets and financing conditions (and our outlook for our business in light of these conditions, which is uncertain); changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability of mortgage-backed securities and other securities for purchase; the availability of financing and, if available, the terms of any financing; changes in the market value of our assets; changes in business conditions and the general economy; operational risks or risk management failures by us or critical third parties, including cybersecurity incidents; our ability to grow our residential credit business; the sale of our middle market lending business; credit risks related to our investments in credit risk transfer securities, residential mortgage-backed securities and related residential mortgage credit assets and corporate debt; risks related to investments in mortgage servicing rights; our ability to consummate any contemplated investment opportunities; changes in government regulations or policy affecting our business; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; and our ability to maintain our exemption from registration under the Investment Company Act. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Chief Executive OfficerChief Investment Officer. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Chart Data in Insider Trading History Table. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. Our measured approach to weathering the crisis served us well we feel very good about our positioning as the recovery progresses as I'll get into more detail. Kathy Hopinkah Hannan, Ph.D., C.P.A. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. in Finance from the University of Dayton. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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 All proxy statements are public filings made available to the general public by the SEC. David L. Finkelstein Chief Executive Officer, President and Director: This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. 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? Of this total $1,000,000 was received as a salary, $6,325,000 was received as a bonus, $0 was received in stock options, $1,800,001 was awarded as stock and $13,763 came from other types of compensation. Please go ahead. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. 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. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. 25. times its median employee's . 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. Ms. Williams received a B.S. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. 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. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. 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. 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. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. Data Year: 2021. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. As I mentioned last quarter, we expect to see more growth in this segment as markets continue to normalize and we are encouraged by the steady pace of securitization activity to support our asset generation strategy. There are no executives at Annaly Capital Management Inc getting paid more. Yeah it depends on the shape of the curve, like over the last couple of months, the term structure of repo has flattened pretty considerably, which has enabled us to extend out curve at very attractive rate. This makes analysis regarding Cecil reserves particularly challenging. 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. 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. Learn More on David L. Finkelstein's trading history. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. David Finkelstein interviewed on WBEZ's "Odyssey" Recent Courses PHIL 50212 Late Wittgenstein: The Absolute Basics for The Confused, Skeptical, and Ignorant (IV) David Finkelstein. So while implied volatility is very low and that's by design on part of the part of the fed and to the extent it continues to decline, it will be a more attractive hedge to our agency portfolio and I would say that in current levels, you should expect it to be a critical component of the portfolio going forward. 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. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. Non-agency securities across legacy CRT jumbo 2.0 and non-QN have seen substantial recovery. 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. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. And with that I'll turn the call over to David. Management Development and Compensation Committee (Chair)Audit Committee. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. So it's reflected in your funding cost. California Weighs $360,000 in Reparations to Eligible Black Residents. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. When I look this morning three month 10-year swaption was up 53 basis points. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. from Bowdoin College and a M.B.A. from the University of Connecticut. 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. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. 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. Thanks Brendon for your help and we hope everybody stay safe. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Thanks for joining us today and we'll talk to you soon. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Okay. 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. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. Click here to read the full letter and more from Annaly's 2020 Annual Report. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 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. 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. In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . 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. 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. Mr. Finkelstein was appointed as Chief Executive Officer and elected to serve on the Board of Directors in March 2020. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. 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. 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. 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. Okay. From 1986 until 1990, he was Managing Director at Aetna Bond Investors where he was responsible for management of insurance company and pension fund portfolios. Please go ahead. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. He began his investment banking career at E.F. Hutton & Company in 1976. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. Mr. Hamilton has served as a Director of Larimar Therapeutics, Inc., a clinical-stage biotechnology company focused on developing treatments for rare complex diseases, since May 2020 when Chondrial Therapeutics, Inc. merged with Zafgen, Inc. and the combined company began operating as Larimar.