david finkelstein annaly compensation

View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. Sure. David L. Finkelstein C.F.A. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. I think that's probably the best description of what we brought them through the shares. Please go ahead. Ms. Denahan has a B.S. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Content referenced in today's call can be found in our second quarter 2020 investor presentation and second quarter 2020 financial supplement, both found under the Presentation section of our website. On average, Mr trades about 51,067 units every 152 days since 2016. Mr. . Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. 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. Additional information on the Company can be found at www.annaly.com. There been some signs that the worst of the economic distress may be behind us although the recent surge in cases in some areas of the US demonstrates the fragile nature of the recovery. in Economics from Connecticut College and an M.B.A. in Finance from New York University. Learn More on David L. Finkelstein's trading history. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. I'd now like to turn the conference over to Purvi Kamdar. Nevertheless, financial conditions have improved considerably. Biography of David Finkelstein. Mr. David L. Finkelstein C.F.A. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. Kathy Hopinkah Hannan, Ph.D., C.P.A. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. Thanks David. Information on this page was last updated on 6/17/2022. Athletes' ambitions don't end when they leave the field of play. Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. 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. Yeah that's great. Look, first of all I'll talk about the footprint and agency derivatives for example and what we're talking about here Eric is the difference between balance sheet leverage and instructional leverage. David L. Finkelstein is Chief Executive Officer and President of Annaly. Okay. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. Yeah I think prepay is kind of an obvious one outside of that. 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). 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. 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. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. 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. Financial Highlights. When expanded it provides a list of search options that will switch the search inputs to match the current selection. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. 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. 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. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. June 30, 2022 . 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 . Steven F. Campbell is President and Chief Operating Officer of Annaly. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Annaly Capital Management, Inc. Names David L. Finkelstein Chief Executive Officer Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors March 16, 2020 07: . 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. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. GAAP net income improved this quarter as a result of higher GAAP net interest income of $399 million, primarily due to lower interest expense from reduced repo rates and balances and we also experienced lower losses on our core portfolio of $92 million. Learn More about insider trades at Annaly Capital Management. 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. 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. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? Zwirn & Co., L.P. with a focus on credit and debt restructuring. Annaly Capital Management, Inc. Investor Relations 1-888-8Annaly www.annaly.com Release Summary Donnell A. Segalas Concludes his Service as a Member of the Board of Annaly Capital Management, Inc. Mr. Votek has over 30 years of experience in financial services. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Learn More on David L. Finkelstein's salary. 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 [] A reconciliation of GAAP to non-GAAP measures is included in our earnings release. The information shown here is a reporting of information included in the company's proxy statement. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Does that answer your question? And my other questions have been asked and answered. We believe our focused industry-specific positioning within nondiscretionary defensive and mission-critical names will generate the outperformance for peers that will further differentiate our brand in the sector. Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. in Finance from Florida State University. 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. So it's reflected in your funding cost. 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. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). 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. This report is not for commercial use. And with that I'll turn the call over to David. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. So right now balance sheet leverage pools of finance through the repo market is more attractive than structural leverage meaning derivatives who when I say structural leverage I mean an asset whose outcome is dependent on a larger asset like derivatives are. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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. 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. NEW YORK, June 09, 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 . Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. Chart Data in Insider Trading History Table. Prior to the 1997 merger of Dean Witter, Discover and Morgan Stanley, Mr. Schaefer was Executive Vice President, Investment Banking and Head of Corporate Finance at Dean Witter, a position he had held since 1991. 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. 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. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). Prior to joining Annaly in 2013 . 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. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. 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. 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. Mar 16, 2020. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. 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. Mr. Finkelstein received a B.A. 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. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Mr. Green holds a B.A. David Finkelstein - Chief . 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. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. 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). No, it is not reflected in the funding cost. The average price of those shares was I believe $6.30 or meaningfully above that level now. 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. We also announced two leadership changes, Steve Campbell was appointed as Chief Operating Officer and Glenn Votek will retire from his role as Senior Advisor at the end of August while remaining a Director on our board. Mr. Finkelstein also holds the Chartered Financial Analyst designation. The conference has now concluded. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group . Compensation Ownership; David . We also continue to take advantage of the attractive low levels of volatility to hedge the tail risk of a sharp rise in rates in the long end of the yield curve and as such, we replaced much of our legacy swaps in position with additional out of the money payers options. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. On a more positive note, multifamily remained strong throughout the quarter. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Okay. 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. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . And did you guys say what your book value was through July? Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. Our book value per share was $8.39 for Q2, a 12% increase from Q1 and we generated core earnings per share excluding PAA of $0.27, a 30% increase from the prior quarter. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. It did get below that level in early 2019 to about 49 basis points and then the last time prior to that was 2017 and before that it was pre-crisis. Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. That has largely taken delivery of the most negatively convex MBS, which has resulted in a shift to the TBA deliverable across production coupons to more newly originated pools and as a result, nominal carry on production coupons TBAs has improved dramatically thereby adding to returns for TBA holders. This report is not for commercial use. The report demonstrates Annaly's continued focus on setting and measuring progress on . 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. Data Year: 2021. Please go ahead. David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. Our next question comes from Kenneth Lee with RBC Capital Markets. During this call, we may present both GAAP and non-GAAP financial measures. The reason why they appreciate is because there worth it. All proxy statements are public filings made available to the general public by the SEC. 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. from Bowdoin College and a M.B.A. from the University of Connecticut. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. Additionally as noted above, core did benefit from a reduction in financing costs with low average repo rates down to 79 basis points from 1.77% combined with lower average repo balanced stands at $68.5 million from $96.8 million and we achieved these results while opportunistically extending our repo book term increasing our weighted average date of maturity by 50% from 48 days to 74 days. 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. Financial Highlights GAAP net income of $1.37 per average common share for the quarter Earnings available for distribution ("EAD") of $0.28 per average common share for the quarter; unchanged from the prior . Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. 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. 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. Mr. Hamilton received a B.S. We do not undertake and specifically disclaim any obligation to update or revise this information. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. As a reminder, the impending model introduced by the new Cecil is based on expected losses rather than incurred losses, which was the previous management for reserve historically. This button displays the currently selected search type. You may now disconnect. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. And everything you said the two words that stood out everything changes. Mr. Finkelstein received a B.A. 1-888-8Annaly There was a depreciation in the amount on the balance sheet of MSR, half of which was amortization and the other half of which was the multiple compression. Thanks. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Thanks for joining us today and we'll talk to you soon. Michael Haylon was elected to serve as an independent director of Annaly in 2008. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Reinvestment is a key criteria here. Mr. Campbell received a B.B.A. You may also find the annual proxy statement by going directly to the company's website. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. 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. Okay. This makes analysis regarding Cecil reserves particularly challenging. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. So thank you, guys. 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. Mr. Finkelstein has over 25 years of experience in fixed income investments. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Things do look I think positive generally, but just wondering how you guys think about downside risk from here? from the University of Michigan and J.D. Chief Executive Officer, President and Director. 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. 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So broadly speaking in agency it's probably pool pricing and in credit there could be unforeseen events given the economy that could disrupt individual assets.

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