David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. 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. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? Independent ChairAudit CommitteeNCG CommitteeRisk Committee. Annaly Capital Management, Inc. (NYSE:NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020, 09:00 AM ET Company Participants Purvi Kamdar - Head, IR David Finkelstein - CEO & Chief. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. He joined the firm in 2013 and assumed the role of Chief Investment Officer in 2016. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. So the NIM itself is not reflective of TBAs at all to your dollar role at all? So it's not an apples-to-apples comparison. 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. 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. So we're very happy that the market picked up the slack and did a lot of that work. david finkelstein annaly compensationgetting married in tanzania. History of Analytic Philosophy. There are 11 older and 9 younger executives at Annaly Capital Management Inc. Okay. 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. Last updated: 1 March 2023 at 11:00am EST. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. 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. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Shifting to middle-market lending, activity has also picked up as of late as spreads have tightened and sponsors have refinanced transactions that have exhibited improving underlying leverage profiles. Below are excerpts from my letter to shareholders, released April 7, 2021. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Mr. Hamiltons prior roles at Barclays include serving as the Global Head of Securitized Product Trading and Banking, in which capacity he was responsible for the build out of the Barclayss Global Securitized Product businesses, and as the Head of Municipal Trading and Investment Banking. 96% of the portfolio is in specified pools and we built that portfolio we'll over a number of years and we use the opportunity in March to reduce the pool holdings that we didn't find as attractive and what we're left with is a portfolio that is very high quality. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Social distancing and mandated shutdowns have damaged certain sectors of the economy and the corresponding impact on the labor market has been substantial. Thank you for attending today's presentation. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. Annaly encourages investors, analysts, the media and other interested parties to monitor the company's website in addition to following Annaly's press releases, SEC filings, public conference calls, presentations, webcasts and other information they post from time to time on its website. David L. Finkelstein C.F.A. Chief Executive Officer, President and Director. Book value increased our GAAP net income of $856 million or $0.58 per share, which includes $0.05 related to Cecil and specific reserves and higher other comprehensive income of $721 million or $0.51 per share on improved valuations on agency MBS resulting from lower market rates. 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. 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). 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. There are no executives at Annaly Capital Management Inc getting paid more. Beyond just prepays is what happens to pool pricing over the next quarter or two. I wanted to talk a little bit about dividend policy. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Now turning specifically to the agency market, the fed's purchase in upwards of $850 billion MBS in just over four months has dramatically altered the supply and demand picture for the sector. In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Biden Closes In on Order to Restrict US Investment in China Tech, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. Athletes' ambitions don't end when they leave the field of play. We don't complete clarity on the economy and some of that runoff could go into the agency sector. Okay. Mr. Finkelstein has over 25 years of experience in fixed income investments. Please go ahead. Mr. Finkelstein has 25 years of experience in fixed income investments. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. The Agency group invests in agency mortgage-backed securities. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Will Others Follow? 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. Learn More on Annaly Capital Management's active insiders. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. 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. 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? Okay. So it's reflected in your funding cost. We remain comfortable with our existing credit portfolios and the associated Cecil reserves and will continue to monitor specific asset performance and economic projections as we determine future reserves. He began his investment banking career at E.F. Hutton & Company in 1976. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. You may also find the annual proxy statement by going directly to the company's website. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. was elected to serve as an independent director of Annaly in February 2019. Alex Yankus And everything you said the two words that stood out everything changes. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). From 1991 through 2005, Ms. Bovich served as the U.S. Representative to the United Nations Investment Committee, which advised a global portfolio of approximately $30 billion. Our next question comes from Kenneth Lee with RBC Capital Markets. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Good morning and nice quarter guys. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. 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 . 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. Finkelstein received a B.A. Consisting of $22 million of additional reserves during the quarter primarily resulting from the impacts of COVID-19 on our [indiscernible] and more general reserves related to forecast for a deterioration in economic conditions and market values of $46.8 million. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. We add the incremental dollar role income to core income and then the outcome. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. Mr. Finkelstein also holds the Chartered Financial Analyst designation. You may also find the annual proxy statement by going directly to the company's website. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. 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. June 30, 2022 . The conference has now concluded. Thanks for that. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Mar 16, 2020. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. David L. Finkelstein Chief Executive Officer, President and Director: Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. See David L Finkelstein's compensation, career history, education, & memberships. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. The average price of those shares was I believe $6.30 or meaningfully above that level now. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Currently, Dr. Hannan serves on the Board of Directors of Otis Elevator Co., Gingko Bioworks and Carpenter Technology Corporation, is Chairman of the Board of Trustees and a member of the Executive Committee of the Smithsonian National Museum of the American Indian, is a Trustee of the Committee for Economic Development in Washington D.C., and is an active member of Women Corporate Directors. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. 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. 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. Learn More on David L. Finkelstein's trading history. Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Enter your email address below to get our daily insider buying and selling report. And my other questions have been asked and answered. Our next question comes from Rick Shane with JPMorgan. 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. Ms. Bovich has over 30 years of investment management experience lastly serving as a Managing Director of Morgan Stanley Investment Management from 1993 through 2010. This button displays the currently selected search type. All proxy statements are public filings made available to the general public by the SEC. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. You may now disconnect. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Please go ahead. 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. The improvement in singles that the market currently believes that the majority of forbearance cases, which have stabilized over the past couple of months will ultimately be resolved. ANNALY@brunswickgroup.com, Navigate to the << Back to company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. Mr. Votek holds a B.S. 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). 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. Chart Data in Insider Trading History Table. Mr. Finkelstein has over 25 years of experience in fixed income investments. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. in International and Comparative Law from Cornell Law School. 2020. David L. Finkelstein C.F.A. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. Learn More about David L. Finkelstein's net worth. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. Please disable your ad-blocker and refresh. in Finance and Economics from Kean University/University of Arizona, a M.B.A in Finance from Rutgers University and attended the Executive Education Program of the Colgate W. Darden Graduate School of Business Administration at the University of Virginia.

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