in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Annaly Capital Management, Inc. (NLY) Leadership & Management Team Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Volatility is low and the fed is specifically directing volatility lower and they also happen to be a huge tailwind in terms of purchases of agency MBS, so the technicals are very favorable and to your point, it does appear to be a very good backdrop for the foreseeable future for agency. This report is not for commercial use. Michael Haylon was elected to serve as an independent director of Annaly in 2008. 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 a B.A. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. So the NIM itself is not reflective of TBAs at all to your dollar role at all? In the last twelve months, Annaly Capital Management insiders bought shares 1 times. 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. 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. Enter your email address below to get our daily insider buying and selling report. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Thanks for that. 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 . David Finkelstein | Department of Philosophy David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. Learn More on David L. Finkelstein's trading history. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. David L Finkelstein, Annaly: Profile and Biography Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. As COO, Steve will expand on the work he's been doing as Head of Business Operations and work closely with the executive team to help oversee Annaly's overall operations and risk management functions. 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. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. My Letter to Shareholders - LinkedIn The conference has now concluded. david finkelstein annaly compensation So it's not an apples-to-apples comparison. 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. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Mr. Finkelstein has 25 years of experience in fixed income investments. David Finkelstein - conference-board.org NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (the "Company" or "Annaly") today announced management promotions within its senior executive team, which are effective immediately. . 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. David L. Finkelstein C.F.A. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. Thanks for joining us today and we'll talk to you soon. Sean Kensil - Vice President, Investor Relations. 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. 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. You may also find the annual proxy statement by going directly to the company's website. Mr. Schaefer received a B.B.A. Donnell A. Segalas Concludes his Service as a Member of the Board of Total core income is used to buy, Eric. As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Good morning and nice quarter guys. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results They purchased a total of 200,000 shares worth more than $1,112,000.00. 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. Mr. Votek holds a B.S. Previously, Ms. Denahan served as Chief Executive Officer of Annaly from November 2012 to September 2015 and as Co-Chief Executive Officer of Annaly from October 2012 to November 2012. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. Chief Executive OfficerChief Investment Officer. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. 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. With respect to our CRE portfolio specifically, total assets at quarter end of $2.5 billion represented a slight decrease while economic interest remained essentially flat. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. from Loras College. NEW YORK--(BUSINESS WIRE)-- There are 11 older and 9 younger executives at Annaly Capital Management Inc. Thanks. Alex Yankus Thorough reviews have been conducted to assure this data accurately reflects disclosures. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. 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. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . Zwirn & Co., L.P. with a focus on credit and debt restructuring. In comparison our base case scenario was altered in a modest release of reserve, which we felt inappropriate given the continued economic uncertainty centered around the evolving pandemic. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. There are no executives at Annaly Capital Management Inc getting paid more. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe Investor Relations Will Others Follow? It's been relatively calm. 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. Stock Market | FinancialContent Business Page 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. Management Development and Compensation Committee (Chair)Audit Committee. Annaly Capital Management, Inc. (NLY) CEO David Finkelstein on Q2 2020 David L. Finkelstein Chief Executive Officer, President and Director: david finkelstein annaly compensation. 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. And my other questions have been asked and answered. 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. 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. I wanted to talk a little bit about dividend policy. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. We further reduced the LIBOR footprint of our hedge portfolio with our swap now 80% in OIS and we reinitiated our treasury future short position that was unwound in the first quarter. Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. David Finkelstein - Chief . 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. Learn More on Annaly Capital Management's active insiders. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. Leadership | Annaly Capital 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. 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. Compensation Ownership; David . 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. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. Learn More about insider trades at Annaly Capital Management. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Prior to joining Annaly in 2013 . David Finkelstein | AFL-CIO Thanks David. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Information on this page was last updated on 6/17/2022. Mr. . In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. 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. Finkelstein was elected to serve as a director of Annaly in March 2020. ANNALY@brunswickgroup.com, Navigate to the << Back to in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Data Year: 2021. 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. Please go ahead. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. Please note today's event is being recorded. There are no executives at Annaly Capital Management Inc getting paid more. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Annaly Capital Management, Inc. Announces Executive Management Mr. Campbell currently serves on the Advisory Board for the Fitzgerald Institute of Real Estate at the University of Notre Dame. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Annaly ended the quarter with excellent liquidity profile within $7.9 billion of unencumbered assets an increase of $1 billion from prior quarter and including cash and unencumbered agency MBS of $5.3 billion. 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. Annaly Capital Management, Inc. (NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET, David Finkelstein - CEO & Chief Investment Officer, Tim Gallagher - Head, Commercial Real Estate. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . This reduced our pay rate as well as shorten the maturity of our swap portfolio. ANNALY CAPITAL MANAGEMENT Executive Salaries & Other Compensation 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Mr. Green holds a B.A. Will His AI Plans Be Any Different? John H. Schaefer was elected to serve as an independent director of Annaly in 2013. The average price of those shares was I believe $6.30 or meaningfully above that level now. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. 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. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital Management Inc. Mr has made over 11 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. We have entered a more normalized environment with fed action serving as a key driver and spreads have retraced much the widening experienced in March we do remain positive on the sector given ample funding availability at low rates due to rate volatility and a complete reversal of an inferior technical backdrop that characterizes sector at the outset of this year. Annaly Capital Management, Inc. Names David L. Finkelstein Chief Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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. 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. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Okay. So is it fair to say that the repurchase will be part of the flaps in terms of using that excess earnings in the short term? And with that I'll turn the call over to David. 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. Annaly Capital Management, Inc. Names David L. Finkelstein Chief ANNALY CAPITAL MANAGEMENT Compensation by Company. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. June 30, 2022 . ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Now with respect to our hedges, we added to our swap portfolio primarily in the front end and short-term swaps with pay rates close to 0% providing attractive hedge to our financing. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. Mr. Hamilton received a B.S. Please go ahead. 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. Okay. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Mr. Haylon received a B.A. 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. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. Mr. Finkelstein has over 25 years of experience in fixed income investments. Please. 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. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Mar 16, 2020. On a more positive note, multifamily remained strong throughout the quarter. 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. 2014. 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. The largest trade he's ever made was buying 200,000 units of Annaly Capital Management Inc stock on 17 June 2022 worth over $1,112,000. 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.