And with that I'll turn the call over to David. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Will His AI Plans Be Any Different? Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. Mr. Finkelstein has over 25 years of experience in fixed income investments. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Ms. Williams has over 17 years of compensation and governance experience. Musk Made a Mess at Twitter. 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? Ms. Williams has over 17 years of compensation and governance experience. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. Mr. Finkelstein has 25 years of experience in fixed income investments. ANNALY CAPITAL MANAGEMENT Executive Salaries & Other Compensation from the University of Michigan and J.D. David Finkelstein | AFL-CIO Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. David L. Finkelstein C.F.A. 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. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. 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. david finkelstein annaly compensation Does that answer your question? This news release and our public documents to which we refer contain or incorporate by reference certain forward-looking statements which are based on various assumptions (some of which are beyond our control) and may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as may, will, believe, expect, anticipate, continue, or similar terms or variations on those terms or the negative of those terms. 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. Votek has over 30 years of experience in financial services. 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. My Letter to Shareholders - LinkedIn 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. David Finkelstein - Biography - MarketScreener.com Annaly Capital Management, Inc. Reports 1st Quarter 2022 Results - Wire19 in Business Administration from the University of Washington 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%. We do not undertake and specifically disclaim any obligation to update or revise this information. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. Data Year: 2021. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. David L Finkelstein, Annaly: Profile and Biography 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. Thank you for attending today's presentation. All proxy statements are public filings made available to the general public by the SEC. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). David L. Finkelstein C.F.A. Net Worth (2023) | wallmine Learn More about David L. Finkelstein's net worth. 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. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . And my other questions have been asked and answered. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. 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. And actually as you're answering that question, I'm realizing there's another element to that, which is that some of that additional that excess earnings is coming back to you shareholders in the form of the repurchases at a discount as well. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. And that's exactly right. Mr. Haylon received a B.A. [Operator instructions] Our first question comes from Eric Hagen with KBW. Mr. Finkelstein also holds the Chartered Financial Analyst designation. We're experiencing a meaningful imbalance between supply and demand as a cyclically low number of housing units, meets continued strong household formations and anecdotal evidence suggests that pandemic disruptions that limited impact on the home buying and refinancing processes. History of Analytic Philosophy. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Annaly Capital Management, Inc.'s (NLY) CEO David Finkelstein on Q1 Board of Directors in ANNALY CAPITAL MANAGEMENT. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? And as a consequence of that portfolio, we did see a fair amount of appreciation in those pools in the second quarter as markets stabilize and that is one of the risks I think going forward. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . So thank you, guys. And prepay is obviously being the uncertainty and the risk which we I don't think you heard a lot about I'm sure this quarter and I think we managed prepay risk as well as anybody. Ms. Denahan has a B.S. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. They purchased a total of 200,000 shares worth more than $1,112,000.00. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. david finkelstein annaly compensationgetting married in tanzania. David L. Finkelstein C.F.A. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. These initiatives are a testament to our focus on driving shareholder value, ensuring that the firm as a whole, our structure as well as our portfolio is positioned to continue outperforming as our second quarter results demonstrate. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. So look with respect to the agency market, we are in an environment where funding is abundantly available and will be for some time given the reserves in the system. Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. Donnell A. Segalas Concludes his Service as a Member of the Board of The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. 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: . Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. Last updated: 2 February 2023 at 6:03pm EST. 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. Yes the TBA role provided about $97.5 million post NIM for the quarter. 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. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. Ms. Bovich has 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. Thanks Brendon for your help and we hope everybody stay safe. 1 dividend stock for a LIFETIME of income. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Chief Executive OfficerChief Investment Officer. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. david finkelstein annaly compensationmostar bridge jump injuries. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. The reason why they appreciate is because there worth it. 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. Unit tranches and second lean loans within middle-market are experiencing more notable price discovery than its larger market blathering and we expect these gaps to remain as traditional middle-market participants grapple with their portfolios. 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. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. 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. Please note today's event is being recorded. 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. in Economics from Connecticut College and an M.B.A. in Finance from New York University. Hey how much did TBAs add to your net interest margin for the quarter? 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. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. 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. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. 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. Below are excerpts from my letter to shareholders, released April 7, 2021. 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. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. biography. Mr. Finkelstein received a B.A. Mr. Finkelstein has 25 years of experience in fixed income investments. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Learn More on David L. Finkelstein's salary. David L. Finkelstein Chief Executive Officer, President and Director: However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. Annaly Capital Management (NLY) CEO David Finkelstein on Q4 2021 None of Annaly's achievements would have been possible without . NCG Committee (Chair)Corporate Responsibility Committee. and LL.M. 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. Serena Wolfe - CFO. 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 $5.3 billion. I'd now like to turn the conference over to Purvi Kamdar. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. in Finance from the University of Dayton. Now with respect to our hedges, we added to our swap portfolio primarily in the front end and short-term swaps with pay rates close to 0% providing attractive hedge to our financing. Any forward-looking statements made during today's call are subject to certain risks and uncertainties including with respect to COVID-19 impacts, which are outlined in the risk factors section in our most recent annual and quarterly SEC filings. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Please go ahead. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). Please go ahead. Please disable your ad-blocker and refresh. 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). Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. Thanks David. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. But nonetheless it's a more balanced hedge profile now with a slight steepening bias and we took advantage of near zero rates at the front end of the curve, which we think has very limited downside potential in terms of those hedges losing money because it's not our view that we end up in a negative rate scenarios negative policy rate scenario that is. Please go ahead. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. David Finkelstein Net Worth, Biography, and Insider Trading 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. ANNALY CAPITAL MANAGEMENT Compensation by Company. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. 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 Will Others Follow? And everything you said the two words that stood out everything changes. 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.

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