david finkelstein annaly compensation

The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. [Operator instructions] Our first question comes from Eric Hagen with KBW. He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. Chief Corporate OfficerChief Legal Officer. Mr. Reeves received his B.A. 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. While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. Thanks for joining us today and we'll talk to you soon. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. 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. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. Learn More on David L. Finkelstein's trading history. Compensation Information for David L. Finkelstein, Chief Executive He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. 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. Will His AI Plans Be Any Different? Learn More about David L. Finkelstein's net worth. 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). Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. 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. Biography of David Finkelstein. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Current positions of David Finkelstein. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). Mr. Finkelstein received a B.A. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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. David you had in your comments suggested that Q3 earnings core earnings are on track to exceed the dividend again and I'm curious when you guys think about dividend policy, currently your ROEs are very high. David L. Finkelstein C.F.A. Learn More about David L. Finkelstein's net worth. 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. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. Learn More on David L. Finkelstein's trading history. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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 . Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. 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. David L. Finkelstein C.F.A. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. Mr. Finkelstein received a B.A. Learn More on David L. Finkelstein's salary. The report demonstrates Annaly's continued focus on setting and measuring progress on . So given the slope of the curve, given the significant decrease in front end OIS rates to zero roughly, we took the opportunity to add hedges and move down the curve and better balance out the hedge profile to bring the average life to about half what it was at the end of the first quarter and it's still about twice the duration may be a little bit more than twice the duration of the asset portfolio currently, but at 40% hedge ratio being more -- a little bit over twice the duration you get to roughly 80% to 90% may be a little bit more interest rate protection assuming a parallel shift in the curve with a still slight steepening bias which we think is the appropriate approach. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. No, it is not reflected in the funding cost. So it's reflected in your funding cost. 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. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. Zwirn & Co., L.P. with a focus on credit and debt restructuring. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Musk Made a Mess at Twitter. This report is not for commercial use. 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. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. Mr. Reeves has also served as General Counsel & Secretary of The Duchossois Group, a family-owned holding company comprised of diversified operating companies and DCM, since 2007 and its Chief Administrative Officer since 2017. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. California Weighs $360,000 in Reparations to Eligible Black Residents. Sean Kensil - Vice President, Investor Relations. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. Learn More on Annaly Capital Management's active insiders. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. David L Finkelstein, Annaly: Profile and Biography Learn More on Annaly Capital Management's active insiders. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. 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. 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. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe 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. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. Thanks for that. Ms. Denahan has a B.S. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Now of additional note with respect to our direct lending portfolios, we have taken what we believe to be a very conservative approach regarding reserves and Cecil adjustment which Serena will discuss in further detail. During this call, we may present both GAAP and non-GAAP financial measures. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. This reduced our pay rate as well as shorten the maturity of our swap portfolio. Yes the TBA role provided about $97.5 million post NIM for the quarter. We feel good about where pools are at. Reinvestment is a key criteria here. While our allocation agency may increase modestly, we do continue to evaluate opportunities to deploy capital across our three credit businesses and we are beginning to develop the better lends into how each credit sector is evolving and we expect to shift to a more offensive posture in the coming months as we gain more clarity on the economic and real estate landscape. 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. 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 actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. 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? 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. On the financing side, our weighted average cost of borrowing decreased by roughly 60 basis points to 2.7% driven largely by a reduction in LIBOR given the fed cuts. Liquidity tools have sufficiently supported funding markets and credit facilities have opened channels to credit for businesses, households and local governments, the temporary adjustments to regulations have somewhat encouraged bank lending and most impactful to Annaly's portfolio the asset purchases have supported the smooth functioning of treasury and agency markets. 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. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. 2020. He began his investment banking career at E.F. Hutton & Company in 1976. Beyond just prepays is what happens to pool pricing over the next quarter or two. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. 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. On average, Mr trades about 51,067 units every 152 days since 2016. Mr. Finkelstein also holds the Chartered Financial Analyst designation. investor@annaly.com, Brunswick Group David L. Finkelstein C.F.A. Chart Data in Insider Trading History Table. Nov 07, 2016. Right. Following the completion of the transaction, the chief executive officer now directly owns 1,669,013 shares of the company's stock, valued at $9,279,712.28. You may also find the annual proxy statement by going directly to the company's website. 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. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. 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. 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. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. All proxy statements are public filings made available to the general public by the SEC. 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. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. Nevertheless, financial conditions have improved considerably. 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. Annaly Capital Management, Inc. Publishes Third Corporate Overall, we maintained a more constructive view of the operating environment and our ability to deliver compelling returns as each of our businesses respected sectors begins to emerge from the initial volatility and destruction caused by the pandemic. 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. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. 1-888-8Annaly Hey how much did TBAs add to your net interest margin for the quarter? 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. 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. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. 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 Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . Ms. Bovich has a B.A. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. Donnell A. Segalas Concludes his Service as a Member of the Board of 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. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Our next question comes from Doug Harter with Credit Suisse. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. This report is not for commercial use. 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. 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. 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. 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. 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. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. Kathy Hopinkah Hannan, Ph.D., C.P.A. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. There are 11 older and 9 younger executives at Annaly Capital Management Inc. The average price of those shares was I believe $6.30 or meaningfully above that level now. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. Information on this page was last updated on 6/17/2022. 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 . 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