david finkelstein annaly compensation

It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. Overall we feel good about conservative positioning in the portfolio across sectors and the strength of our relationships with best in class sponsors and operating partners to mitigate in further disruption. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? 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. 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? 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. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe No, it is not reflected in the funding cost. 2014. And now with that, I'll hand it over to Serena to discuss the financials. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group of the Federal Reserve Bank of New York where he was the primary strategist and policy advisor for the MBS Purchase Program. You may now disconnect. In fact some of our industry concentrations have maturely benefited from the current environment. 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. No, I think I understand. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. As always we spent time analyzing the results of the reserve calculations and ensuring our expectations align with the quality of the portfolio and the performance of the borrowers. Right. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Thank you. 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. So first of all with respect to the repositioning, what we experienced in the quarter was initially a pretty insignificant steepening of the curve, which we anticipated I think got to roughly 20 basis points to 25 basis points higher than it was now. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. The company was founded by Michael A. J. Farrell and Wellington Jamie Denahan-Norris on February 18, 1997 and is headquartered in New York, NY. But when we think about reinvestment into for example, pools where we see the levered returns on agency MBS is in the context of 11% to 12% maybe a little bit higher and so as we look at the dividend right now at 10.5% yield on book value the reinvestment of agency runoff is perfectly consistent with that longer-term more steady-state level assuming rates in this context, but keep in mind we do have this near-term tailwind of specialness and some other factors that are beneficial to the portfolio where were out-earning the dividend this quarter. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . So we're very happy that the market picked up the slack and did a lot of that work. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. 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. Okay. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. California Weighs $360,000 in Reparations to Eligible Black Residents. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. Please go ahead. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. I'd now like to turn the conference over to Purvi Kamdar. Please go ahead. from the University of Michigan and J.D. This makes analysis regarding Cecil reserves particularly challenging. 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. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Mr. Green has over 20 years of experience in corporate and securities law. None of Annaly's achievements would have been possible without . 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. 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. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). in Finance from the University of Dayton. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Learn More on David L. Finkelstein's contact information. Mr. Hamilton received a B.S. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. Okay. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The report demonstrates Annalys continued focus on setting and measuring progress on environmental, social and governance (ESG) goals, as well as its commitment to providing increased disclosure and transparency. Mr. Haylon has served as a Managing Director at Conning, Inc. since January 2012 and previously served as Head of Asset Management Sales, Products and Marketing from December 2014 until June 2018 and as Head of Investment Products from January 2012 until December 2014. 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. Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. Mr. Reeves received his B.A. Mr. Finkelstein has over 25 years of experience in fixed income investments. david finkelstein annaly compensationmostar bridge jump injuries. Great. NCG Committee (Chair)Corporate Responsibility Committee. 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. The Mortgage Servicing Rights group provides the right to service residential mortgage loans in exchange for a portion of the interest payments made on the loans. 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. 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. 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. 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. 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. Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. See David L Finkelstein's compensation, career history, education, & memberships. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. 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. The market dysfunction that occurred amid the initial COVID outbreak in the US has dissipated and we have seen significant improvement in liquidity and asset pricing. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. So we feel good about it. 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. in Finance from Florida State University. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 2022 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. Please go ahead. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Our next question comes from Doug Harter with Credit Suisse. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. 1-888-8Annaly And with that, I'll turn it over to operator for questions. 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. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. Okay. 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. 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. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . GAAP net income (loss . Musk Made a Mess at Twitter. Coronavirus Tips Working and Protection. 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. 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. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. Highlights and achievements from the 2021 Corporate Responsibility Report include: To learn more about Annalys corporate responsibility initiatives and to view the 2021 Corporate Responsibility Report, please visit www.annaly.com/our-responsibility. Please go ahead. Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. This is in large part due to the ongoing decisive actions taken by the Federal Reserve, which have been successful in restoring markets and easing credit strains. was elected to serve as an independent director of Annaly in February 2019. He joined the firm in 2013 and assumed the role of Chief Investment Officer in 2016. Thanks Brendon for your help and we hope everybody stay safe. Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). 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. Mr. Green holds a B.A. 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. There are no executives at Annaly Capital Management Inc getting paid more. 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. and LL.M. And did you guys say what your book value was through July? Hey guys, this is actually Josh Bolton on for Doug. He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Total core income is used to buy, Eric. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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 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. Compensation Ownership; 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. 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? Chief Executive OfficerChief Investment Officer. Mr. Finkelstein also holds the Chartered Financial Analyst designation. The chart on this page features a breakdown of the total annual pay for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. in International and Comparative Law from Cornell Law School. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . Hey how much did TBAs add to your net interest margin for the quarter? As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Yes the TBA role provided about $97.5 million post NIM for the quarter. Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. David Finkelstein - President, CEO & Director. 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. 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. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. 212-333-3810 Mr. Campbell also worked at General Electric Capital Corporation and D.B. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. 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. They purchased a total of 200,000 shares worth more than $1,112,000.00. In terms of how it's actually reflected in the yield it's not. Please. 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: . Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. And everything you said the two words that stood out everything changes. 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. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. Thanks for joining us today and we'll talk to you soon. So thank you, guys. Thanks. 1 dividend stock for a LIFETIME of income. 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. Wallmine is a radically better financial terminal. 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. 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. There are no executives at Annaly Capital Management Inc getting paid more. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Athletes' ambitions don't end when they leave the field of play. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . Mr. Haylon has served as Managing Director and Head of Conning North America at Conning, Inc., a global provider of investment management solutions, services and research to the insurance industry, since June 2018. And to repo financing remains ample. 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. 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. [Operator instructions] Our first question comes from Eric Hagen with KBW. This report is not for commercial use. Now that being said, we are starting to get through this phase 2 as I mentioned last quarter where it's really about recalibrating each portfolio in the business and making sure we're optimizing each of the businesses and we're starting to get a better look at how things are going to unfold and we're seeing opportunities in credit and we're very strong constructive and it just may take a little bit of time to make sure we have the right approach and we have complete clarity on how things are going to play out. Jun 09, 2022. So it's reflected in your funding cost. We add the incremental dollar role income to core income and then the outcome. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. There are 11 older and 9 younger executives at Annaly Capital Management Inc. And my other questions have been asked and answered. 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. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Will His AI Plans Be Any Different? The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. This report is not for commercial use. 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. Good morning and nice quarter guys. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. The report demonstrates Annaly's continued focus on setting and measuring progress on . Last updated: 1 March 2023 at 11:00am EST. Learn More about David L. Finkelstein's net worth. All proxy statements are public filings made available to the general public by the SEC. 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. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Okay. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. Ms. Denahan has a B.S. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Learn More about David L. Finkelstein's net worth. So it's not an apples-to-apples comparison. 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 is Chief Executive Officer and Chief Investment Officer of Annaly. When I look this morning three month 10-year swaption was up 53 basis points. Thank you for attending today's presentation. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. Please disable your ad-blocker and refresh. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f

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