That has largely taken delivery of the most negatively convex MBS, which has resulted in a shift to the TBA deliverable across production coupons to more newly originated pools and as a result, nominal carry on production coupons TBAs has improved dramatically thereby adding to returns for TBA holders. 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. Stock Market | Pittsburgh Post-Gazette In terms of how it's actually reflected in the yield it's not. Learn More on Annaly Capital Management's active insiders. Annaly intends to use our webpage as a means of disclosing material non-public information for complying with the company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Is it picked up in your asset yield or your funding costs or both? The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. So we feel good about it. Kathy Hopinkah Hannan, Ph.D., C.P.A. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. Investor Relations 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. David Finkelstein | AFL-CIO 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. 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. Biography of David Finkelstein. Learn More on Annaly Capital Management's active insiders. 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. david finkelstein annaly compensationgetting married in tanzania. No, I think I understand. 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. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. We were certainly careful to take prudent steps during the early phase of the market recovery to ensure we are well positioned to capitalize on the opportunities that are sure to arise. 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. Chief Executive OfficerChief Investment Officer. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. This report is not for commercial use. Mr. Finkelstein also holds the Chartered Financial Analyst designation. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Chief Executive OfficerChief Investment Officer. Learn More on David L. Finkelstein's trading history. Please go ahead. 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. Beyond just prepays is what happens to pool pricing over the next quarter or two. It did get below that level in early 2019 to about 49 basis points and then the last time prior to that was 2017 and before that it was pre-crisis. Last quarter I noted that most of assets and liabilities are at fair value and that our book value decline was not a function of post asset sales but rather unrealized mark-to-market losses with potential for recruitment. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Mr. . . David L. Finkelstein Chief Executive Officer, President and Director: Dr. Hannan is a former Global Lead Partner, National Managing Partner and Vice Chairman of KPMG, LLP, the U.S. member firm of the global audit, tax and advisory services firm KPMG International. 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. Prior to joining Annaly in 2013 . In the last twelve months, Annaly Capital Management insiders bought shares 1 times. The average price of those shares was I believe $6.30 or meaningfully above that level now. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Click Here for Your Free Ultimate Dividend Package. Mr. Hamilton received a B.S. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Annaly Capital Management, Inc. Publishes Third Corporate You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. Learn More about David L. Finkelstein's net worth. All participants will be in a listen-only mode. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. 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). Hey how much did TBAs add to your net interest margin for the quarter? Ms. Williams received a B.S. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Thanks David. 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. Non-agency securities across legacy CRT jumbo 2.0 and non-QN have seen substantial recovery. Chief Executive Officer, President and Director. 212-333-3810 Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. from the University of Michigan and J.D. 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. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Risk Factors in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. 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 No, it is not reflected in the funding cost. Ms. Bovich is a member of The Economic Club of New York, and an emeritus trustee of Connecticut College and a Member of the Investment Sub-Committee for its endowment. Glenn has been an invaluable part of our leadership team and we thank him for his numerous contributions over the years and look forward to his continuing service on our board. Please go ahead. I am pleased to share all that we have accomplished in 2021, including enhancing the Companys executive compensation program, expanding our parental leave and fertility benefits and providing additional climate-related disclosures. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. The information shown here is a reporting of information included in the company's proxy statement. 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. Executive Officers | Annaly Capital Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f Actual events and results may differ materially from these forward-looking statements. 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. Learn More on David L. Finkelstein's contact information. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. 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. Thanks for joining us today and we'll talk to you soon. 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. Annaly Capital Management, Inc. (NLY) CEO David Finkelstein on Q2 2020 David L. Finkelstein C.F.A. Net Worth (2023) | wallmine David L. Finkelstein C.F.A. Net Worth The estimated Net Worth of David L Finkelstein is at least 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. The conference has now concluded. 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. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. He served as Senior Advisor to Annaly from March 2020 to August 2020 after serving as Interim Chief Executive Officer and President of Annaly from November 2019 to March 2020. 1-888-8Annaly The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Please go ahead. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. 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. You may also find the annual proxy statement by going directly to the company's website. in International and Comparative Law from Cornell Law School. And finally shifting to our outlook, as we think about our capital allocation out of the horizon, we've been focused on preserving flexibility given uncertainty in the greater economy related to COVID shutdown. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. 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. . 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. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. We continue to think it critical in the current environment to consider the address economic scenarios available in this process and to err on the side of conservatism given a significant uncertainty in the economic and market values scenarios. 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. There are no executives at Annaly Capital Management Inc getting paid more. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. 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. Despite the challenging environment, we're pleased with how the portfolio has performed during the period ending the quarter essentially unchanged at $2.2 billion in assets. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. david finkelstein annaly compensation 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. And everything you said the two words that stood out everything changes. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. 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 Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. Right. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. From 1980 until 1984, he was a Senior Financial Analyst at Travelers Insurance Companies. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. david finkelstein annaly compensationmostar bridge jump injuries. It's been relatively calm. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. Our next question comes from Doug Harter with Credit Suisse. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . 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. Okay. Current positions of David Finkelstein. 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. david finkelstein annaly compensation. Today I'd like to highlight a number of current corporate initiatives, provide an update on the market and discuss portfolio activity across our core business during the quarter and finally provide our outlook for the balance of the year and then I'll hand it off to Serena to discuss the financials. David Finkelstein - conference-board.org Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. 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. . While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants.
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