Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. 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. The information shown here is a reporting of information included in the company's proxy statement. If you have an ad-blocker enabled you may be blocked from proceeding. Thanks Brendon for your help and we hope everybody stay safe. Annaly Capital Management, Inc. Publishes Third Corporate Total core income is used to buy, Eric. So is it fair to say that the repurchase will be part of the flaps in terms of using that excess earnings in the short term? And my other questions have been asked and answered. 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. A lot of that is driven by the tailwind from the fed and specialism and TBAs where our role income doubled over the quarter and it is currently existent today and if we look at past episodes it [indiscernible] persisted for some time. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. Prior to joining Annaly in April 2015, Mr. Campbell held various roles over six years at Fortress Investment Group LLC, including serving as a Managing Director in the Credit Funds business. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. from Loras College. Thanks for that. You may now disconnect. 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. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Wallmine is a radically better financial terminal. Ms. Williams has over 17 years of compensation and governance experience. Zwirn & Co., L.P. with a focus on credit and debt restructuring. 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. Chief Executive Officer, President and Director. All participants will be in a listen-only mode. This makes analysis regarding Cecil reserves particularly challenging. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. 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. [Operator Instructions] Please note this event is being recorded. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. 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. Annaly Capital Management, Inc. Publishes Second Corporate This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. Below are excerpts from my letter to shareholders, released April 7, 2021. 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. Mr. Green has over 20 years of experience in corporate and securities law. 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, Annaly: Profile and Biography 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. As the latest data indicates over 90% of renters made a full or partial rent payment as of June and in the office sector, although new leasing has slowed significantly, office REITs have reported strong rent recollections above 90% throughout the back end of the second quarter. 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. 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. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. david finkelstein annaly compensation - eztransport123.com Hey guys, this is actually Josh Bolton on for Doug. 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. from the University of Michigan and J.D. This concludes our question-and-answer session. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results After a pace of purchases at the height of the volatility to reach nearly $50 billion per day to help stabilize sector, that is transitioned to a steady run rate of $40 billion per month net of portfolio runoff, which on a gross basis equates to roughly 40% current agency issuance. Look, first of all I'll talk about the footprint and agency derivatives for example and what we're talking about here Eric is the difference between balance sheet leverage and instructional leverage. 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? Executive Officers | Annaly Capital 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. Board of Directors in ANNALY CAPITAL MANAGEMENT. So we set the dividend at $0.22 because we believe that to be the sustainable level for the foreseeable future as long as we had a lens into the horizon. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. 2022 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 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. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. In addition to her roles at KPMG, as a Native American Indian and member of the Ho-Chunk Nation Tribe, Dr. Hannan served on President George W. Bushs National Advisory Council on Indian Education. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. I wanted to talk a little bit about dividend policy. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. 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. In comparison our base case scenario was altered in a modest release of reserve, which we felt inappropriate given the continued economic uncertainty centered around the evolving pandemic. 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. David L. Finkelstein C.F.A. 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: . Mr. Finkelstein also holds the Chartered Financial Analyst designation. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . This underscores our belief that the stock is undervalued relative to our book value and affirms our support of the value of our stock through the various capital allocation tools we have on hand. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. And then our TBA balances roughly unchanged for the quarter and with respect to what we expect for the third quarter is likely to be in the proximity of where we were at for Q2 maybe a touch higher. 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. Mr. Votek has over 30 years of experience in financial services. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. David Finkelstein - Chief . Things do look I think positive generally, but just wondering how you guys think about downside risk from here? and LL.M. This button displays the currently selected search type. Consisting of $22 million of additional reserves during the quarter primarily resulting from the impacts of COVID-19 on our [indiscernible] and more general reserves related to forecast for a deterioration in economic conditions and market values of $46.8 million. Right. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. Serena Wolfe - CFO. The charts on this page feature a breakdown of the total annual pay for the top executives at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. So we like to see it flatten a little bit further and we think it should given the posture the fed and when you look at the last set of economic projections, so lift off not likely to occur for the next couple of years, you could see some further flattening in the term curve but we're watching it and we're making incremental steps to term out our repo. 212-333-3810 Serena Wolfe is Chief Financial Officer of Annaly. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. We feel good about where pools are at. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Stock Market | FinancialContent Business Page For example, government mandates at all levels have created an even greater dependency on technology while also driving demand and behavior in ways that has made once boring annuity business into growth sectors. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. Prior to joining Annaly in 2013 . Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. MSR has different structural aspects to it that make it very cheap, but nonetheless structural leverage is a little bit inferior right now to balance sheet leverage. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Okay. 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 David L. Finkelstein C.F.A. Net Worth (2022) | wallmine When I look this morning three month 10-year swaption was up 53 basis points. Annaly Capital Management, Inc. Names David L. Finkelstein Chief Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. On a more positive note, multifamily remained strong throughout the quarter. The reason why they appreciate is because there worth it. Insiders at Annaly Capital Management own 0.3% of the company. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. Annaly Capital Management, Inc. (NLY) CEO David Finkelstein on Q2 2020 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. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. As COO, Steve will expand on the work he's been doing as Head of Business Operations and work closely with the executive team to help oversee Annaly's overall operations and risk management functions. With the improved stability in the financial markets, we've seen an improvement of lenders appetite to finance credit assets particularly in the residential space in anticipation of the expiration of our FHLB membership in February of 2021, we're executing an offset financing strategy involving committed funding facilities for our residential credit business and as David mentioned, we maintain a strong presence in residential securitization market. 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. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. 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. 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 Co-Founder Wellington J. Denahan to Retire from the Board after As I mentioned last quarter, we expect to see more growth in this segment as markets continue to normalize and we are encouraged by the steady pace of securitization activity to support our asset generation strategy. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. The conference has now concluded. We also continue to take advantage of the attractive low levels of volatility to hedge the tail risk of a sharp rise in rates in the long end of the yield curve and as such, we replaced much of our legacy swaps in position with additional out of the money payers options. 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. Good morning and nice quarter guys. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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. Mr. Green holds a B.A. Chart Data in Insider Trading History Table. Last updated: 2 February 2023 at 6:03pm EST. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. All proxy statements are public filings made available to the general public by the SEC. We appropriately conservatively reserve for any what we think to be of any eventuality down out the horizon but there's idiosyncratic risk in every credit asset and so we feel good about it, but there could be one-off disruptions and so that's we're looking at as well. Thank you for attending today's presentation. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. 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. She is also a graduate of the Chicago Management Institute at the University of Chicago, Booth School of Business and the Institute of Comparative Political & Economic Systems at Georgetown University. Mr. Finkelstein has over 25 years of experience in fixed income investments. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine We add the incremental dollar role income to core income and then the outcome. 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. Learn More on David L. Finkelstein's salary. Annaly Capital Management, Inc. Announces Executive Management Mr. Schaefer received a B.B.A. Okay. Mr. Finkelstein received a B.A. Across sectors within commercial, the operating fundamentals remain challenged in hospitality as the average national occupancy rate hovers around 40% and in retail the prolonged shutdown and increasing number of retailer bankruptcies is continuing to weigh on that sector. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Thanks for joining us today and we'll talk to you soon. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. Ms. Bovich has a B.A. Actual events and results may differ materially from these forward-looking statements. ANNALY CAPITAL MANAGEMENT Compensation by Company. So we're very happy that the market picked up the slack and did a lot of that work. As a reminder, the impending model introduced by the new Cecil is based on expected losses rather than incurred losses, which was the previous management for reserve historically. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. in Economics and Political Science from the University of Pennsylvania and a J.D. 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. Mr. Finkelstein has over 25 years of experience in fixed income investments. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives.
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