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. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. in Finance from Florida State University. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Mr. Votek has over 30 years of experience in financial services. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. 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. Sean Kensil - Vice President, Investor Relations. 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. Mr. Campbell also worked at General Electric Capital Corporation and D.B. Enter your email address below to get our daily insider buying and selling report. My No. Mr. Finkelstein was appointed as Chief Executive Officer and elected to serve on the Board of Directors in March 2020. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. 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. Insiders at Annaly Capital Management own 0.3% of the company. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. 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. David Finkelstein - President, CEO & Director. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. in International and Comparative Law from Cornell Law School. When I look this morning three month 10-year swaption was up 53 basis points. Beyond just prepays is what happens to pool pricing over the next quarter or two. Learn More on Annaly Capital Management's active insiders. Coronavirus Tips Working and Protection. David Finkelstein - Chief . 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. 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. 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. 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. Please go ahead. 2014. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. from Loras College. 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. Financial Highlights GAAP net income (loss) of ($1.96) per average common share for the quarter; $3.93 per average common share for the full year 2022 Earnings available for distribution  Trustee. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. Mr. Finkelstein has over 25 years of experience in fixed income investments. David L. Finkelstein C.F.A. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. Information on this page was last updated on 6/17/2022. 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. Our next question comes from Rick Shane with JPMorgan. Learn More about David L. Finkelstein's net worth. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). As a result we ran numerous scenarios in excess of 20, to determine the appropriate amount of Cecil reserves to the quarter and ultimately booked reserves that were considerably more conservative than our base case scenario. The most recent insider tranaction occured on June, 17th when CEO David L Finkelstein bought 200,000 shares worth more than $1,112,000.00. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. There are no executives at Annaly Capital Management Inc getting paid more. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. 212-333-3810 Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Current positions of David Finkelstein. 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. . Just had a curiosity what are some things that you are concerned about or really looking closely at, you kind of in the end and immediate term. Current positions of David Finkelstein. 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 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: . Financial Highlights. We have to look at how attractive assets are and then put that in the context of where thee stock prices make a buyback decision based on that. 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. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. David L. Finkelstein is Chief Executive Officer and President of Annaly. This report is not for commercial use. From 1997 to 1998, Mr. Schaefer was Managing Director and Head of Strategic Planning and Capital Management at Morgan Stanley. This makes analysis regarding Cecil reserves particularly challenging. 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. Mr. Votek holds a B.S. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. 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. This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. 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. Reinvestment is a key criteria here. This information is according to proxy statements filed for the 2021 fiscal year. Of note, while last quarter each of our credit meters providing an in-depth look at their respective markets and portfolios to be efficient, I'll provide those updates today but as Purvi noted each of our business heads are here as well to join in Q&A. 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. 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. Compensation Ownership; David . 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. Click Here for Your Free Ultimate Dividend Package. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. 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. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . Hey how much did TBAs add to your net interest margin for the quarter? Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. Mr. Schaefer has over 40 years of financial services experience including serving as a member of the management committee of Morgan Stanley from 1998 through 2005. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Data Year: 2021. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. All participants will be in a listen-only mode. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. Ms. Williams has over 17 years of compensation and governance experience. 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. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. Please go ahead. Management Development and Compensation Committee (Chair)Audit Committee. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Please note today's event is being recorded. US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. Biography of David Finkelstein. 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. Is this happening to you frequently? 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. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. History of Analytic Philosophy. 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 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. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. There been some signs that the worst of the economic distress may be behind us although the recent surge in cases in some areas of the US demonstrates the fragile nature of the recovery. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. We feel good about where pools are at. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. Yes the TBA role provided about $97.5 million post NIM for the quarter. The conference has now concluded. 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. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. 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. PHIL 21505/31505 Wonder, Magic, and Skepticism. Ms. Williams has over 17 years of compensation and governance experience. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. He began his investment banking career at E.F. Hutton & Company in 1976. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. in Finance from the University of Dayton. 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.