Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. 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. 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. Click here to read the full letter and more from Annaly's 2020 Annual Report. David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. There are no executives at Annaly Capital Management Inc getting paid more. Biography of David Finkelstein. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. 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. 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. Okay. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. 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. Prior to the 1997 merger of Dean Witter, Discover and Morgan Stanley, Mr. Schaefer was Executive Vice President, Investment Banking and Head of Corporate Finance at Dean Witter, a position he had held since 1991. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. 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. 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. 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. 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. Mr. . Thanks David. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Is this happening to you frequently? Select Other Years 2007 2006 For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following executives on its annual proxy statement to the SEC . Information on this page was last updated on 6/17/2022. 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. 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. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . from the Ohio State University. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") announced today the Board of Directors (the "Board") has elected David L. Finkelstein as its Chief Executive Officer and a . David Finkelstein - Chief . There was a depreciation in the amount on the balance sheet of MSR, half of which was amortization and the other half of which was the multiple compression. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Please note today's event is being recorded. Ms. Denahan has a B.S. In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. I would like to turn the conference back over to David Finkelstein for any closing remarks. Hey guys, this is actually Josh Bolton on for Doug. 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. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. was elected to serve as an independent director of Annaly in February 2019. 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. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group . 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. California Weighs $360,000 in Reparations to Eligible Black Residents. 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. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. So right now balance sheet leverage pools of finance through the repo market is more attractive than structural leverage meaning derivatives who when I say structural leverage I mean an asset whose outcome is dependent on a larger asset like derivatives are. You may also find the annual proxy statement by going directly to the company's website. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? Thank you for attending today's presentation. And did you guys say what your book value was through July? The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. Financial Highlights GAAP net income of $1.37 per average common share for the quarter Earnings available for distribution ("EAD") of $0.28 per average common share for the quarter; unchanged from the prior . Ms. Williams has over 17 years of compensation and governance experience. I'd now like to turn the conference over to Purvi Kamdar. 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. 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. No, I think I understand. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. Chief Executive Officer, President and Director. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Okay. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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. 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 On a more positive note, multifamily remained strong throughout the quarter. Chief Corporate OfficerChief Legal Officer. 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. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. We add the incremental dollar role income to core income and then the outcome. 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. in Finance and Economics from Kean University/University of Arizona, a M.B.A in Finance from Rutgers University and attended the Executive Education Program of the Colgate W. Darden Graduate School of Business Administration at the University of Virginia. 2020. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. 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. David Finkelstein interviewed on WBEZ's "Odyssey" Recent Courses PHIL 50212 Late Wittgenstein: The Absolute Basics for The Confused, Skeptical, and Ignorant (IV) David Finkelstein. And as a consequence of that portfolio, we did see a fair amount of appreciation in those pools in the second quarter as markets stabilize and that is one of the risks I think going forward. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. David Finkelstein, Annaly's Chief Executive Officer and Chief Investment Officer, commented: "Since 1997, Annaly has become the largest mortgage REIT in the world and delivered $24 billion in dividends to our shareholders in a variety of interest rate and economic conditions. Hey how much did TBAs add to your net interest margin for the quarter? david finkelstein annaly compensationgetting married in tanzania. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. 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 A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . 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. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation 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. Learn More about insider trades at Annaly Capital Management. There are 11 older and 9 younger executives at Annaly Capital Management Inc. 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: . Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. in Finance from Florida State University. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. Please go ahead. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. It's been relatively calm. Our goal has been to maintain optimal liquidity thresholds and to manage the portfolio within conservative risk parameters to produce the highest level of quality earnings in this market environment. Mr. Finkelstein has 25 years of experience in fixed income investments. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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 He began his career in 1979 in the commercial lending program at Philadelphia National Bank. 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. Our next question comes from Kenneth Lee with RBC Capital Markets. Mr. David L. Finkelstein C.F.A. 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. None of Annaly's achievements would have been possible without . As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. Okay. 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. 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. Prior to the merger, Mr. Hamilton had served as Chairman of the Board of Chondrial Therapeutics, Inc., a biotechnology company he started to cure a rare neurodegenerative disease called Friedreichs Ataxia, since 2013. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Annaly Capital Management, Inc. (NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET, David Finkelstein - CEO & Chief Investment Officer, Tim Gallagher - Head, Commercial Real Estate.

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