david finkelstein annaly compensationdavid finkelstein annaly compensation

Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. Learn More on David L. Finkelstein's salary. 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. 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. Please disable your ad-blocker and refresh. [Operator Instructions] After todays presentation, there will be an opportunity to ask questions. 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. Mar 16, 2020. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. So we're very happy that the market picked up the slack and did a lot of that work. Chart Data in Insider Trading History Table. Learn More on Annaly Capital Management's active insiders. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. in Finance from Florida State University. 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. At the time we started quarter with a swap portfolio of about nine odd years I believe, now given how long that portfolio is in duration as we mentioned last quarter provides multiples of interest rate protection relative to the assets, which are much shorter in duration. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Please go ahead. 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. PHIL 21505/31505 Wonder, Magic, and Skepticism. Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. My No. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. Management Development and Compensation Committee (Chair)Audit Committee. Click Here for Your Free Ultimate Dividend Package. 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. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. 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. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. david finkelstein annaly compensationmostar bridge jump injuries. NEW YORK--(BUSINESS WIRE)-- Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. 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. [Operator instructions] Our first question comes from Eric Hagen with KBW. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. This button displays the currently selected search type. Prior to joining Annaly in 2013 . Mr. Reeves is a member of the Henry Crown Fellows at the Aspen Institute and was honored as a Chicago United Business Leader of Color. Wallmine is a radically better financial terminal. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. So it's not an apples-to-apples comparison. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. Annalys 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. Nevertheless, financial conditions have improved considerably. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. Learn More on David L. Finkelstein's contact information. New deal activity is primarily relegated to more broadly syndicated loans however, the context first lien executions on larger transactions have tightened 75 basis points to 100 basis points over the past quarter, while traditional middle-market has shown less movement in pricing. 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. This concludes our question-and-answer session. 1-888-8Annaly 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. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. You may also find the annual proxy statement by going directly to the company's website. Mr. Green has over 20 years of experience in corporate and securities law. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Right. 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. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. 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. 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. 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. 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. Okay. 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. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. Financial Highlights. from the University of Michigan and J.D. In fact some of our industry concentrations have maturely benefited from the current environment. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. 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. Participants on this morning's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Head of Residential Credit; Tim Gallagher, Head of Commercial Real Estate; Tim Coffey, Chief Credit Officer and Ilker Ertas, Head of Securitized Products. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. 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. We add the incremental dollar role income to core income and then the outcome. 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. 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. from Bowdoin College and a M.B.A. from the University of Connecticut. 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. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. 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. 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. Appreciate the color. Ms. Williams has over 17 years of compensation and governance experience. And that's exactly right. 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. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. If you have an ad-blocker enabled you may be blocked from proceeding. 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). Consequently, we reduced leverage during the quarter from 6.8 times to 6.4 times and made the prudent decision to set our quarterly dividend at $0.22. 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. 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. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. The information shown here is a reporting of information included in the company's proxy statement. Mr. David L. Finkelstein C.F.A. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. Steven F. Campbell is President and Chief Operating Officer of Annaly. 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 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. Is it picked up in your asset yield or your funding costs or both? Last updated: 2 February 2023 at 6:03pm EST. 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. Coronavirus Tips Working and Protection. And with that I'll turn the call over to David. Insiders at Annaly Capital Management own 0.3% of the company. 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. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Our next question comes from Doug Harter with Credit Suisse. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. 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 . I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. Will His AI Plans Be Any Different? And to repo financing remains ample. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 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. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. 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 . This report is not for commercial use. Current positions of David Finkelstein. 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. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. Alex Yankus 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. Okay. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. Investor Relations Does that answer your question? Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. Learn More on David L. Finkelstein's salary. In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Biden Closes In on Order to Restrict US Investment in China Tech, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. History of Analytic Philosophy. Mr. Hamilton received a B.S. 2020. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. Ms. Bovich has a B.A. 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. . And now with that, I'll hand it over to Serena to discuss the financials. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . The most recent stock trade was executed by Anthony C Green on 1 February 2023, trading 1,584 units of NLY stock currently worth $32,203. 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. 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. This report is not for commercial use. All participants will be in a listen-only mode. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. And with that, I'll turn it over to operator for questions. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its second corporate responsibility report for the year 2020, titled Leading with Purpose.The report demonstrates Annaly's continued focus on environmental, social and governance ("ESG") endeavors and provides an update on Annaly's ESG goals and commitments. 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.

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