Below are excerpts from my letter to shareholders, released April 7, 2021. There are no executives at Annaly Capital Management Inc getting paid more. In fact some of our industry concentrations have maturely benefited from the current environment. 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. 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. Mr. Green has over 20 years of experience in corporate and securities law. While our portfolio speech did experience an increase on the quarter, prepays on our overall portfolio were notably lower than the GSE universe, which paid roughly eight CPR faster despite the higher average coupon of our portfolio relative to the universe. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. Ms. Bovich has over 30 years of investment management experience lastly serving as a Managing Director of Morgan Stanley Investment Management from 1993 through 2010. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Kathy Hopinkah Hannan, Ph.D., C.P.A. Hey how much did TBAs add to your net interest margin for the quarter? And now with that, I'll hand it over to Serena to discuss the financials. Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. Mr. Finkelstein received a B.A. 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. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Okay. investor@annaly.com, Brunswick Group 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. None of Annaly's achievements would have been possible without . We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. Learn More on David L. Finkelstein's salary. Learn More on David L. Finkelstein's salary. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management.
Maurion Davis on LinkedIn: #leader #citibank Okay. In terms of how it's actually reflected in the yield it's not. 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. 2014. Click here to read the full letter and more from Annaly's 2020 Annual Report. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice.
Annaly Capital Management, Inc. Publishes Third Corporate Ms. Williams has over 17 years of compensation and governance experience. Please go ahead. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. 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. Now of additional note with respect to our direct lending portfolios, we have taken what we believe to be a very conservative approach regarding reserves and Cecil adjustment which Serena will discuss in further detail. 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? David L. Finkelstein is President, Chief Executive Officer & Director at 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. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). biography. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT.
Thank you. 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. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. 2020. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . I'd now like to turn the conference over to Purvi Kamdar. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. 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.
Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. Great. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. See David L Finkelstein's compensation, career history, education, & memberships.
David Finkelstein | Department of Philosophy Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. in Finance from the University of Dayton. 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.
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. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. So thank you, guys. And my other questions have been asked and answered. 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.
David Finkelstein - Biography - MarketScreener.com Donnell A. Segalas Concludes his Service as a Member of the Board of Board of Directors in ANNALY CAPITAL MANAGEMENT. 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. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Biography of David Finkelstein. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. 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. 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. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee.
David L. Finkelstein C.F.A. Net Worth (2022) | wallmine Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. Okay. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. 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. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. 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).
David Finkelstein | Committee for Economic Development of The In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital Management Inc. Mr has made over 11 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Investor Relations We have entered a more normalized environment with fed action serving as a key driver and spreads have retraced much the widening experienced in March we do remain positive on the sector given ample funding availability at low rates due to rate volatility and a complete reversal of an inferior technical backdrop that characterizes sector at the outset of this year. And did you guys say what your book value was through July? 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. Okay. 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. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. . Prior to joining Annaly in 2013 . The report demonstrates Annaly's continued focus on setting and measuring progress on . In the last twelve months, Annaly Capital Management insiders bought shares 1 times. ANNALY CAPITAL MANAGEMENT Compensation by Company. Unit tranches and second lean loans within middle-market are experiencing more notable price discovery than its larger market blathering and we expect these gaps to remain as traditional middle-market participants grapple with their portfolios. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Is it picked up in your asset yield or your funding costs or both? Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Yeah it depends on the shape of the curve, like over the last couple of months, the term structure of repo has flattened pretty considerably, which has enabled us to extend out curve at very attractive rate. 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. 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. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. 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. Coronavirus Tips Working and Protection. Learn More about David L. Finkelstein's net worth. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. 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. 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.
Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results Mr. Votek has over 30 years of experience in financial services. 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. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. 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. 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. 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. Our next question comes from Rick Shane with JPMorgan. Is this special mix reflected in both the asset yield and the cost of funds and then how big is your TBA balance now versus the end of June? 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. and LL.M. Mr. Schaefer received a B.B.A. You may also find the annual proxy statement by going directly to the company's website. We further reduced the LIBOR footprint of our hedge portfolio with our swap now 80% in OIS and we reinitiated our treasury future short position that was unwound in the first quarter. Shifting to middle-market lending, activity has also picked up as of late as spreads have tightened and sponsors have refinanced transactions that have exhibited improving underlying leverage profiles. Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. However, non-agency lending has been somewhat slow to redevelop as credit standards have tightened relative to pre-pandemic underwriting and mortgage originators tend to focused more on agency originations in light of fewer frictions in a wide primary secondary spread. Any forward-looking statements made during today's call are subject to certain risks and uncertainties including with respect to COVID-19 impacts, which are outlined in the risk factors section in our most recent annual and quarterly SEC filings. 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. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . in Finance from Florida State University. 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. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. Mr. Hamilton has served as a Director of Larimar Therapeutics, Inc., a clinical-stage biotechnology company focused on developing treatments for rare complex diseases, since May 2020 when Chondrial Therapeutics, Inc. merged with Zafgen, Inc. and the combined company began operating as Larimar. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. Serena Wolfe is Chief Financial Officer of Annaly. Mr. Finkelstein also holds the Chartered Financial Analyst designation.
david finkelstein annaly compensation Data Year: 2021. This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. Ms. Williams received a B.S. 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. 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.
Annaly Capital Management, Inc. Publishes Second Corporate Annaly Capital Management, Inc. Publishes Third Corporate 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. And that's exactly right. 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.
david finkelstein annaly compensation All participants will be in a listen-only mode. June 30, 2022 . Ms. Williams has over 17 years of compensation and governance experience. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Most recently, Mr. Hamilton served as a Strategic Advisor to the Global Head of Fixed Income, Currencies and Commodities at Barclays Capital in New York. David L. Finkelstein C.F.A. As David mentioned earlier, the stabilizing actions of the Fed coupled with our active portfolio management resulted in improved fed value of our agency assets and significant improvement in financial performance. Last updated: 2 February 2023 at 6:03pm EST. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. 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. in Economics from Connecticut College and an M.B.A. in Finance from New York University. 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. Now with respect to our hedges, we added to our swap portfolio primarily in the front end and short-term swaps with pay rates close to 0% providing attractive hedge to our financing. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Mr. Finkelstein has over 25 years of experience in fixed income investments. Current positions of David Finkelstein. 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. All proxy statements are public filings made available to the general public by the SEC. 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. 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. None of Annaly's achievements would have been possible without . So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. And prepay is obviously being the uncertainty and the risk which we I don't think you heard a lot about I'm sure this quarter and I think we managed prepay risk as well as anybody. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock.
Stock Market | FinancialContent Business Page I think that's probably the best description of what we brought them through the shares. 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. 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. 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. Wallmine is a radically better financial terminal. 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. 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. Additionally, the report incorporates summary ESG metrics for the past three years, which include further details on the composition of Annalys Board of Directors and employees, philanthropy and volunteerism efforts and environmental indicators. 25. times its median employee's .
Annaly Capital Management, Inc. Reports 1st Quarter 2022 Results - Wire19 Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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 A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . 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.