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. Following the completion of the transaction, the chief executive officer now directly owns 1,669,013 shares of the company's stock, valued at $9,279,712.28. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation . You may also find the annual proxy statement by going directly to the company's website. 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. 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. Annaly Capital Management, Inc. Names David L. Finkelstein Chief 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. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Great. 2015. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. 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. Okay. During this call, we may present both GAAP and non-GAAP financial measures. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. PHIL 21505/31505 Wonder, Magic, and Skepticism. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. 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. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. 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 has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. ANNALY CAPITAL MANAGEMENT Executive Salaries & Other Compensation And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. For the agency derivatives portfolio, I realized you guys maybe [indiscernible] surface very often, but how much of your cost basis was amortized through core earnings in that portfolio last quarter and then with rates having coming down quite a bit, presumably some of those assets are cheap and how are you guys thinking about your footprint in that portfolio? All proxy statements are public filings made available to the general public by the SEC. With respect to the incremental benefit of the TBA position for the second quarter, I'll say I think the actual dollar contribution or in pennies was about $0.07 and with respect to the NIM contribution, Serena you can. NCG Committee (Chair)Corporate Responsibility Committee. in Finance from the University of Dayton. Mr. Finkelstein has over 25 years of experience in fixed income investments. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. 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 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. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. 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. david finkelstein annaly compensation Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. And to repo financing remains ample. 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. Ms. Bovich is a member of The Economic Club of New York, and an emeritus trustee of Connecticut College and a Member of the Investment Sub-Committee for its endowment. Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Actual events and results may differ materially from these forward-looking statements. investor@annaly.com, Brunswick Group 2022 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 we don't expect a meaningful increase in agency, but over the near term you can see a small uptick. 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. Our residential portfolio was roughly unchanged quarter-over-quarter at $2.6 billion as modest purchases and mark-to-market increases largely offset sales and portfolio runoff. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . 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. Financial Highlights. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. 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. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . David Finkelstein | Department of Philosophy david finkelstein annaly compensation - eztransport123.com ANNALY@brunswickgroup.com, Navigate to the << Back to Okay. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. As Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT, David L. Finkelstein made $9,138,764 in total compensation. Please go ahead. 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. David L. Finkelstein C.F.A. Everyone at Annaly contributes to our success and we're proud of the results that we've reported for the second quarter and expect to continue providing best in class results for our shareholders. from Loras College. Learn More on David L. Finkelstein's trading history. and LL.M. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Trustee. Prior to joining Annaly in 2013 . There are 11 older and 9 younger executives at Annaly Capital Management Inc. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. Last updated: 1 March 2023 at 11:00am EST. 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. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine Is it picked up in your asset yield or your funding costs or both? See David L Finkelstein's compensation, career history, education, & memberships. And with that, I'll turn it over to operator for questions. Turning to earnings, the largest factor quarter-over-quarter to quote an ex-PAA will lower interest expense of $186 million versus $503 million in the prior quarter due to lower average repo rates and balances as well as higher TBA [indiscernible] income of $96 million versus $44 million in the prior quarter, due to higher average balances partially offset by higher expense from the net interest component of interest-rate swaps of $65 million visits $14 million in the prior quarter and higher average balance. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. 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. in Economics from Connecticut College and an M.B.A. in Finance from New York University. 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. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . The report demonstrates Annaly's continued focus on setting and measuring progress on . June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe 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. Ms. Williams received a B.S. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. david finkelstein annaly compensation. Mr. David L. Finkelstein C.F.A. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. Mr. Campbell currently serves on the Advisory Board for the Fitzgerald Institute of Real Estate at the University of Notre Dame. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. Current positions of David Finkelstein. 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 [] 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.
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