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. Please go ahead. 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. Annaly Capital Management, Inc. Names David L. Finkelstein Chief We do not undertake and specifically disclaim any obligation to update or revise this information. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media conglomerate, since July 2018, where she is responsible for the companys global human resources function, including compensation, benefits, development and learning, talent acquisition, executive search, HR systems, and the HR service center. 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. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. Kathy Hopinkah Hannan, Ph.D., C.P.A. 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. 1-888-8Annaly For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. Annaly Capital Management, Inc. (NLY) CEO David Finkelstein on Q2 2020 Leadership | Annaly Capital The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . They purchased a total of 200,000 shares worth more than $1,112,000.00. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. You may also find the annual proxy statement by going directly to the company's website. Corporate Responsibility CommitteeRisk Committee. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Mr. Hamiltons prior roles at Barclays include serving as the Global Head of Securitized Product Trading and Banking, in which capacity he was responsible for the build out of the Barclayss Global Securitized Product businesses, and as the Head of Municipal Trading and Investment Banking. Annaly intends to use our webpage as a means of disclosing material non-public information for complying with the company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. 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. Annaly Capital Management (NLY) Q4 2022 Earnings Call Transcript Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group . And everything you said the two words that stood out everything changes. The portfolio generated 188 points of NIM up Q1 of 118 basis points, driven primarily by the decrease in cost on funds that I mentioned a moment ago. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. Annaly Capital Management, Inc.'s (NLY) CEO David Finkelstein on Q1 Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. There are no executives at Annaly Capital Management Inc getting paid more. 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. Okay. David L Finkelstein, Annaly: Profile and Biography 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. Social distancing and mandated shutdowns have damaged certain sectors of the economy and the corresponding impact on the labor market has been substantial. Very helpful and one quick follow-up if I may, you mentioned in terms of the agency funding composition extending out the repo financing terms, wondering going forward, would you expect to either further lengthen the repo financing terms or maintain what you've been doing, thanks? Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. 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. So while implied volatility is very low and that's by design on part of the part of the fed and to the extent it continues to decline, it will be a more attractive hedge to our agency portfolio and I would say that in current levels, you should expect it to be a critical component of the portfolio going forward. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. 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. Annaly Capital Management (NLY) CEO David Finkelstein on Q4 2021 You may now disconnect. 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. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. Annaly ended the quarter with excellent liquidity profile within $7.9 billion of unencumbered assets an increase of $1 billion from prior quarter and including cash and unencumbered agency MBS of $5.3 billion. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. We believe our focused industry-specific positioning within nondiscretionary defensive and mission-critical names will generate the outperformance for peers that will further differentiate our brand in the sector. Our next question comes from Kenneth Lee with RBC Capital Markets. 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. 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. Thomas Hamilton was elected to serve as an independent director of Annaly in March 2019. 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 . 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. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. NCG Committee (Chair)Corporate Responsibility Committee. Below are excerpts from my letter to shareholders, released April 7, 2021. 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. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Ms. Williams has over 17 years of compensation and governance experience. 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. 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. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. 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. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Mr. Finkelstein was appointed as Chief Executive Officer and elected to serve on the Board of Directors in March 2020. . David L. Finkelstein C.F.A. Stock Market | FinancialContent Business Page Chart Data in Insider Trading History Table. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. Ilker . Beyond just prepays is what happens to pool pricing over the next quarter or two. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Mr. Green has over 20 years of experience in corporate and securities law. 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). Mr. Finkelstein received a B.A. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. 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. Actual events and results may differ materially from these forward-looking statements. Biography of David Finkelstein. 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. Sure Ken you bet and what I meant by that is that the increase in agency could occur over the very short term as credit markets are still redeveloping and we do have some runoff in that capital will be reallocated to agency over the very near term and when we say that, a very small percentage. david finkelstein annaly compensation June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe None of Annaly's achievements would have been possible without . We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Please go ahead. 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. Green holds a B.A. David Finkelstein | AFL-CIO Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. This concludes our question-and-answer session. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . from Loras College. ANNALY CAPITAL MANAGEMENT Compensation by Company. 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. Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results 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 $14 million in the prior quarter and higher average balance. Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. Annaly Capital Management, Inc. Publishes Third Corporate Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. 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. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. Thanks again. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. All proxy statements are public filings made available to the general public by the SEC. Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . from the Ohio State University. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. In the latest report, the Company included additional disclosures outlining climate-related risks and opportunities across its business in the short-, medium- and long-term horizons following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Mr. Finkelstein has over 25 years of experience in fixed income investments. Ms. Williams has over 17 years of compensation and governance experience. 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. 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. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. Steven F. Campbell is President and Chief Operating Officer of Annaly. Last updated: 1 March 2023 at 11:00am EST. Good morning and nice quarter guys. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. And then our TBA balances roughly unchanged for the quarter and with respect to what we expect for the third quarter is likely to be in the proximity of where we were at for Q2 maybe a touch higher. From 2015 until 2018, Dr. Hannan served as a Senior Advisor for KPMGs Board Leadership Center and National Leader Total Impact Strategy and, from 2009 until 2015, as KPMGs National Managing Partner of Diversity and Corporate Responsibility. david finkelstein annaly compensationgetting married in tanzania. Okay. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. 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 Co-Founder Wellington J. Denahan to Retire from the Board after 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. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. NEW YORK, June 09, 2022--Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report for the year 2021 . Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. 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. 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. This makes analysis regarding Cecil reserves particularly challenging. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Serena Wolfe is Chief Financial Officer of Annaly. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Learn More about David L. Finkelstein's net worth. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. Thanks Brendon for your help and we hope everybody stay safe. Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. David L. Finkelstein Chief Executive Officer, President and Director: 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. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine GB There are no executives at Annaly Capital Management Inc getting paid more. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. Thank you, David and good morning, everyone. 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. 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 [] Thanks for joining us today and we'll talk to you soon. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Management Development and Compensation Committee (Chair)Audit Committee. Wellington J. Denahan co-founded Annaly in 1996 and has served as a Director since that time. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. 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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. 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. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. David L. Finkelstein C.F.A. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter ended March 31, 2022. Maurion Davis on LinkedIn: #leader #citibank 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. None of Annaly's achievements would have been possible without . 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. 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 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. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. Is it picked up in your asset yield or your funding costs or both? Annaly Capital Management, Inc. Publishes Third Corporate Currently, Dr. Hannan serves on the Board of Directors of Otis Elevator Co., Gingko Bioworks and Carpenter Technology Corporation, is Chairman of the Board of Trustees and a member of the Executive Committee of the Smithsonian National Museum of the American Indian, is a Trustee of the Committee for Economic Development in Washington D.C., and is an active member of Women Corporate Directors. We remain comfortable with our existing credit portfolios and the associated Cecil reserves and will continue to monitor specific asset performance and economic projections as we determine future reserves. 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. 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. 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. A reconciliation of GAAP to non-GAAP measures is included in our earnings release. Learn More on David L. Finkelstein's trading history. 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 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. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . This underscores our belief that the stock is undervalued relative to our book value and affirms our support of the value of our stock through the various capital allocation tools we have on hand. 2022-2023 Spring Category. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. Sean Kensil - Vice President, Investor Relations. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents.