Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. 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. The company was founded by Michael A. J. Farrell and Wellington Jamie Denahan-Norris on February 18, 1997 and is headquartered in New York, NY. Information on this page was last updated on 6/17/2022. Thomas Hamilton was elected to serve as an independent director of Annaly in March 2019. 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 decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. 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. Finkelstein has 25 years of experience in fixed income investments. With the improved stability in the financial markets, we've seen an improvement of lenders appetite to finance credit assets particularly in the residential space in anticipation of the expiration of our FHLB membership in February of 2021, we're executing an offset financing strategy involving committed funding facilities for our residential credit business and as David mentioned, we maintain a strong presence in residential securitization market. 1-888-8Annaly Learn More on Annaly Capital Management's active insiders. Mr. Schaefer received a B.B.A. 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. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. 2022 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. 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 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. 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. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York as well as a member of the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas. 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. This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. 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. Last updated: 1 March 2023 at 11:00am EST. Learn More about insider trades at Annaly Capital Management. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. 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. So we like to see it flatten a little bit further and we think it should given the posture the fed and when you look at the last set of economic projections, so lift off not likely to occur for the next couple of years, you could see some further flattening in the term curve but we're watching it and we're making incremental steps to term out our repo. 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. Annaly Capital Management, Inc. Announces Executive Management 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Sure. We also continue to take advantage of the attractive low levels of volatility to hedge the tail risk of a sharp rise in rates in the long end of the yield curve and as such, we replaced much of our legacy swaps in position with additional out of the money payers options. 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. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Mr. . Annaly Capital Management (NLY) CEO David Finkelstein on Q4 2021 Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. 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). These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. Mr. Haylon received a B.A. 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. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. 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. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. 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. was elected to serve as an independent director of Annaly in February 2019. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. 2014. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. Mr. Finkelstein earned a salary of $1,000,000.00, a bonus of $6,325,000.00, stock awards of $1,800,001.00, and other compensation of $13,763.00. Also as David mentioned, our internalization transaction closed at the end of the quarter and we anticipate generating cost savings over the long time as we embark on being an internally managed company. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Ms. Williams has over 17 years of compensation and governance experience. Please disable your ad-blocker and refresh. And my other questions have been asked and answered. No, I think I understand. David Finkelstein - Biography Content referenced in today's call can be found in our second quarter 2020 investor presentation and second quarter 2020 financial supplement, both found under the Presentation section of our website. At quarter end, we closed our previously announced internalization transaction, which marks a significant step in the series of measures Annaly has implemented as an industry leader from a government standpoint. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I would like to turn the conference back over to David Finkelstein for any closing remarks. Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. Ms. Williams received a B.S. Investor Relations Mr. Finkelstein has 25 years of experience in fixed income investments. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Maurion Davis on LinkedIn: #leader #citibank Please go ahead. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. 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. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. On a more positive note, multifamily remained strong throughout the quarter. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. This report is not for commercial use. 1 dividend stock for a LIFETIME of income. When I look this morning three month 10-year swaption was up 53 basis points. Nov 07, 2016. Prior to joining Annaly in 2013 . Annaly Capital Management, Inc. Names David L. Finkelstein Chief 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. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Yeah that's great. I am pleased to share all that we have accomplished in 2021, including enhancing the Companys executive compensation program, expanding our parental leave and fertility benefits and providing additional climate-related disclosures. David L. Finkelstein C.F.A. 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. 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. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Learn More about David L. Finkelstein's net worth. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Please go ahead. We were certainly careful to take prudent steps during the early phase of the market recovery to ensure we are well positioned to capitalize on the opportunities that are sure to arise. David L Finkelstein, Annaly: Profile and Biography With respect to our CRE portfolio specifically, total assets at quarter end of $2.5 billion represented a slight decrease while economic interest remained essentially flat. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. 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 [] in International and Comparative Law from Cornell Law School. Now turning specifically to the agency market, the fed's purchase in upwards of $850 billion MBS in just over four months has dramatically altered the supply and demand picture for the sector. David L. Finkelstein C.F.A. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. David Finkelstein - Chief . Chart Data in Insider Trading History Table. Thanks again. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . You may also find the annual proxy statement by going directly to the company's website. 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 . Please go ahead. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Our book value per share was $8.39 for Q2, a 12% increase from Q1 and we generated core earnings per share excluding PAA of $0.27, a 30% increase from the prior quarter. 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. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine GB So balance sheet leverage is incredibly inexpensive right now and abundantly available because of the reserves in the system and in the agency space it's more favorable than structural leverage through derivatives. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. 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. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine See David L Finkelstein's compensation, career history, education, & memberships. He was Chief Financial Officer of the Phoenix Companies, Inc. from 2004 until 2007, and Executive Vice President and Chief Investment Officer of the Phoenix Companies in 2002 and 2003. David Finkelstein - conference-board.org This button displays the currently selected search type. But nonetheless it's a more balanced hedge profile now with a slight steepening bias and we took advantage of near zero rates at the front end of the curve, which we think has very limited downside potential in terms of those hedges losing money because it's not our view that we end up in a negative rate scenarios negative policy rate scenario that is. Actual events and results may differ materially from these forward-looking statements. As we look at the buyback policy, it's not a point in time estimated, everything changes on a daily basis because asset prices changes in the relative attractiveness of buying back stock versus putting that capital to work in the portfolio changes and if you just think about the immediate accretion of the stock buyback in terms of book value versus the longer-term earnings of the portfolio, there is a trade-off there certainly and we generated 25% accretion from the buyback thus far. As we gain further clarity around the long-term implications of COVID, we are reassured by the stable and defensive nature of our portfolio and remain confident in its ability to withstand prolonged bouts of market volatility. My No. 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 most recent insider tranaction occured on June, 17th when CEO David L Finkelstein bought 200,000 shares worth more than $1,112,000.00. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. When expanded it provides a list of search options that will switch the search inputs to match the current selection. And now with that, I'll hand it over to Serena to discuss the financials. Does that answer your question? The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate. Data Year: 2021. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Thanks David. 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. The Agency group invests in agency mortgage-backed securities. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . 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. The information shown here is a reporting of information included in the company's proxy statement. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). 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. from the University of Michigan and J.D. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. 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. As always we spent time analyzing the results of the reserve calculations and ensuring our expectations align with the quality of the portfolio and the performance of the borrowers.
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