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And everything you said the two words that stood out everything changes. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. Mr. Haylon has served as a Managing Director at Conning, Inc. since January 2012 and previously served as Head of Asset Management Sales, Products and Marketing from December 2014 until June 2018 and as Head of Investment Products from January 2012 until December 2014. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . There been some signs that the worst of the economic distress may be behind us although the recent surge in cases in some areas of the US demonstrates the fragile nature of the recovery. 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. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. Our next question comes from Rick Shane with JPMorgan. 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. 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. david finkelstein annaly compensationmostar bridge jump injuries. As a result we ran numerous scenarios in excess of 20, to determine the appropriate amount of Cecil reserves to the quarter and ultimately booked reserves that were considerably more conservative than our base case scenario. David L. Finkelstein Chief Executive Officer, President and Director: Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. This information is according to proxy statements filed for the 2021 fiscal year. Most recently he exercised 6,186 units of NLY stock worth $125,761 on 1 February 2023. 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. (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. There are no executives at Annaly Capital Management Inc getting paid more. Enter your email address below to get our daily insider buying and selling report. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. This concludes our question-and-answer session. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Learn More on David L. Finkelstein's trading history. 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. Thanks again. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Previously, Ms. Denahan served as Chief Executive Officer of Annaly from November 2012 to September 2015 and as Co-Chief Executive Officer of Annaly from October 2012 to November 2012. 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. Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. Learn More on Annaly Capital Management's active insiders. Prior to joining Annaly in 2013, Mr. Votek was an Executive Vice President and Treasurer at CIT Group since 1999 and also President of Consumer Finance since 2012. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. 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 . During this call, we may present both GAAP and non-GAAP financial measures. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. 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. 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. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. We can't say how long that will persist for, but we do think about this for much more than just the quarter or two where we do have the specialist and we're trying to get the appropriate level where we know it's sustainable and that's how we feel about it and if we continue to out-earn it that's perfectly okay because we're given the shareholder a 10.5% dividend yield on their book value. Kathy Hopinkah Hannan, Ph.D., C.P.A. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Mr. Campbell currently serves on the Advisory Board for the Fitzgerald Institute of Real Estate at the University of Notre Dame. 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. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. Yes the TBA role provided about $97.5 million post NIM for the quarter. From 1986 until 1990, he was Managing Director at Aetna Bond Investors where he was responsible for management of insurance company and pension fund portfolios. 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. 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. Green holds a B.A. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Okay. Mr. Schaefer received a B.B.A. Mar 16, 2020. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . Thank you for attending today's presentation. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. 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. Mr. Votek has over 30 years of experience in financial services. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Thanks David. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. He received an undergraduate degree from the University of Washington and an MBA 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. 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. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. 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. Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. 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. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. 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. [Operator instructions] Our first question comes from Eric Hagen with KBW. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. 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. Chart Data in Insider Trading History Table. 1-888-8Annaly He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. 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. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. 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. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 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. 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. Click Here for Your Free Ultimate Dividend Package. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. So it's reflected in your funding cost. Ms. Bovich has also served as a board member of The Dreyfus Family of Funds since 2012, including currently serving as a board member of a number of registered investment funds within the fund complex. Zwirn & Co., L.P. with a focus on credit and debt restructuring. 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. Ilker . Ms. Williams has over 17 years of compensation and governance experience. We feel good about where pools are at. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. 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. Okay. 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. Annaly Capital Management, Inc. Investor Relations 1-888-8Annaly www.annaly.com Release Summary Donnell A. Segalas Concludes his Service as a Member of the Board of Annaly Capital Management, Inc. 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. Please go ahead. Does that answer your question? 2020. . 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. None of Annaly's achievements would have been possible without . 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. 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. But the good news is, if China invades Taiwan, there is a way to protect yourself. Prior to joining NBCUniversal, Ms. Williams was a Partner with Pay Governance LLC and a Principal with Towers Perrin (now Willis Towers Watson). We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. As COO, Steve will expand on the work he's been doing as Head of Business Operations and work closely with the executive team to help oversee Annaly's overall operations and risk management functions. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. 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. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. 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. For example, government mandates at all levels have created an even greater dependency on technology while also driving demand and behavior in ways that has made once boring annuity business into growth sectors. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. There are 11 older and 9 younger executives at Annaly Capital Management Inc. While our allocation agency may increase modestly, we do continue to evaluate opportunities to deploy capital across our three credit businesses and we are beginning to develop the better lends into how each credit sector is evolving and we expect to shift to a more offensive posture in the coming months as we gain more clarity on the economic and real estate landscape. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The Agency group invests in agency mortgage-backed securities. NEW YORK--(BUSINESS WIRE)-- Chief Executive OfficerChief Investment Officer. David L. Finkelstein is Chief Executive Officer and President of Annaly. 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. 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. 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 about David L. Finkelstein's net worth. Trustee. Okay. 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? We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. California Weighs $360,000 in Reparations to Eligible Black Residents. This makes analysis regarding Cecil reserves particularly challenging. Information on this page was last updated on 6/17/2022. This report is not for commercial use. 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. Thank you, David and good morning, everyone. 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. So we feel good about it. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. They provide a much better competitive profile with lower prepayment characteristics than the market, but generally speaking pool pricing can be variable and so that's probably the risk in any agency. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC.