Steven F. Campbell is President and Chief Operating Officer of Annaly. Mr. Campbell also worked at General Electric Capital Corporation and D.B. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. 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. 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. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. 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. Good morning and nice quarter guys. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. Please note today's event is being recorded. On a more positive note, multifamily remained strong throughout the quarter. ANNALY CAPITAL MANAGEMENT Compensation by Company. 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. Learn More on David L. Finkelstein's salary. But when you look at the portfolio and the economic return of the portfolio on the quarter, that was 15% and that persists we think. Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. 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. 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. None of Annaly's achievements would have been possible without . Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. 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. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Please disable your ad-blocker and refresh. 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. 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 outlined in our report, we continue to Take Stock of Our Impact establishing ESG goals and commitments and tracking our considerable progress as we strive to integrate ESG priorities across our business, said David Finkelstein, Annalys Chief Executive Officer and President. Will His AI Plans Be Any Different?
Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. from the University of Michigan and J.D. This information is according to proxy statements filed for the 2021 fiscal year. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Ms. Wolfe currently serves on the boards of Berkshire Grey, Inc. and Doma Holdings, Inc. Ms. Wolfe received a Bachelor of Commerce in Accounting from the University of Queensland. 2022 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. Great. 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. This reduced our pay rate as well as shorten the maturity of our swap portfolio. Ms. Williams has over 17 years of compensation and governance experience. PHIL 21505/31505 Wonder, Magic, and Skepticism.
Annaly Capital Management, Inc. Reports 1st Quarter 2022 Results - Wire19 I didn't in the prepared comments. This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. 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. from Bowdoin College and a M.B.A. from the University of Connecticut. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. The largest trade he's ever made was buying 200,000 units of Annaly Capital Management Inc stock on 17 June 2022 worth over $1,112,000. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . So we don't expect a meaningful increase in agency, but over the near term you can see a small uptick. Please. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly.
Annaly Capital Management (NLY) Q4 2022 Earnings Call Transcript David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). Click Here for Your Free Ultimate Dividend Package.
David L. Finkelstein C.F.A. We appropriately conservatively reserve for any what we think to be of any eventuality down out the horizon but there's idiosyncratic risk in every credit asset and so we feel good about it, but there could be one-off disruptions and so that's we're looking at as well. My No. investor@annaly.com, Brunswick Group So we're very happy that the market picked up the slack and did a lot of that work. 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. 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. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. Learn More on David L. Finkelstein's contact information. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. I'd now like to turn the conference over to Purvi Kamdar. 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. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management.
David Finkelstein - Biography 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following executives on its annual proxy statement to the SEC. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Data Year: 2021. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. Is this happening to you frequently? 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. I was wondering if you could talk a little bit more about the thought process around the hedge repositioning in the quarter, adding more hedges on the short end of the curve and then I guess should we expect more options hedging going forward. in Finance from the University of Dayton. So it's not an apples-to-apples comparison. Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . All participants will be in a listen-only mode. Thanks again. 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. Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. 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. Prior to joining Annaly in 2013 . None of Annaly's achievements would have been possible without . David Finkelstein - Chief . Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. Mr. Schaefer received a B.B.A. In terms of how it's actually reflected in the yield it's not. David L. Finkelstein C.F.A. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. 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. Learn More on David L. Finkelstein's salary. 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. David L. Finkelstein Chief Executive Officer, President and Director: Wallmine is a radically better financial terminal. David's mailing address filed with the SEC is C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK, NY, 10036. Beyond just prepays is what happens to pool pricing over the next quarter or two. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. david finkelstein annaly compensationmostar bridge jump injuries. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. We do not undertake and specifically disclaim any obligation to update or revise this information. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. 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. 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. The reason why they appreciate is because there worth it. Securitization market started to show signs of life in mid-May and we issued nearly $500 million of expanded prime securities earlier this month, subsequent to quarter end. On the financing side, our weighted average cost of borrowing decreased by roughly 60 basis points to 2.7% driven largely by a reduction in LIBOR given the fed cuts. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. This concludes our question-and-answer session. 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. 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. All proxy statements are public filings made available to the general public by the SEC.
Annaly Capital Management, Inc. Publishes Third Corporate Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants.
David L. Finkelstein C.F.A. Net Worth (2022) | wallmine GB 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. Last updated: 2 February 2023 at 6:03pm EST. Ms. Williams received a B.S. Thank you. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. 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 This report is not for commercial use. Insiders at Annaly Capital Management own 0.3% of the company. Now that being said, we are starting to get through this phase 2 as I mentioned last quarter where it's really about recalibrating each portfolio in the business and making sure we're optimizing each of the businesses and we're starting to get a better look at how things are going to unfold and we're seeing opportunities in credit and we're very strong constructive and it just may take a little bit of time to make sure we have the right approach and we have complete clarity on how things are going to play out. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? 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. 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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Mr. Finkelstein received a B.A. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. And did you guys say what your book value was through July? 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.
Donnell A. Segalas Concludes his Service as a Member of the Board of 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. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. 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. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. This report is not for commercial use. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. So given the slope of the curve, given the significant decrease in front end OIS rates to zero roughly, we took the opportunity to add hedges and move down the curve and better balance out the hedge profile to bring the average life to about half what it was at the end of the first quarter and it's still about twice the duration may be a little bit more than twice the duration of the asset portfolio currently, but at 40% hedge ratio being more -- a little bit over twice the duration you get to roughly 80% to 90% may be a little bit more interest rate protection assuming a parallel shift in the curve with a still slight steepening bias which we think is the appropriate approach. Annaly Capital Management, Inc. Names David L. Finkelstein Chief Executive Officer Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors March 16, 2020 07: . How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 Ms. Williams has over 17 years of compensation and governance experience. Thank you, David and good morning, everyone. Mr. David L. Finkelstein C.F.A. Learn More on Annaly Capital Management's active insiders. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. Thanks for joining us today and we'll talk to you soon. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly.
Annaly Capital Management, Inc. Names David L. Finkelstein Chief 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. There are no executives at Annaly Capital Management Inc getting paid more. Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. 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. 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