david finkelstein annaly compensation23 Apr david finkelstein annaly compensation
Our goal has been to maintain optimal liquidity thresholds and to manage the portfolio within conservative risk parameters to produce the highest level of quality earnings in this market environment. Mr. Votek holds a B.S. in Economics and Political Science from the University of Pennsylvania and a J.D. Mr. Finkelstein was appointed as Chief Executive Officer and elected to serve on the Board of Directors in March 2020. Annaly Capital Management, Inc. (NLY) Leadership & Management Team 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. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . 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. Yeah I think prepay is kind of an obvious one outside of that. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Mr. David L. Finkelstein C.F.A. 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 is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Donnell A. Segalas Concludes his Service as a Member of the Board of Thanks for joining us today and we'll talk to you soon. 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 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 . Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Prior to joining Annaly in 2009, Mr. Green was a partner in the Corporate, Securities, Mergers & Acquisitions Group at K&L Gates LLP. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. I didn't in the prepared comments. from Bowdoin College and a M.B.A. from the University of Connecticut. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Annaly Co-Founder Wellington J. Denahan to Retire from the Board after GAAP net income (loss . Annaly Capital Management's insider roster includes David Finkelstein (CEO), and Thomas Hamilton (Director). 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. Chief Corporate OfficerChief Legal Officer. 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. And as a consequence of that portfolio, we did see a fair amount of appreciation in those pools in the second quarter as markets stabilize and that is one of the risks I think going forward. We further reduced the LIBOR footprint of our hedge portfolio with our swap now 80% in OIS and we reinitiated our treasury future short position that was unwound in the first quarter. 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. David L. Finkelstein Chief Executive Officer, President and Director: Mr. Finkelstein has over 25 years of experience in fixed income investments. Yeah it depends on the shape of the curve, like over the last couple of months, the term structure of repo has flattened pretty considerably, which has enabled us to extend out curve at very attractive rate. david finkelstein annaly compensation Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. 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 on David L. Finkelstein's salary. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Ilker . Overall we feel good about conservative positioning in the portfolio across sectors and the strength of our relationships with best in class sponsors and operating partners to mitigate in further disruption. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. Annaly Capital Management, Inc. (NLY) CEO David Finkelstein on Q2 2020 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. . There are no executives at Annaly Capital Management Inc getting paid more. Consequently, we reduced leverage during the quarter from 6.8 times to 6.4 times and made the prudent decision to set our quarterly dividend at $0.22. Okay. I think that's probably the best description of what we brought them through the shares. So we set the dividend at $0.22 because we believe that to be the sustainable level for the foreseeable future as long as we had a lens into the horizon. 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. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. 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. 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. Is this happening to you frequently? 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. 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. Participants on this morning's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Head of Residential Credit; Tim Gallagher, Head of Commercial Real Estate; Tim Coffey, Chief Credit Officer and Ilker Ertas, Head of Securitized Products. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. All participants will be in a listen-only mode. 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. 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. David Finkelstein - Biography - MarketScreener.com 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. Learn More on David L. Finkelstein's contact information. Thank you. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Appreciate the color. None of Annaly's achievements would have been possible without . In fact some of our industry concentrations have maturely benefited from the current environment. Please go ahead. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Mr. . Thanks. 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. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. 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. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Kathy Hopinkah Hannan, Ph.D., C.P.A. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. David Finkelstein is Chief Executive Officer and a Board Director of Annaly Capital Management.<br><br>David has 25 years of experience in fixed income investments. You may now disconnect. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Ms. Williams has over 17 years of compensation and governance experience. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 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. 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. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Mr. Schaefer received a B.B.A. With respect to the incremental benefit of the TBA position for the second quarter, I'll say I think the actual dollar contribution or in pennies was about $0.07 and with respect to the NIM contribution, Serena you can. 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. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Following the completion of the transaction, the chief executive officer now directly owns 1,669,013 shares of the company's stock, valued at $9,279,712.28. Now with respect to options, we did reinvest a lot of the runoff in our swap portfolio back in out of money options and I'll tell you going forward that will be a function of the level of implied volatility. 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. Social distancing and mandated shutdowns have damaged certain sectors of the economy and the corresponding impact on the labor market has been substantial. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. Learn More on David L. Finkelstein's salary. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. Annaly Capital Management, Inc. Publishes Third Corporate He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. and LL.M. 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 (2023) | wallmine in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. in International and Comparative Law from Cornell Law School. So we feel good about it. David Finkelstein | AFL-CIO Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. 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. Yeah that's great. Corporate Responsibility CommitteeRisk Committee. 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. 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. We recorded reserves associated with our credit businesses of $68.8 million on funded commitments during the second quarter. Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. 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. Nevertheless, financial conditions have improved considerably. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. 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. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. from Loras College. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . 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. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. Okay. The charts on this page feature a breakdown of the total annual pay for the top executives at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. David Finkelstein - Biography Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. Please note today's event is being recorded. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Biography of David Finkelstein. We do not undertake and specifically disclaim any obligation to update or revise this information. Right. Annaly Capital Management, Inc. Reports 1st Quarter 2022 Results - Wire19 On average, Mr trades about 51,067 units every 152 days since 2016. 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. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. Good morning and nice quarter guys. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. 2022-2023 Spring Category. Mr. Finkelstein received a B.A. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Hey how much did TBAs add to your net interest margin for the quarter? Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. [Operator instructions] Our first question comes from Eric Hagen with KBW. 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. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. The reason why they appreciate is because there worth it. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. In credit as we've said, we like our portfolio. Annaly Capital Management, Inc. Publishes Third Corporate in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. 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. Mr. Votek has over 30 years of experience in financial services. biography. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. And prepay is obviously being the uncertainty and the risk which we I don't think you heard a lot about I'm sure this quarter and I think we managed prepay risk as well as anybody. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. And everything you said the two words that stood out everything changes. I'd now like to turn the conference over to Purvi Kamdar. david finkelstein annaly compensationgetting married in tanzania. 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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Thank you for attending today's presentation. None of Annaly's achievements would have been possible without . Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. david finkelstein annaly compensation. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC.
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