david finkelstein annaly compensation
We continue to be impressed by the resiliency of our workforce and the exemplary service that our IT infrastructure team has provided to every one of us during the time of remote work. 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. June however, did bring about an increase in new refinancing requests with some new acquisition activity at post-COVID purchase prices and simultaneously, we've seen a significant number of warehouse providers begin to close new loans although pricing levels have been reset higher. 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. 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. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. Board of Directors in ANNALY CAPITAL MANAGEMENT. in Economics from Connecticut College and an M.B.A. in Finance from New York University. Biography of David Finkelstein. Okay. 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. I think that's probably the best description of what we brought them through the shares. As a reminder, the impending model introduced by the new Cecil is based on expected losses rather than incurred losses, which was the previous management for reserve historically. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. David you had in your comments suggested that Q3 earnings core earnings are on track to exceed the dividend again and I'm curious when you guys think about dividend policy, currently your ROEs are very high. 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. 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. Additional information on the Company can be found at www.annaly.com. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. GAAP net income (loss . Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. 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. 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. 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. And my other questions have been asked and answered. Highlights and achievements from the 2021 Corporate Responsibility Report include: To learn more about Annalys corporate responsibility initiatives and to view the 2021 Corporate Responsibility Report, please visit www.annaly.com/our-responsibility. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. 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. 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 [] 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. Chief Executive OfficerChief Investment Officer. Dr. Hannan is a former Global Lead Partner, National Managing Partner and Vice Chairman of KPMG, LLP, the U.S. member firm of the global audit, tax and advisory services firm KPMG International. in Education with a concentration in mathematics education and an M.B.A. with a concentration in finance and quantitative statistics, each with honors from the University of Georgia. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. 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. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. There are 11 older and 9 younger executives at Annaly Capital Management Inc. 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. Ms. Williams has over 17 years of compensation and governance experience. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Mr. Votek has over 30 years of experience in financial services. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. This makes analysis regarding Cecil reserves particularly challenging. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Thanks again. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. 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 is Chief Executive Officer and Chief Investment Officer of Annaly. Is this happening to you frequently? Despite the challenging environment, we're pleased with how the portfolio has performed during the period ending the quarter essentially unchanged at $2.2 billion in assets. So is it fair to say that the repurchase will be part of the flaps in terms of using that excess earnings in the short term? company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. The reason why they appreciate is because there worth it. 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. Finkelstein was elected to serve as a director of Annaly in March 2020. Mar 16, 2020. Ms. Bovich has over 30 years of investment management experience lastly serving as a Managing Director of Morgan Stanley Investment Management from 1993 through 2010. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. 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. 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. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. David Finkelstein interviewed on WBEZ's "Odyssey" Recent Courses PHIL 50212 Late Wittgenstein: The Absolute Basics for The Confused, Skeptical, and Ignorant (IV) David Finkelstein. Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. 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. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Learn More on David L. Finkelstein's salary. We add the incremental dollar role income to core income and then the outcome. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Mr. Finkelstein received a B.A. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. There are no executives at Annaly Capital Management Inc getting paid more. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Thanks for joining us today and we'll talk to you soon. And actually as you're answering that question, I'm realizing there's another element to that, which is that some of that additional that excess earnings is coming back to you shareholders in the form of the repurchases at a discount as well. 2022-2023 Spring Category. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. Our measured approach to weathering the crisis served us well we feel very good about our positioning as the recovery progresses as I'll get into more detail. Hey how much did TBAs add to your net interest margin for the quarter? I didn't in the prepared comments. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. All participants will be in a listen-only mode. Okay. All proxy statements are public filings made available to the general public by the SEC. PHIL 21505/31505 Wonder, Magic, and Skepticism. biography. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . 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. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. No, I think I understand. 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. 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. 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. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. and LL.M. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. June 30, 2022 . Is this special mix reflected in both the asset yield and the cost of funds and then how big is your TBA balance now versus the end of June? During this call, we may present both GAAP and non-GAAP financial measures. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. This report is not for commercial use. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. 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. 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. David L. Finkelstein C.F.A. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f
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