Annaly Capital Management, Inc.'s (NLY) CEO David Finkelstein on Q1 Annaly Capital Management, Inc. (NLY) Leadership & Management Team 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. Below are excerpts from my letter to shareholders, released April 7, 2021. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. david finkelstein annaly compensation He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. 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. and LL.M. And my other questions have been asked and answered. Serena Wolfe is Chief Financial Officer of Annaly. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. 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. 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. 2014. My Letter to Shareholders - LinkedIn We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. There are no executives at Annaly Capital Management Inc getting paid more. Ms. Williams received a B.S. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. The Agency group invests in agency mortgage-backed securities. 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 has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Athletes' ambitions don't end when they leave the field of play. David Finkelstein - President, CEO & Director. See David L Finkelstein's compensation, career history, education, & memberships. Mr. Haylon received a B.A. 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. I wanted to talk a little bit about dividend policy. We don't complete clarity on the economy and some of that runoff could go into the agency sector. The conference has now concluded. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? Mr. Reeves has also served as General Counsel & Secretary of The Duchossois Group, a family-owned holding company comprised of diversified operating companies and DCM, since 2007 and its Chief Administrative Officer since 2017. All participants will be in a listen-only mode. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . investor@annaly.com, Brunswick Group Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. 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're very happy that the market picked up the slack and did a lot of that work. Yeah I think prepay is kind of an obvious one outside of that. 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. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. New deal activity is primarily relegated to more broadly syndicated loans however, the context first lien executions on larger transactions have tightened 75 basis points to 100 basis points over the past quarter, while traditional middle-market has shown less movement in pricing. 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. 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. 1 dividend stock for a LIFETIME of income. Stock Market | Pittsburgh Post-Gazette Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group . We have entered a more normalized environment with fed action serving as a key driver and spreads have retraced much the widening experienced in March we do remain positive on the sector given ample funding availability at low rates due to rate volatility and a complete reversal of an inferior technical backdrop that characterizes sector at the outset of this year. Mr. David L. Finkelstein C.F.A. Okay. 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. 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. This button displays the currently selected search type. Glenn has been an invaluable part of our leadership team and we thank him for his numerous contributions over the years and look forward to his continuing service on our board. Click here to read the full letter and more from Annaly's 2020 Annual Report. All proxy statements are public filings made available to the general public by the SEC. Alex Yankus from Loras College. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. 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. Please go ahead. 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 $38,359,155 Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe david finkelstein annaly compensation 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. She is also a graduate of the Chicago Management Institute at the University of Chicago, Booth School of Business and the Institute of Comparative Political & Economic Systems at Georgetown University. 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. Mr. Schaefer received a B.B.A. 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. 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). For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Great. Zwirn & Co., L.P. with a focus on credit and debt restructuring. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. 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. This underscores our belief that the stock is undervalued relative to our book value and affirms our support of the value of our stock through the various capital allocation tools we have on hand. 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. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. Learn More on David L. Finkelstein's contact information. from Bowdoin College and a M.B.A. from the University of Connecticut. Compensation Ownership; David . Donnell A. Segalas Concludes his Service as a Member of the Board of Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. 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. 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. Mr. Hamiltons prior roles at Barclays include serving as the Global Head of Securitized Product Trading and Banking, in which capacity he was responsible for the build out of the Barclayss Global Securitized Product businesses, and as the Head of Municipal Trading and Investment Banking. 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. 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. Finkelstein also holds the Chartered Financial Analyst designation. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. David L. Finkelstein C.F.A. 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. So I think we had $25 million of the $277 million in the MSR that started the quarter was actual amortization and derivatives you might say on the ISI would mimic that. 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. None of Annaly's achievements would have been possible without . Please disable your ad-blocker and refresh. Executive Officers | Annaly Capital I'd now like to turn the conference over to Purvi Kamdar. Beyond just prepays is what happens to pool pricing over the next quarter or two. Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. David L. Finkelstein C.F.A. Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. Mr. Votek holds a B.S. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. Corporate Responsibility CommitteeRisk Committee. Thank you for attending today's presentation. You may also find the annual proxy statement by going directly to the company's website. In credit as we've said, we like our portfolio. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. ANNALY CAPITAL MANAGEMENT Executive Salaries & Other Compensation The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. So while implied volatility is very low and that's by design on part of the part of the fed and to the extent it continues to decline, it will be a more attractive hedge to our agency portfolio and I would say that in current levels, you should expect it to be a critical component of the portfolio going forward. 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? GAAP net income (loss . Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. 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.
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