Athletes' ambitions don't end when they leave the field of play. Okay. Financial Highlights. Appreciate the color. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. 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. 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. Mr. Hamilton received a B.S. Annalys principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. David Finkelstein | Committee for Economic Development of The Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. 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. 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. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. However, non-agency lending has been somewhat slow to redevelop as credit standards have tightened relative to pre-pandemic underwriting and mortgage originators tend to focused more on agency originations in light of fewer frictions in a wide primary secondary spread. 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. Ilker . They purchased a total of 200,000 shares worth more than $1,112,000.00. In credit as we've said, we like our portfolio. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. 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. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. Additional information on the Company can be found at www.annaly.com. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. David Finkelstein | AFL-CIO 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. We were certainly careful to take prudent steps during the early phase of the market recovery to ensure we are well positioned to capitalize on the opportunities that are sure to arise. 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. Social distancing and mandated shutdowns have damaged certain sectors of the economy and the corresponding impact on the labor market has been substantial. I didn't in the prepared comments. The conference has now concluded. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. You may also find the annual proxy statement by going directly to the company's website. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Ms. Williams received a B.S. 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. Just had a curiosity what are some things that you are concerned about or really looking closely at, you kind of in the end and immediate term. Following the completion of the transaction, the chief executive officer now directly owns 1,669,013 shares of the company's stock, valued at $9,279,712.28. She is also a graduate of the Chicago Management Institute at the University of Chicago, Booth School of Business and the Institute of Comparative Political & Economic Systems at Georgetown University. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . 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. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. Right. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . These initiatives are a testament to our focus on driving shareholder value, ensuring that the firm as a whole, our structure as well as our portfolio is positioned to continue outperforming as our second quarter results demonstrate. Thanks. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Thank you for attending today's presentation. I will provide brief financial highlights of the quarter ended June 30, 2020 and while earnings release discloses our GAAP and non-GAAP core results, I will be focusing this morning primarily on our core results and related metrics or excluding PAA. In terms of how it's actually reflected in the yield it's not. I suspect that one of the things that influences the outlook is reinvestment risk as the speeds pick up. 2022 Click Here for Your Free Ultimate Dividend Package. 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. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. June 30, 2022 . Portfolio construct has been protected against broader sectors that have witnessed demand destruction and we maintain meaningful exposure where pockets of spend remainder resilient. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") announced today the Board of Directors (the "Board") has elected David L. Finkelstein as its Chief Executive Officer and a . Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . There are 11 older and 9 younger executives at Annaly Capital Management Inc. In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Biden Closes In on Order to Restrict US Investment in China Tech, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. Chief Corporate OfficerChief Legal Officer. 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. History of Analytic Philosophy. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Non-Equity Incentive Plan Compensation: $0: Change in Pension Value and Deferred Compensation Earnings: $0: All Other Compensation: $13,763: Total: $9,138,764: Annaly Capital Management, Inc. disclosed its CEO pay was. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. 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. This point was evidenced the quarter with the improvement in fair value measures and resulting improved book value. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . 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. In the latest report, the Company included additional disclosures outlining climate-related risks and opportunities across its business in the short-, medium- and long-term horizons following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. Chief Executive OfficerChief Investment Officer. 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). If you have an ad-blocker enabled you may be blocked from proceeding. So it's not an apples-to-apples comparison. 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. Vice ChairRisk Committee (Chair)Corporate Responsibility Committee. 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. Management Development and Compensation Committee (Chair)Audit Committee. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. 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. 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. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe Hey guys, this is actually Josh Bolton on for Doug. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. 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. Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. From 1980 until 1984, he was a Senior Financial Analyst at Travelers Insurance Companies. Thank you, David and good morning, everyone. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . from the Ohio State University. Book value increased our GAAP net income of $856 million or $0.58 per share, which includes $0.05 related to Cecil and specific reserves and higher other comprehensive income of $721 million or $0.51 per share on improved valuations on agency MBS resulting from lower market rates. Our next question comes from Doug Harter with Credit Suisse. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Our next question comes from Rick Shane with JPMorgan. Ms. Williams has over 17 years of compensation and governance experience. Annaly Capital Management, Inc. (NLY) Leadership & Management Team 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. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Actual events and results may differ materially from these forward-looking statements. Total core income is used to buy, Eric. 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. Michael Haylon was elected to serve as an independent director of Annaly in 2008. David Finkelstein - Chief . Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. Wellington J. Denahan co-founded Annaly in 1996 and has served as a Director since that time. 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. 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 Mr. Votek has over 30 years of experience in financial services. But the good news is, if China invades Taiwan, there is a way to protect yourself. Last updated: 1 March 2023 at 11:00am EST. Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. So thank you, guys. This information is according to proxy statements filed for the 2021 fiscal year. In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. Annaly Capital Management, Inc. Publishes Second Corporate For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Yeah that's great. Annaly ended the quarter with excellent liquidity profile within $7.9 billion of unencumbered assets an increase of $1 billion from prior quarter and including cash and unencumbered agency MBS of $5.3 billion. Mr. Haylon has previously served on the boards of Aberdeen Asset Management and Phoenix Investment Partners. 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. This news release and our public documents to which we refer contain or incorporate by reference certain forward-looking statements which are based on various assumptions (some of which are beyond our control) and may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as may, will, believe, expect, anticipate, continue, or similar terms or variations on those terms or the negative of those terms. California Weighs $360,000 in Reparations to Eligible Black Residents. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? Chief Executive Officer, President and Director. And everything you said the two words that stood out everything changes. 1 dividend stock for a LIFETIME of income. GAAP net income improved this quarter as a result of higher GAAP net interest income of $399 million, primarily due to lower interest expense from reduced repo rates and balances and we also experienced lower losses on our core portfolio of $92 million. Mr. Finkelstein has over 25 years of experience in fixed income investments. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. Does that answer your question? pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Great. was elected to serve as an independent director of Annaly in February 2019. We have to look at how attractive assets are and then put that in the context of where thee stock prices make a buyback decision based on that.