[Operator Instructions] Please note this event is being recorded. Compensation Ownership; David . Okay. 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. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. Donnell A. Segalas Concludes his Service as a Member of the Board of Will His AI Plans Be Any Different? Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. 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. Mr. Finkelstein received a B.A. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Mr. Finkelstein has 25 years of experience in fixed income investments. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Mr. Votek holds a B.S. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. 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. in Economics from Connecticut College and an M.B.A. in Finance from New York University. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. Mr. David L. Finkelstein C.F.A. So we're very happy that the market picked up the slack and did a lot of that work. See David L Finkelstein's compensation, career history, education, & memberships. It's been relatively calm. Yes the TBA role provided about $97.5 million post NIM for the quarter. So thank you, guys. 2022 Insiders at Annaly Capital Management own 0.3% of the company. David Finkelstein | AFL-CIO Data Year: 2021. Mr. . 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Leadership | Annaly Capital Trustee. 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. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. Wallmine is a radically better financial terminal. Mr. Finkelstein received a B.A. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. 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. Our next question comes from Rick Shane with JPMorgan. This is in large part due to the ongoing decisive actions taken by the Federal Reserve, which have been successful in restoring markets and easing credit strains. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. 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 . In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. 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. Please note today's event is being recorded. 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. Beyond just prepays is what happens to pool pricing over the next quarter or two. 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. david finkelstein annaly compensationgetting married in tanzania. I think that's probably the best description of what we brought them through the shares. The report demonstrates Annaly's continued focus on setting and measuring progress on . 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 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. Chart Data in Insider Trading History Table. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. There was a depreciation in the amount on the balance sheet of MSR, half of which was amortization and the other half of which was the multiple compression. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. 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. 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. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. Mr. Finkelstein has over 25 years of experience in fixed income investments. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Ms. Denahan has a B.S. 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). Learn More on Annaly Capital Management's active insiders. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Risk Factors in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . Last updated: 1 March 2023 at 11:00am EST. Mr. Finkelstein has over 25 years of experience in fixed income investments. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. david finkelstein annaly compensationmostar bridge jump injuries. 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. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. Mr. Campbell received a B.B.A. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 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. Mr. Finkelstein has 25 years of experience in fixed income investments. 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. 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. from the University of Michigan and J.D. 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. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. and LL.M. 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. He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. in Economics and Political Science from the University of Pennsylvania and a J.D. Please go ahead. 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. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. 96% of the portfolio is in specified pools and we built that portfolio we'll over a number of years and we use the opportunity in March to reduce the pool holdings that we didn't find as attractive and what we're left with is a portfolio that is very high quality. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. Current positions of David Finkelstein. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. 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. . Ilker . 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. Learn More about insider trades at Annaly Capital Management. Prior to joining Annaly in 2009, Mr. Green was a partner in the Corporate, Securities, Mergers & Acquisitions Group at K&L Gates LLP. On a more positive note, multifamily remained strong throughout the quarter. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. From 1980 until 1984, he was a Senior Financial Analyst at Travelers Insurance Companies. 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. We continue to think it critical in the current environment to consider the address economic scenarios available in this process and to err on the side of conservatism given a significant uncertainty in the economic and market values scenarios. Annaly Capital Management, Inc. Publishes Third Corporate Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. David Finkelstein Net Worth, Biography, and Insider Trading Annaly Capital Management, Inc. (NLY) Leadership & Management Team
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