After a pace of purchases at the height of the volatility to reach nearly $50 billion per day to help stabilize sector, that is transitioned to a steady run rate of $40 billion per month net of portfolio runoff, which on a gross basis equates to roughly 40% current agency issuance. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. 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. Learn More on David L. Finkelstein's trading history. Kathy Hopinkah Hannan, Ph.D., C.P.A. David Finkelstein - President, CEO & Director. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. So we don't expect a meaningful increase in agency, but over the near term you can see a small uptick. david finkelstein annaly compensationgetting married in tanzania. None of Annaly's achievements would have been possible without . 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. 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). in Economics from Connecticut College and an M.B.A. in Finance from New York University. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Ms. Williams has over 17 years of compensation and governance experience. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. No, it is not reflected in the funding cost. 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. As we gain further clarity around the long-term implications of COVID, we are reassured by the stable and defensive nature of our portfolio and remain confident in its ability to withstand prolonged bouts of market volatility. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. There are no executives at Annaly Capital Management Inc getting paid more. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. Okay. 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. 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. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. . Mr. Finkelstein has 25 years of experience in fixed income investments. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. 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. Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Our residential portfolio was roughly unchanged quarter-over-quarter at $2.6 billion as modest purchases and mark-to-market increases largely offset sales and portfolio runoff. 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. On a more positive note, multifamily remained strong throughout the quarter. Will His AI Plans Be Any Different? 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. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. Learn More on David L. Finkelstein's contact information. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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") today announced its financial results for the quarter ended March 31, 2022. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. 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. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. So thank you, guys. Learn More on David L. Finkelstein's salary. Thanks for that. . 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. I think that's probably the best description of what we brought them through the shares. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Last updated: 1 March 2023 at 11:00am EST. 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. 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. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, risks and uncertainties related to the COVID-19 pandemic, including as related to adverse economic conditions on real estate-related assets and financing conditions (and our outlook for our business in light of these conditions, which is uncertain); changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability of mortgage-backed securities and other securities for purchase; the availability of financing and, if available, the terms of any financing; changes in the market value of our assets; changes in business conditions and the general economy; operational risks or risk management failures by us or critical third parties, including cybersecurity incidents; our ability to grow our residential credit business; the sale of our middle market lending business; credit risks related to our investments in credit risk transfer securities, residential mortgage-backed securities and related residential mortgage credit assets and corporate debt; risks related to investments in mortgage servicing rights; our ability to consummate any contemplated investment opportunities; changes in government regulations or policy affecting our business; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; and our ability to maintain our exemption from registration under the Investment Company Act. Annaly's 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. Mr. Schaefer received a B.B.A. ANNALY@brunswickgroup.com, Navigate to the << Back to Mr. Campbell also worked at General Electric Capital Corporation and D.B. Additionally during the second quarter, we utilized our share buyback program and have now repurchased $175 million common stock year-to-date. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Thorough reviews have been conducted to assure this data accurately reflects disclosures. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. The average price of those shares was I believe $6.30 or meaningfully above that level now. 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. Green was Deputy General Counsel of Annaly from 2009 until March 2017. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . David L. Finkelstein C.F.A. Prior to joining Annaly in 2013, Mr. Votek was an Executive Vice President and Treasurer at CIT Group since 1999 and also President of Consumer Finance since 2012. There been some signs that the worst of the economic distress may be behind us although the recent surge in cases in some areas of the US demonstrates the fragile nature of the recovery. Learn More on Annaly Capital Management's active insiders. And that's exactly right. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York as well as a member of the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Board of Directors in ANNALY CAPITAL MANAGEMENT. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 25. times its median employee's . Turning to earnings, the largest factor quarter-over-quarter to quote an ex-PAA will lower interest expense of $186 million versus $503 million in the prior quarter due to lower average repo rates and balances as well as higher TBA [indiscernible] income of $96 million versus $44 million in the prior quarter, due to higher average balances partially offset by higher expense from the net interest component of interest-rate swaps of $65 million visits $14 million in the prior quarter and higher average balance. 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. Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. We also announced two leadership changes, Steve Campbell was appointed as Chief Operating Officer and Glenn Votek will retire from his role as Senior Advisor at the end of August while remaining a Director on our board. and LL.M. Okay. Ilker . Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. NEW YORK--(BUSINESS WIRE)-- 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. 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. Great. The reason why they appreciate is because there worth it. 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. 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. You may also find the annual proxy statement by going directly to the company's website. Annaly Capital Management, Inc. (NYSE: NLY) (the Company or Annaly) announced today the publication of its third corporate responsibility report for the year 2021, titled Taking Stock of Our Impact. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. [Operator Instructions] After todays presentation, there will be an opportunity to ask questions. Okay. 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. David L. Finkelstein is Chief Executive Officer and President of Annaly. Sure. 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. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report for the year 2021, titled Taking Stock of Our Impact.
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