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. 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. Thanks David. From 1991 through 2005, Ms. Bovich served as the U.S. Representative to the United Nations Investment Committee, which advised a global portfolio of approximately $30 billion. Do you expect any meaningful shift in terms of equity capital allocation going forward, thanks? I wanted to talk a little bit about dividend policy. Mr. Finkelstein has over 25 years of experience in fixed income investments. Mr. Campbell also worked at General Electric Capital Corporation and D.B. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Learn More on David L. Finkelstein's contact information. Total core income is used to buy, Eric. 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. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. 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. david finkelstein annaly compensation 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. 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. 2020. Annaly Capital Management, Inc. Reports 1st Quarter 2022 Results - Wire19 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. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Biography of David Finkelstein. Enter your email address below to get our daily insider buying and selling report. The improvement in singles that the market currently believes that the majority of forbearance cases, which have stabilized over the past couple of months will ultimately be resolved. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. 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. From 1995 until 2002, he held the position of Executive Vice President of Phoenix Investment Partners, Ltd., a NYSE-listed company, and President of Phoenix Investment Counsel, where he was responsible for the management and oversight of $25 billion in closed-end and open-end mutual funds, corporate pension funds and insurance company portfolios. We do not undertake and specifically disclaim any obligation to update or revise this information. . Financial Highlights GAAP net income of $1.37 per average common share for the quarter Earnings available for distribution ("EAD") of $0.28 per average common share for the quarter; unchanged from the prior . But the good news is, if China invades Taiwan, there is a way to protect yourself. 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). The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. 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. You may also find the annual proxy statement by going directly to the company's website. We can't say how long that will persist for, but we do think about this for much more than just the quarter or two where we do have the specialist and we're trying to get the appropriate level where we know it's sustainable and that's how we feel about it and if we continue to out-earn it that's perfectly okay because we're given the shareholder a 10.5% dividend yield on their book value. 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. Okay. 2014. Last updated: 2 February 2023 at 6:03pm EST. 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. Learn More on David L. Finkelstein's salary. You may also find the annual proxy statement by going directly to the company's website. Mr. Finkelstein has over 25 years of experience in fixed income investments. Good morning and nice quarter guys. Mr. Finkelstein received a B.A. Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. Annaly Capital Management, Inc. (NYSE:NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020, 09:00 AM ET Company Participants Purvi Kamdar - Head, IR David Finkelstein - CEO & Chief. was elected to serve as an independent director of Annaly in February 2019. Mr. Votek holds a B.S. Okay. We feel good about where pools are at. Thank you, David and good morning, everyone. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine Annaly Capital Management, Inc. (NLY) Leadership & Management Team Mr. Campbell received a B.B.A. As the CEO of Annaly Capital Management, Inc., Mr. Finkelstein earned a total compensation package of $9,138,764.00 in 2021. and LL.M. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media conglomerate, since July 2018, where she is responsible for the companys global human resources function, including compensation, benefits, development and learning, talent acquisition, executive search, HR systems, and the HR service center. Please go ahead. David L. Finkelstein C.F.A. Additionally as noted above, core did benefit from a reduction in financing costs with low average repo rates down to 79 basis points from 1.77% combined with lower average repo balanced stands at $68.5 million from $96.8 million and we achieved these results while opportunistically extending our repo book term increasing our weighted average date of maturity by 50% from 48 days to 74 days. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. On average, Mr trades about 51,067 units every 152 days since 2016. Annaly Capital Management (NLY) Q4 2022 Earnings Call Transcript Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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). 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. 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. Appreciate the color. Okay. 2022 The most recent stock trade was executed by Anthony C Green on 1 February 2023, trading 1,584 units of NLY stock currently worth $32,203. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. 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. 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. Actual events and results may differ materially from these forward-looking statements. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. 25. times its median employee's . Annaly Capital Management, Inc. Publishes Second Corporate 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. There are no executives at Annaly Capital Management Inc getting paid more. We add the incremental dollar role income to core income and then the outcome. Okay. Please go ahead. Thanks for that. But when you look at the portfolio and the economic return of the portfolio on the quarter, that was 15% and that persists we think. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. Look, first of all I'll talk about the footprint and agency derivatives for example and what we're talking about here Eric is the difference between balance sheet leverage and instructional leverage. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. in International and Comparative Law from Cornell Law School. in Finance from the University of Dayton. Will His AI Plans Be Any Different? Mr. Reeves serves on the boards of several DCM portfolio companies and funds as well as on the Advisory Board of Ozinga Bros. His civic and philanthropic commitments include trusteeships at Rush University Medical Center and the National Philanthropic Trust. 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. Does that answer your question? David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. There are 11 older and 9 younger executives at Annaly Capital Management Inc. California Weighs $360,000 in Reparations to Eligible Black Residents. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. If you have an ad-blocker enabled you may be blocked from proceeding. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. The information shown here is a reporting of information included in the company's proxy statement. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . 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. 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. [Operator instructions] Our first question comes from Eric Hagen with KBW. 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. This reduced our pay rate as well as shorten the maturity of our swap portfolio. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. Ilker . Any forward-looking statements made during today's call are subject to certain risks and uncertainties including with respect to COVID-19 impacts, which are outlined in the risk factors section in our most recent annual and quarterly SEC filings. 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 . Learn More about insider trades at Annaly Capital Management. June 30, 2022 . Yeah I think prepay is kind of an obvious one outside of that. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Nevertheless, financial conditions have improved considerably. Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. Coronavirus Tips Working and Protection. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. Leadership | Annaly Capital So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. from Loras College. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. 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. How Old Was Richard Dreyfuss In Jaws, Articles D
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