But when we think about reinvestment into for example, pools where we see the levered returns on agency MBS is in the context of 11% to 12% maybe a little bit higher and so as we look at the dividend right now at 10.5% yield on book value the reinvestment of agency runoff is perfectly consistent with that longer-term more steady-state level assuming rates in this context, but keep in mind we do have this near-term tailwind of specialness and some other factors that are beneficial to the portfolio where were out-earning the dividend this quarter. So we set the dividend at $0.22 because we believe that to be the sustainable level for the foreseeable future as long as we had a lens into the horizon. Annaly Capital Management Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Annaly Capital Management Inc, Stocks and cryptocurrency portfolio tracker. Yes the TBA role provided about $97.5 million post NIM for the quarter. 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. Beyond just prepays is what happens to pool pricing over the next quarter or two. Mr. Finkelstein received a B.A. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Mr. Schaefer received a B.B.A. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital Management Inc. Mr has made over 11 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. It's been relatively calm. Michael Haylon was elected to serve as an independent director of Annaly in 2008. 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. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. Thomas Hamilton was elected to serve as an independent director of Annaly in March 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. 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. in Finance from Florida State University. Mr. David L. Finkelstein C.F.A. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine Mr. Votek holds a B.S. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. Most recently, Mr. Hamilton served as a Strategic Advisor to the Global Head of Fixed Income, Currencies and Commodities at Barclays Capital in New York. Overall, we maintained a more constructive view of the operating environment and our ability to deliver compelling returns as each of our businesses respected sectors begins to emerge from the initial volatility and destruction caused by the pandemic. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. And prepay is obviously being the uncertainty and the risk which we I don't think you heard a lot about I'm sure this quarter and I think we managed prepay risk as well as anybody. Thank you, Purvi and good morning, everyone and thanks for joining us on our second quarter earnings call. 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. 1 dividend stock for a LIFETIME of income. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. Is it picked up in your asset yield or your funding costs or both? Despite the challenging environment, we're pleased with how the portfolio has performed during the period ending the quarter essentially unchanged at $2.2 billion in assets. Ms. Williams received a B.S. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. 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. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. Annaly encourages investors, analysts, the media and other interested parties to monitor the company's website in addition to following Annaly's press releases, SEC filings, public conference calls, presentations, webcasts and other information they post from time to time on its website. ANNALY CAPITAL MANAGEMENT Executive Salaries & Other Compensation 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. 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. 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. Financial Highlights. Please go ahead. 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 . 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. Will Others Follow? 2022-2023 Spring Category. 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. The company was founded by Michael A. J. Farrell and Wellington Jamie Denahan-Norris on February 18, 1997 and is headquartered in New York, NY. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . Chief Executive OfficerChief Investment Officer. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. in Economics from Connecticut College and an M.B.A. in Finance from New York University. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. 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. Annaly intends to use our webpage as a means of disclosing material non-public information for complying with the company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Wellington J. Denahan co-founded Annaly in 1996 and has served as a Director since that time. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Click here to read the full letter and more from Annaly's 2020 Annual Report. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. From 1990 until 1994, he was Senior Vice President of Fixed-Income at Phoenix Home Life Insurance Company. Will His AI Plans Be Any Different? June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe Board of Directors in ANNALY CAPITAL MANAGEMENT. We would expect more equity allocated to it, certainly, with the option to apply a modest amount of leverage. Vicki Williams was appointed to serve as an independent director of Annaly effective January 2018. Annaly Capital Management, Inc. Publishes Second Corporate Right. The conference has now concluded. Last quarter I noted that most of assets and liabilities are at fair value and that our book value decline was not a function of post asset sales but rather unrealized mark-to-market losses with potential for recruitment. 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. 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. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. [Operator Instructions] After todays presentation, there will be an opportunity to ask questions. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Learn More about insider trades at Annaly Capital Management. We feel good about where pools are at. In terms of how it's actually reflected in the yield it's not. Please go ahead. Our next question comes from Kenneth Lee with RBC Capital Markets. Thanks again. Ilker . [Operator instructions] Our first question comes from Eric Hagen with KBW. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. This button displays the currently selected search type. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine GB Learn More about David L. Finkelstein's net worth. My No. 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. None of Annaly's achievements would have been possible without . We further reduced the LIBOR footprint of our hedge portfolio with our swap now 80% in OIS and we reinitiated our treasury future short position that was unwound in the first quarter. Prior to joining NBCUniversal, Ms. Williams was a Partner with Pay Governance LLC and a Principal with Towers Perrin (now Willis Towers Watson). Please go ahead. There are no executives at Annaly Capital Management Inc getting paid more. 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. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. 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. And did you guys say what your book value was through July? 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. A reconciliation of GAAP to non-GAAP measures is included in our earnings release. 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. Below are excerpts from my letter to shareholders, released April 7, 2021. 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. Nevertheless, financial conditions have improved considerably. Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. Trustee. This report is not for commercial use. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Signaling from a fed on continued low rates combined with considerable injection of additional reserves in the financial system through repo operation and asset purchases have led to very stable funding conditions with repo markets experiencing no signs of stress through the quarter even on pivotal month end and quarter end days 1.8. Now with respect to our hedges, we added to our swap portfolio primarily in the front end and short-term swaps with pay rates close to 0% providing attractive hedge to our financing. Actual events and results may differ materially from these forward-looking statements. Zwirn & Co., L.P. with a focus on credit and debt restructuring. Learn More on Annaly Capital Management's active insiders. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Please go ahead. 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. Annaly Capital Management Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Annaly Capital Management Inc, Stocks and cryptocurrency portfolio tracker. 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. 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. 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.