david finkelstein annaly compensation
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. Chief Executive OfficerChief Investment Officer. Hey how much did TBAs add to your net interest margin for the quarter? David Finkelstein interviewed on WBEZ's "Odyssey" Recent Courses PHIL 50212 Late Wittgenstein: The Absolute Basics for The Confused, Skeptical, and Ignorant (IV) David Finkelstein. David Finkelstein - Biography 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. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. He was Chief Financial Officer of the Phoenix Companies, Inc. from 2004 until 2007, and Executive Vice President and Chief Investment Officer of the Phoenix Companies in 2002 and 2003. Annaly Capital Management, Inc. Publishes Third Corporate david finkelstein annaly compensation The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. Thank you for attending today's presentation. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. In credit as we've said, we like our portfolio. Mr. . Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. Mr. Reeves is a member of the Henry Crown Fellows at the Aspen Institute and was honored as a Chicago United Business Leader of Color. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Shifting to residential credit, the sector saw significantly more activity as market dynamics began to improve following the crisis. 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. 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. The economic slowdown brought on by the pandemic has obviously created considerable uncertainty and this is different kind of recession than that which we've experienced in the past, given the unprecedented speed and magnitude of the downturn. Alex Yankus Data Year: 2021. Last updated: 2 February 2023 at 6:03pm EST. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 1-888-8Annaly Corporate Responsibility CommitteeRisk Committee. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Today I'd like to highlight a number of current corporate initiatives, provide an update on the market and discuss portfolio activity across our core business during the quarter and finally provide our outlook for the balance of the year and then I'll hand it off to Serena to discuss the financials. Executive Officers | Annaly Capital At the time we started quarter with a swap portfolio of about nine odd years I believe, now given how long that portfolio is in duration as we mentioned last quarter provides multiples of interest rate protection relative to the assets, which are much shorter in duration. I am pleased to share all that we have accomplished in 2021, including enhancing the Companys executive compensation program, expanding our parental leave and fertility benefits and providing additional climate-related disclosures. Yeah I think prepay is kind of an obvious one outside of that. 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. 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. All participants will be in a listen-only mode. Coronavirus Tips Working and Protection. Chief Executive OfficerChief Investment Officer. As an internally managed REIT, we look forward to demonstrating increased transparency and alignment with our shareholders who will benefit from our ability to be more nimble in the way we do business in order to generate long-term value. Mr. Haylon received a B.A. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Athletes' ambitions don't end when they leave the field of play. And then our TBA balances roughly unchanged for the quarter and with respect to what we expect for the third quarter is likely to be in the proximity of where we were at for Q2 maybe a touch higher. And as part of our preparation, we've chosen to be conservative with our leverage as well as our dividend. 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. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Wallmine is a radically better financial terminal. The portfolio generated 188 points of NIM up Q1 of 118 basis points, driven primarily by the decrease in cost on funds that I mentioned a moment ago. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine GB Management Development and Compensation Committee (Chair)Audit Committee. Thank you, David and good morning, everyone. David Finkelstein | AFL-CIO David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. from the University of Michigan and J.D. Stock Market | Pittsburgh Post-Gazette On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. 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. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. Ilker . Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. 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. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . David L. Finkelstein Chief Executive Officer, President and Director: 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following executives on its annual proxy statement to the SEC. Prior to joining Annaly in 2009, Mr. Green was a partner in the Corporate, Securities, Mergers & Acquisitions Group at K&L Gates LLP. My Letter to Shareholders - LinkedIn Mr. Campbell received a B.B.A. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 Current positions of David Finkelstein. Sure. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. So the NIM itself is not reflective of TBAs at all to your dollar role at all? Reinvestment is a key criteria here. Click here to read the full letter and more from Annaly's 2020 Annual Report. Okay. So we're very happy that the market picked up the slack and did a lot of that work. Yes the TBA role provided about $97.5 million post NIM for the quarter. 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. Mr. Finkelstein has 25 years of experience in fixed income investments. 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. Mr. Campbell also worked at General Electric Capital Corporation and D.B. If you have an ad-blocker enabled you may be blocked from proceeding. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Mr. Finkelstein has over 25 years of experience in fixed income investments. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. Musk Made a Mess at Twitter. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Currently, Dr. Hannan serves on the Board of Directors of Otis Elevator Co., Gingko Bioworks and Carpenter Technology Corporation, is Chairman of the Board of Trustees and a member of the Executive Committee of the Smithsonian National Museum of the American Indian, is a Trustee of the Committee for Economic Development in Washington D.C., and is an active member of Women Corporate Directors. Most recently he exercised 7,989 units of NLY stock worth $50,490 on 29 January 2022. . David L. Finkelstein C.F.A. On average, Mr trades about 51,067 units every 152 days since 2016. david finkelstein annaly compensation - eztransport123.com Financial Highlights GAAP net income (loss) of ($1.96) per average common share for the quarter; $3.93 per average common share for the full year 2022 Earnings available for distribution [] NCG Committee (Chair)Corporate Responsibility Committee. Okay. Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. 2020. Mar 16, 2020. Thorough reviews have been conducted to assure this data accurately reflects disclosures. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. 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. Mr. Finkelstein received a B.A. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. 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. And did you guys say what your book value was through July? Enter your email address below to get our daily insider buying and selling report. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. ANNALY CAPITAL MANAGEMENT Compensation by Company. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. 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. Jun 09, 2022. 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. It did get below that level in early 2019 to about 49 basis points and then the last time prior to that was 2017 and before that it was pre-crisis. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . So given the slope of the curve, given the significant decrease in front end OIS rates to zero roughly, we took the opportunity to add hedges and move down the curve and better balance out the hedge profile to bring the average life to about half what it was at the end of the first quarter and it's still about twice the duration may be a little bit more than twice the duration of the asset portfolio currently, but at 40% hedge ratio being more -- a little bit over twice the duration you get to roughly 80% to 90% may be a little bit more interest rate protection assuming a parallel shift in the curve with a still slight steepening bias which we think is the appropriate approach. June however, did bring about an increase in new refinancing requests with some new acquisition activity at post-COVID purchase prices and simultaneously, we've seen a significant number of warehouse providers begin to close new loans although pricing levels have been reset higher. Right. is the Pres, CEO & Director at Annaly Capital Management Inc. 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. Also as David mentioned, our internalization transaction closed at the end of the quarter and we anticipate generating cost savings over the long time as we embark on being an internally managed company. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $33,931,034 as of March 4th. Below are excerpts from my letter to shareholders, released April 7, 2021. 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. 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. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Ms. Wolfe held a variety of roles across industries since beginning her career at E&Y in 1998, including most recently as EYs Central Region Real Estate Hospitality & Construction leader since 2017. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. None of Annaly's achievements would have been possible without . ANNALY@brunswickgroup.com, Navigate to the << Back to . You may also find the annual proxy statement by going directly to the company's website. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Annaly Capital Management can also be reached via phone at (212) 696-0100 and via email at [emailprotected] Learn More on David L. Finkelstein's contact information. This reduced our pay rate as well as shorten the maturity of our swap portfolio. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. The Agency group invests in agency mortgage-backed securities. We do not undertake and specifically disclaim any obligation to update or revise this information. 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. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Ms. Williams has over 17 years of compensation and governance experience. No, I think I understand. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Annaly Capital Management (NLY) CEO David Finkelstein on Q4 2021 David Finkelstein | Committee for Economic Development of The Across sectors within commercial, the operating fundamentals remain challenged in hospitality as the average national occupancy rate hovers around 40% and in retail the prolonged shutdown and increasing number of retailer bankruptcies is continuing to weigh on that sector. Please go ahead. We don't complete clarity on the economy and some of that runoff could go into the agency sector. Learn More on Annaly Capital Management's active insiders. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group . Annaly Capital Management, Inc. (NLY) Leadership & Management Team Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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.
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