david finkelstein annaly compensation10 marca 2023
2015. 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 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. 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. June 30, 2022 . The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. 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. Zwirn & Co., L.P. with a focus on credit and debt restructuring. David Finkelstein - Biography in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Learn More about insider trades at Annaly Capital Management. Annaly Capital Management, Inc. Names David L. Finkelstein Chief There are no executives at Annaly Capital Management Inc getting paid more. 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. Sure. 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. 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. And with that, I'll turn it over to operator for questions. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. David L. Finkelstein C.F.A. Net Worth (2022) | wallmine GB Press Releases | Annaly Capital, https://www.businesswire.com/news/home/20220609005206/en/. Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. david finkelstein annaly compensation. Trustee. 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. For the agency derivatives portfolio, I realized you guys maybe [indiscernible] surface very often, but how much of your cost basis was amortized through core earnings in that portfolio last quarter and then with rates having coming down quite a bit, presumably some of those assets are cheap and how are you guys thinking about your footprint in that portfolio? David L. Finkelstein C.F.A. Net Worth (2022) | wallmine Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. From 1997 to 1998, Mr. Schaefer was Managing Director and Head of Strategic Planning and Capital Management at Morgan Stanley. 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. Thanks for that. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. So while implied volatility is very low and that's by design on part of the part of the fed and to the extent it continues to decline, it will be a more attractive hedge to our agency portfolio and I would say that in current levels, you should expect it to be a critical component of the portfolio going forward. This information is according to proxy statements filed for the 2021 fiscal year. Learn More on Annaly Capital Management's active insiders. Biography of David Finkelstein. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. Prior to joining NBCUniversal, Ms. Williams was a Partner with Pay Governance LLC and a Principal with Towers Perrin (now Willis Towers Watson). June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe David L. Finkelstein is CEO and Chief Investment Officer of Annaly. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. And to repo financing remains ample. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. My No. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. 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. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . Donnell A. Segalas Concludes his Service as a Member of the Board of Sorry, I think we're thinking about it a little differently, but yeah that's correct. Annaly Capital Management, Inc.'s (NLY) CEO David Finkelstein on Q1 Annaly Capital Management, Inc. Names David L. Finkelstein Chief Executive Officer Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors March 16, 2020 07: . Annaly Co-Founder Wellington J. Denahan to Retire from the Board after pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation 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. On a more positive note, multifamily remained strong throughout the quarter. California Weighs $360,000 in Reparations to Eligible Black Residents. . None of Annaly's achievements would have been possible without . In credit as we've said, we like our portfolio. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Stock Market | FinancialContent Business Page 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. 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. Serena Wolfe - CFO. 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. From 1990 until 1994, he was Senior Vice President of Fixed-Income at Phoenix Home Life Insurance Company. Unit tranches and second lean loans within middle-market are experiencing more notable price discovery than its larger market blathering and we expect these gaps to remain as traditional middle-market participants grapple with their portfolios. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. Insiders at Annaly Capital Management own 0.3% of the company. In terms of how it's actually reflected in the yield it's not. Coronavirus Tips Working and Protection. Learn More on David L. Finkelstein's trading history. 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. Right. 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. Mr. Finkelstein received a B.A. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. david finkelstein annaly compensation - eztransport123.com David Finkelstein - Chief . Annaly Capital Management, Inc. Reports 1st Quarter 2022 Results - Wire19 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. 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. History of Analytic Philosophy. Corporate Responsibility Committee (Chair)NCG CommitteeRisk Committee. 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. 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. Thanks. Investor Relations 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Annaly Capital Management (NLY) CEO David Finkelstein on Q4 2021 Ms. Denahan has a B.S. And actually as you're answering that question, I'm realizing there's another element to that, which is that some of that additional that excess earnings is coming back to you shareholders in the form of the repurchases at a discount as well. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Very helpful and one quick follow-up if I may, you mentioned in terms of the agency funding composition extending out the repo financing terms, wondering going forward, would you expect to either further lengthen the repo financing terms or maintain what you've been doing, thanks? Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . Thank you. David Finkelstein - President, CEO & Director. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. 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. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. david finkelstein annaly compensationmostar bridge jump injuries. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Prior to joining Annaly in 2009, Mr. Green was a partner in the Corporate, Securities, Mergers & Acquisitions Group at K&L Gates LLP. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? 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. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. Good morning and nice quarter guys. New deal activity is primarily relegated to more broadly syndicated loans however, the context first lien executions on larger transactions have tightened 75 basis points to 100 basis points over the past quarter, while traditional middle-market has shown less movement in pricing. 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. 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. David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. And that's exactly right. 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. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. They provide a much better competitive profile with lower prepayment characteristics than the market, but generally speaking pool pricing can be variable and so that's probably the risk in any agency. Great. Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. 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. 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. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. investor@annaly.com, Brunswick Group in Economics from Connecticut College and an M.B.A. in Finance from New York University. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. 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 Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. from Bowdoin College and a M.B.A. from the University of Connecticut. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. david finkelstein annaly compensation 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. Learn More on David L. Finkelstein's salary. 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. David Finkelstein, Annaly's Chief Executive Officer and Chief Investment Officer, commented: "Since 1997, Annaly has become the largest mortgage REIT in the world and delivered $24 billion in dividends to our shareholders in a variety of interest rate and economic conditions. Now of additional note with respect to our direct lending portfolios, we have taken what we believe to be a very conservative approach regarding reserves and Cecil adjustment which Serena will discuss in further detail. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine That has largely taken delivery of the most negatively convex MBS, which has resulted in a shift to the TBA deliverable across production coupons to more newly originated pools and as a result, nominal carry on production coupons TBAs has improved dramatically thereby adding to returns for TBA holders. So is it fair to say that the repurchase will be part of the flaps in terms of using that excess earnings in the short term? from Loras College. John H. Schaefer was elected to serve as an independent director of Annaly in 2013. We also continue to take advantage of the attractive low levels of volatility to hedge the tail risk of a sharp rise in rates in the long end of the yield curve and as such, we replaced much of our legacy swaps in position with additional out of the money payers options. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. Michael Haylon was elected to serve as an independent director of Annaly in 2008. Thanks again. Mr. Green has over 20 years of experience in corporate and securities law. David Finkelstein - conference-board.org In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. Alex Yankus 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. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. Compensation Information for David L. Finkelstein, Chief Executive Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. Mr. Reeves received his B.A. And did you guys say what your book value was through July? Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. Total core income is used to buy, Eric. David Finkelstein | Department of Philosophy View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005206/en/, Annaly Capital Management, Inc. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. Everyone at Annaly contributes to our success and we're proud of the results that we've reported for the second quarter and expect to continue providing best in class results for our shareholders. Current positions of David Finkelstein. 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). 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. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. And my other questions have been asked and answered. 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. Is this happening to you frequently? in International and Comparative Law from Cornell Law School. They purchased a total of 200,000 shares worth more than $1,112,000.00. Ms. Williams has over 17 years of compensation and governance experience. 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. The information shown here is a reporting of information included in the company's proxy statement. Okay. And everything you said the two words that stood out everything changes. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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 [] This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. So it's not an apples-to-apples comparison. Chief Executive OfficerChief Investment Officer. The reason why they appreciate is because there worth it. Corporate Responsibility CommitteeRisk Committee. 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.