And my other questions have been asked and answered. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. I was wondering if you could talk a little bit more about the thought process around the hedge repositioning in the quarter, adding more hedges on the short end of the curve and then I guess should we expect more options hedging going forward. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Thank you for attending today's presentation. Click Here for Your Free Ultimate Dividend Package. I didn't in the prepared comments. Additionally, the report incorporates summary ESG metrics for the past three years, which include further details on the composition of Annalys Board of Directors and employees, philanthropy and volunteerism efforts and environmental indicators. Insiders at Annaly Capital Management own 0.3% of the company. from Bowdoin College and a M.B.A. from the University of Connecticut. Last updated: 1 March 2023 at 11:00am EST. And did you guys say what your book value was through July? Zwirn & Co., L.P. with a focus on credit and debt restructuring. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. 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. Mr. Finkelstein has 25 years of experience in fixed income investments. Steven F. Campbell is President and Chief Operating Officer of Annaly. 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Learn More on David L. Finkelstein's salary. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Ms. Williams has served as Chief Human Resources Officer for NBCUniversal, a multinational media . Thank you. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. In addition to her roles at KPMG, as a Native American Indian and member of the Ho-Chunk Nation Tribe, Dr. Hannan served on President George W. Bushs National Advisory Council on Indian Education. Now with respect to options, we did reinvest a lot of the runoff in our swap portfolio back in out of money options and I'll tell you going forward that will be a function of the level of implied volatility. 25. times its median employee's . On average, Mr trades about 51,067 units every 152 days since 2016. As COO, Steve will expand on the work he's been doing as Head of Business Operations and work closely with the executive team to help oversee Annaly's overall operations and risk management functions. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. 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. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Mr. Campbell received a B.B.A. Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. Haylon has served as Managing Director and Head of Conning North America at Conning, Inc., a global provider of investment management solutions, services and research to the insurance industry, since June 2018. Okay. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. 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. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. He began his investment banking career at E.F. Hutton & Company in 1976. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. 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. 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. When I look this morning three month 10-year swaption was up 53 basis points. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. David L. Finkelstein C.F.A. 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). Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. Thanks for that. ANNALY@brunswickgroup.com, Navigate to the << Back to Learn More about insider trades at Annaly Capital Management. David L. Finkelstein has not been actively trading shares of Annaly Capital Management within the last three months. 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. 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. Data Year: 2021. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. We don't complete clarity on the economy and some of that runoff could go into the agency sector. You may also find the annual proxy statement by going directly to the company's website. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. I would like to turn the conference back over to David Finkelstein for any closing remarks. Wellington J. Denahan co-founded Annaly in 1996 and has served as a Director since that time. Please go ahead. 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. 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. 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. 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. David Finkelstein is Chief Executive Officer and a Board Director of Annaly Capital Management.<br><br>David has 25 years of experience in fixed income investments. Mr. Finkelstein has over 25 years of experience in fixed income investments. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. We remain comfortable with our existing credit portfolios and the associated Cecil reserves and will continue to monitor specific asset performance and economic projections as we determine future reserves. Non-Equity Incentive Plan Compensation: $0: Change in Pension Value and Deferred Compensation Earnings: $0: All Other Compensation: $13,763: Total: $9,138,764: Annaly Capital Management, Inc. disclosed its CEO pay was. Hey guys, this is actually Josh Bolton on for Doug. Learn More on Annaly Capital Management's active insiders. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following board members on its annual proxy statement to the SEC. As the latest data indicates over 90% of renters made a full or partial rent payment as of June and in the office sector, although new leasing has slowed significantly, office REITs have reported strong rent recollections above 90% throughout the back end of the second quarter. The report demonstrates Annalys continued focus on setting and measuring progress on environmental, social and governance (ESG) goals, as well as its commitment to providing increased disclosure and transparency. The market dysfunction that occurred amid the initial COVID outbreak in the US has dissipated and we have seen significant improvement in liquidity and asset pricing. 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. in Finance from the University of Dayton. Mr. Reeves received his B.A. Our next question comes from Kenneth Lee with RBC Capital Markets. 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. Thank you, David and good morning, everyone. 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. I wanted to talk a little bit about dividend policy. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Chief Corporate OfficerChief Legal Officer. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? 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. In terms of how it's actually reflected in the yield it's not. NEW YORK, June 09, 2022--Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report for the year 2021 . Yeah I think prepay is kind of an obvious one outside of that. 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. The Agency group invests in agency mortgage-backed securities. Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. So it's reflected in your funding cost. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. He served as Senior Advisor to Annaly from March 2020 to August 2020 after serving as Interim Chief Executive Officer and President of Annaly from November 2019 to March 2020. 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. 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. We feel good about where pools are at. Learn More about David L. Finkelstein's net worth. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. 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. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. Thanks. At quarter end, we closed our previously announced internalization transaction, which marks a significant step in the series of measures Annaly has implemented as an industry leader from a government standpoint. Chief Executive OfficerChief Investment Officer. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. The information shown here is a reporting of information included in the company's proxy statement. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Things do look I think positive generally, but just wondering how you guys think about downside risk from here? 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. 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. We delivered an economic return of nearly 15% and achieved core earnings well in excess of our right size dividend. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Mr. David L. Finkelstein, C.F.A., serves as Chief Investment Officer of Annaly Capital Management, Inc. since November 16, 2022. . Okay. Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Wallmine is a radically better financial terminal. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. 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. This chart shows David L Finkelstein's buying and selling at Annaly Capital Management by year and by quarter. 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. 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. NCG Committee (Chair)Corporate Responsibility Committee. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . David L. Finkelstein is Chief Executive Officer and President of Annaly. The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. From 1990 until 1994, he was Senior Vice President of Fixed-Income at Phoenix Home Life Insurance Company. Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. These initiatives are a testament to our focus on driving shareholder value, ensuring that the firm as a whole, our structure as well as our portfolio is positioned to continue outperforming as our second quarter results demonstrate. In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. In fact some of our industry concentrations have maturely benefited from the current environment. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 2014. Mr. Haylon has served as a Managing Director at Conning, Inc. since January 2012 and previously served as Head of Asset Management Sales, Products and Marketing from December 2014 until June 2018 and as Head of Investment Products from January 2012 until December 2014. 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 is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. . There are no executives at Annaly Capital Management Inc getting paid more. And that's exactly right. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. 2022 Is this special mix reflected in both the asset yield and the cost of funds and then how big is your TBA balance now versus the end of June? Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . 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. Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. Sure Ken you bet and what I meant by that is that the increase in agency could occur over the very short term as credit markets are still redeveloping and we do have some runoff in that capital will be reallocated to agency over the very near term and when we say that, a very small percentage. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. Please go ahead. 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. Annaly Capital Management, Inc. (NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET, David Finkelstein - CEO & Chief Investment Officer, Tim Gallagher - Head, Commercial Real Estate. 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. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. 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. 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. in Finance and Economics from Kean University/University of Arizona, a M.B.A in Finance from Rutgers University and attended the Executive Education Program of the Colgate W. Darden Graduate School of Business Administration at the University of Virginia. There are 11 older and 9 younger executives at Annaly Capital Management Inc. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe 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. So it's not an apples-to-apples comparison. Mr. Campbell also worked at General Electric Capital Corporation and D.B. Yes the TBA role provided about $97.5 million post NIM for the quarter. from the University of Michigan and J.D. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Thanks again. As of 1 February 2023 he still owns at least 401,561 units of Annaly Capital Management Inc stock. Mr. Finkelstein received a B.A. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. The reason why they appreciate is because there worth it. 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. 1 dividend stock for a LIFETIME of income. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Learn More on David L. Finkelstein's trading history. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . Mr. Schaefer has over 40 years of financial services experience including serving as a member of the management committee of Morgan Stanley from 1998 through 2005. Shifting to middle-market lending, activity has also picked up as of late as spreads have tightened and sponsors have refinanced transactions that have exhibited improving underlying leverage profiles. 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. Content referenced in today's call can be found in our second quarter 2020 investor presentation and second quarter 2020 financial supplement, both found under the Presentation section of our website. Will His AI Plans Be Any Different? Mr. Finkelstein has 25 years of experience in fixed income investments. Over the last 20 years, insiders at Annaly Capital Management Inc have traded over $734,400 worth of Annaly Capital Management Inc stock and bought 3,810,453 units worth $38,359,155 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. 1-888-8Annaly Prior to joining Annaly in 2013 . Below are excerpts from my letter to shareholders, released April 7, 2021. Serena Wolfe - CFO. 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. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. from Loras College. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. Mr. Green holds a B.A. 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. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. Corporate Responsibility CommitteeRisk 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. from the University of Notre Dame and a M.B.A. from the University of Chicago, Booth School of Business. Mr. Finkelstein received a B.A. 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. 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. 2020. Ms. Williams has over 17 years of compensation and governance experience. 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. Schaefer received a B.B.A. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles.
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