Mr. Green has over 20 years of experience in corporate and securities law. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. Right. We believe our focused industry-specific positioning within nondiscretionary defensive and mission-critical names will generate the outperformance for peers that will further differentiate our brand in the sector. 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. 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. Mr. Hamilton received a B.S. 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. I would like to turn the conference back over to David Finkelstein for any closing remarks. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. The charts on this page feature a breakdown of the total annual pay for the top executives at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. With respect to our CRE portfolio specifically, total assets at quarter end of $2.5 billion represented a slight decrease while economic interest remained essentially flat. So we feel good about it. Wallmine is a radically better financial terminal. Sorry, I think we're thinking about it a little differently, but yeah that's correct. Please go ahead. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Our next question comes from Kenneth Lee with RBC Capital Markets. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . 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. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. The information shown here is a reporting of information included in the company's proxy statement. Thanks Brendon for your help and we hope everybody stay safe. Is this happening to you frequently? Ms. Denahan was Annalys Chief Operating Officer from January 2006 to October 2012 and Chief Investment Officer from 2000 to November 2012. On a more positive note, multifamily remained strong throughout the quarter. 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. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . [Operator Instructions] Please note this event is being recorded. Learn More on David L. Finkelstein's trading history. So thank you, 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. But the good news is, if China invades Taiwan, there is a way to protect yourself. Board of Directors in ANNALY CAPITAL MANAGEMENT. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. 2015. Steven F. Campbell is President and Chief Operating Officer of Annaly. [Operator instructions] Our first question comes from Eric Hagen with KBW. Our residential portfolio was roughly unchanged quarter-over-quarter at $2.6 billion as modest purchases and mark-to-market increases largely offset sales and portfolio runoff. 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. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. Non-agency securities across legacy CRT jumbo 2.0 and non-QN have seen substantial recovery. Is it picked up in your asset yield or your funding costs or both? Annaly Capital Management, Inc. (NYSE:NLY) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ETCompany Participants. 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. You may now disconnect. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. And to repo financing remains ample. 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. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. A reconciliation of GAAP to non-GAAP measures is included in our earnings release. When I look this morning three month 10-year swaption was up 53 basis points. 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). Actual events and results may differ materially from these forward-looking statements. I think that's probably the best description of what we brought them through the shares. 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 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. Please go ahead. 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. I'd now like to turn the conference over to Purvi Kamdar. 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. NEW YORK--(BUSINESS WIRE)-- Mr. Votek has over 30 years of experience in financial services. in Education with a concentration in mathematics education and an M.B.A. with a concentration in finance and quantitative statistics, each with honors from the University of Georgia. 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. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Aggregate issuance under our OBX shelf has now reached 4.5 billion across 11 transactions since 2018. Mr. Finkelstein has over 25 years of experience in fixed income investments. Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. 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. 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. . The chart on this page features a breakdown of the total annual pay for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT as reported in their proxy statements. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. Ms. Bovich is a member of The Economic Club of New York, and an emeritus trustee of Connecticut College and a Member of the Investment Sub-Committee for its endowment. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. ANNALY CAPITAL MANAGEMENT Compensation by Company. The report demonstrates Annaly's continued focus on setting and measuring progress on . Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . 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. None of Annaly's achievements would have been possible without . 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. June 30, 2022; my septum piercing won't flip up; vegan mochi cake recipe Jun 09, 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. Michael Haylon was elected to serve as an independent director of Annaly in 2008. In addition, he makes $8,203,772 as Pres and CEO & Director at Annaly Capital . Mr. Haylon received a B.A. Mr. Finkelstein has 25 years of experience in fixed income investments. It's been relatively calm. Until December 2017, Ms. Denahan served as Chairman of the Board of Annaly (from November 2012) and Executive Chairman of Annaly (from September 2015). He is also a Director of the Friedreichs Ataxia Research Alliance, along with Co-Founder of his own charitable scientific effort, the CureFA Foundation. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. 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. Zwirn & Co., L.P. with a focus on credit and debt restructuring. 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. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. The most recent stock trade was executed by Anthony C Green on 1 February 2023, trading 1,584 units of NLY stock currently worth $32,203. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . In fact some of our industry concentrations have maturely benefited from the current environment. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. NCG Committee (Chair)Corporate Responsibility Committee. Mr. David L. Finkelstein C.F.A. In terms of how it's actually reflected in the yield it's not. 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. 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. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . As outlined in our report, we continue to Take Stock of Our Impact establishing ESG goals and commitments and tracking our considerable progress as we strive to integrate ESG priorities across our business, said David Finkelstein, Annalys Chief Executive Officer and President. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. And did you guys say what your book value was through July? The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. was elected to serve as an independent director of Annaly in February 2019. Mr. Finkelstein also holds the Chartered Financial Analyst designation. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Beyond just prepays is what happens to pool pricing over the next quarter or two. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. 1 dividend stock for a LIFETIME of income. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. As David touched on, our economic leverage declined to 6.4 times from 6.8 times quarter-over-quarter, which was mainly due to a decrease in repo balance of $5.4 billion and an increase in our equity-base of $1.1 billion that was partially offset by an increase in TBA contracts of $5.8 million and an increase in net payables for investments purchased of $1.5 billion. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Our book value per share was $8.39 for Q2, a 12% increase from Q1 and we generated core earnings per share excluding PAA of $0.27, a 30% increase from the prior quarter. I'm curious how you guys are looking at this and especially in light of having cut the dividend earlier in the year? . We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. 1-888-8Annaly 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. 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. David L Finkelstein is CEO/Chief Investment Ofcr at Annaly. Corporate Responsibility CommitteeRisk Committee. Ms. Bovich has over 30 years of investment management experience lastly serving as a Managing Director of Morgan Stanley Investment Management from 1993 through 2010. Yeah I think prepay is kind of an obvious one outside of that. Prior to joining Annaly in December 2019, Ms. Wolfe had served as a Partner at Ernst & Young LLP (E&Y) since 2011. Please go ahead. This underscores our belief that the stock is undervalued relative to our book value and affirms our support of the value of our stock through the various capital allocation tools we have on hand. Book value increased our GAAP net income of $856 million or $0.58 per share, which includes $0.05 related to Cecil and specific reserves and higher other comprehensive income of $721 million or $0.51 per share on improved valuations on agency MBS resulting from lower market rates. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Liquidity tools have sufficiently supported funding markets and credit facilities have opened channels to credit for businesses, households and local governments, the temporary adjustments to regulations have somewhat encouraged bank lending and most impactful to Annaly's portfolio the asset purchases have supported the smooth functioning of treasury and agency markets. David L. Finkelstein C.F.A. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. 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. On the financing side, our weighted average cost of borrowing decreased by roughly 60 basis points to 2.7% driven largely by a reduction in LIBOR given the fed cuts. 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. 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. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. Annaly Capital Management (NYSE:NLY) Q4 2021 Earnings Conference Call February 10, 2022 10:00 AM ETCompany Participants. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. 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. 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. The housing market remained strong given long-term positive fundamentals, which we believe will help the ultimate recovery.

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