Learn More about David L. Finkelstein's net worth. And finally shifting to our outlook, as we think about our capital allocation out of the horizon, we've been focused on preserving flexibility given uncertainty in the greater economy related to COVID shutdown. California Weighs $360,000 in Reparations to Eligible Black Residents. 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. Mr. . Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. company's disclosure obligations under Regulation FD and to post and update investor presentations and some more materials on a regular basis. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. The information shown here is a reporting of information included in the company's proxy statement. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. 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. In the last twelve months, Annaly Capital Management insiders bought shares 1 times. Kathy Hopinkah Hannan, Ph.D., C.P.A. With the improved stability in the financial markets, we've seen an improvement of lenders appetite to finance credit assets particularly in the residential space in anticipation of the expiration of our FHLB membership in February of 2021, we're executing an offset financing strategy involving committed funding facilities for our residential credit business and as David mentioned, we maintain a strong presence in residential securitization market. from the Ohio State University. Sean Kensil - Vice President, Investor Relations. 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. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. 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. In the commercial sector, we're slowly beginning to see activity pick up but volumes do remain somewhat muted. Insiders at Annaly Capital Management own 0.3% of the company. david finkelstein annaly compensationmostar bridge jump injuries. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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). The average price of those shares was I believe $6.30 or meaningfully above that level now. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Investor Relations . No, it is not reflected in the funding cost. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. 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. Overall we feel good about conservative positioning in the portfolio across sectors and the strength of our relationships with best in class sponsors and operating partners to mitigate in further disruption. 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. 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. NEW YORK -- (BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") announced today the Board of Directors (the "Board") has elected David L. Finkelstein as its Chief Executive Officer and a . 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. Please go ahead. As David mentioned earlier, the stabilizing actions of the Fed coupled with our active portfolio management resulted in improved fed value of our agency assets and significant improvement in financial performance. from the University of Michigan and J.D. 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. Thanks Brendon for your help and we hope everybody stay safe. 2022-2023 Spring Category. 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 . . This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. Chief Corporate OfficerChief Legal Officer. 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. 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. Reinvestment is a key criteria here. 2015. in Economics and Political Science from the University of Pennsylvania and a J.D. Thorough reviews have been conducted to assure this data accurately reflects disclosures. The information shown here is a reporting of information included in the company's proxy statement. Good morning and nice quarter guys. 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. 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. So right now balance sheet leverage pools of finance through the repo market is more attractive than structural leverage meaning derivatives who when I say structural leverage I mean an asset whose outcome is dependent on a larger asset like derivatives are. Coronavirus Tips Working and Protection. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. from Bowdoin College and a M.B.A. from the University of Connecticut. We also announced two leadership changes, Steve Campbell was appointed as Chief Operating Officer and Glenn Votek will retire from his role as Senior Advisor at the end of August while remaining a Director on our board. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. From 2014 to 2020, Dr. Hannan served as Chairman of the Board & National President for Girl Scouts of the USA. Mr. Haylon received a B.A. 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. But the good news is, if China invades Taiwan, there is a way to protect yourself. . If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Does that answer your question? So we're very happy that the market picked up the slack and did a lot of that work. Most recently, on Friday, June 17th, David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock. Click Here for Your Free Ultimate Dividend Package. 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. There are no executives at Annaly Capital Management Inc getting paid more. Now that being said, we are starting to get through this phase 2 as I mentioned last quarter where it's really about recalibrating each portfolio in the business and making sure we're optimizing each of the businesses and we're starting to get a better look at how things are going to unfold and we're seeing opportunities in credit and we're very strong constructive and it just may take a little bit of time to make sure we have the right approach and we have complete clarity on how things are going to play out. 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.
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