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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. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Mr has made over 7 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. 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. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. Mr. . Dr. Hannan received a Ph.D. in Leadership Studies from Benedictine University and a B.A. So I think we had $25 million of the $277 million in the MSR that started the quarter was actual amortization and derivatives you might say on the ISI would mimic that. Please go ahead. Annualized core return on average equity excluding PAA was 12.82% for the quarter in comparison to 9.27% for Q1. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. investor@annaly.com, Brunswick Group 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 also holds the Chartered Financial Analyst designation. I'd now like to turn the conference over to Purvi Kamdar. 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. Athletes' ambitions don't end when they leave the field of play. Previously, he was Chief Financial Officer of Annaly from August 2013 to December 2019. All participants will be in a listen-only mode. So first of all with respect to the repositioning, what we experienced in the quarter was initially a pretty insignificant steepening of the curve, which we anticipated I think got to roughly 20 basis points to 25 basis points higher than it was now. Total reserves now comprise 5.32% of our acreage in MML loan portfolios as of June 30, 2020. in Economics and Political Science from the University of Pennsylvania and a J.D. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. 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. 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. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. And did you guys say what your book value was through July? Ilker . Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. David L. Finkelstein is President, Chief Executive Officer & Director at Annaly Capital Management, Inc. Ms. Bovich has a B.A. Now in terms of amortization of the cost, I'll give you the MSR for example, which mimics the derivates portfolio. NEW YORK-(BUSINESS WIRE)-Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter ended March 31, 2022. Ms. Williams has over 17 years of compensation and governance experience. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. 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. 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. Management Development and Compensation Committee (Chair)Audit Committee. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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 . Please go ahead. If you have an ad-blocker enabled you may be blocked from proceeding. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. 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. 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. 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. Does that answer your question? Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Social distancing and mandated shutdowns have damaged certain sectors of the economy and the corresponding impact on the labor market has been substantial. History of Analytic Philosophy. Current positions of David Finkelstein. This report is not for commercial use. 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 Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Yeah that's great. These funds represent a broad scope of investment strategies including equities, taxable fixed income, municipal bonds, and cash management. 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 to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. Annaly ended the quarter with excellent liquidity profile within $7.9 billion of unencumbered assets an increase of $1 billion from prior quarter and including cash and unencumbered agency MBS of $5.3 billion. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the Markets Group . 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? In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Is this happening to you frequently? Enter your email address below to get our daily insider buying and selling report. Please go ahead. 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). The average price of those shares was I believe $6.30 or meaningfully above that level now. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. Learn More on David L. Finkelstein's trading history. While our allocation agency may increase modestly, we do continue to evaluate opportunities to deploy capital across our three credit businesses and we are beginning to develop the better lends into how each credit sector is evolving and we expect to shift to a more offensive posture in the coming months as we gain more clarity on the economic and real estate landscape. Please disable your ad-blocker and refresh. 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. 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. 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. This concludes our question-and-answer session. There are no executives at Annaly Capital Management Inc getting paid more. Mr. Finkelstein received a B.A. Chart Data in Insider Trading History Table. 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 . While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Thanks Brendon for your help and we hope everybody stay safe. Select Other Years 2007 2006 For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following executives 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 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. None of Annaly's achievements would have been possible without . Volatility is low and the fed is specifically directing volatility lower and they also happen to be a huge tailwind in terms of purchases of agency MBS, so the technicals are very favorable and to your point, it does appear to be a very good backdrop for the foreseeable future for agency. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. I wanted to talk a little bit about dividend policy. So look with respect to the agency market, we are in an environment where funding is abundantly available and will be for some time given the reserves in the system. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. 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. 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. 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. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. Jun 09, 2022. 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. 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. 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. 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. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . It's been relatively calm. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. 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. Mr. Finkelstein received a B.A. 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. Consistent with our communication last quarter, we continue to speak actively with sponsors, borrowers and agents to closely monitor performance. During this call, we may present both GAAP and non-GAAP financial measures. So we feel good about it. And with that, I'll turn it over to operator for questions. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. biography. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. Thanks. Thomas Hamilton was elected to serve as an independent director of Annaly in March 2019. 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. Glenn A. Votek was elected to serve as a Director of Annaly in November 2019. Right. Ms. Williams received a B.S. You may also find the annual proxy statement by going directly to the company's website. 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. 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.