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. Reinvestment is a key criteria here. Mr. Reeves has also served as General Counsel & Secretary of The Duchossois Group, a family-owned holding company comprised of diversified operating companies and DCM, since 2007 and its Chief Administrative Officer since 2017. 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. 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. I think that's probably the best description of what we brought them through the shares. Good morning and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. In credit as we've said, we like our portfolio. None of Annaly's achievements would have been possible without . Under the standard an entity recognizes its estimate of lifetime expected credit losses as an allowance, which the fed believes will result in more timely recognition of such losses and while changes in economic scenarios and asset performance in the future will impact Cecil reserves in subsequent quarters, current reserve levels should not be considered as a pervasive credit issue within the portfolio or an indication of what reserves may be recorded in the future. All proxy statements are public filings made available to the general public by the SEC. Learn More on David L. Finkelstein's contact information. Michael Haylon was elected to serve as an independent director of Annaly in 2008. 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. 2020. Mr. Hamilton has served as a Director of Larimar Therapeutics, Inc., a clinical-stage biotechnology company focused on developing treatments for rare complex diseases, since May 2020 when Chondrial Therapeutics, Inc. merged with Zafgen, Inc. and the combined company began operating as Larimar. Yeah it depends on the shape of the curve, like over the last couple of months, the term structure of repo has flattened pretty considerably, which has enabled us to extend out curve at very attractive rate. Please disable your ad-blocker and refresh. 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. See David L Finkelstein's compensation, career history, education, & memberships. It's all dependent Rick on the attractiveness of the repurchase option relative to other options in our capital allocation policy. David L. Finkelstein C.F.A. 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. was elected to serve as an independent director of Annaly in February 2019. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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. Zwirn & Co., L.P. with a focus on credit and debt restructuring. This reduced our pay rate as well as shorten the maturity of our swap portfolio. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. David L. Finkelstein C.F.A. 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. Annaly Capital Management can also be reached via phone at (212) 696-0100 and via email at [emailprotected] Learn More on David L. Finkelstein's contact information. Great. 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? Prior to Barclays, Mr. Hamilton held various Managing Director roles at Citigroup, Inc. and Salomon Brothers, Inc., where he began his career. Mr. Hamilton has served as an Owner and Director of Construction Forms, Inc. (Con Forms), an industrial manufacturing company, since 2013. Nov 07, 2016. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Our efficiency metrics changed modestly relative to Q1 being 2.1% of equity for the second quarter in comparison to 1.98%. PHIL 21505/31505 Wonder, Magic, and Skepticism. 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. 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. Please. 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. Serena Wolfe is Chief Financial Officer of Annaly. 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. David L. Finkelstein Chief Executive Officer, President and Director: This makes analysis regarding Cecil reserves particularly challenging. 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. 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. Last updated: 1 March 2023 at 11:00am EST. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York as well as a member of the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas. As a reminder, the impending model introduced by the new Cecil is based on expected losses rather than incurred losses, which was the previous management for reserve historically. NEW YORK -- (BUSINESS WIRE)-- 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. Steven F. Campbell is President and Chief Operating Officer of Annaly. David L. Finkelstein is Chief Executive Officer and President of Annaly. 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. NCG Committee (Chair)Corporate Responsibility Committee. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. Mr. Green was Deputy General Counsel of Annaly from 2009 until March 2017. Eric A. Reeves was elected to serve as an independent director of Annaly in March 2021. Mr. Finkelstein has 25 years of experience in fixed income investments. Mr. Schaefer was Executive Vice President and Chief Strategic and Administrative Officer of Morgan Stanley from 1998 to 2000. Mr. Finkelstein received a B.A. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. None of Annaly's achievements would have been possible without . Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its second corporate responsibility report for the year 2020, titled Leading with Purpose.The report demonstrates Annaly's continued focus on environmental, social and governance ("ESG") endeavors and provides an update on Annaly's ESG goals and commitments. Mr has made over 9 trades of the Annaly Capital Management Inc stock since 2016, according to the Form 4 filled with the SEC. Sorry, I think we're thinking about it a little differently, but yeah that's correct. On average, Mr trades about 51,067 units every 152 days since 2016. In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. 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. 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 . Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. david finkelstein annaly compensationgetting married in tanzania. It did get below that level in early 2019 to about 49 basis points and then the last time prior to that was 2017 and before that it was pre-crisis. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. 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. With respect to the incremental benefit of the TBA position for the second quarter, I'll say I think the actual dollar contribution or in pennies was about $0.07 and with respect to the NIM contribution, Serena you can. Following one of the most challenging and unforeseen operating environments in analysts history, we were pleased with our performance during the second quarter. Mr. Hamilton received a B.S. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Okay. 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. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Dr. Hannan previously served as the Midwest Area Managing Partner for KPMGs Tax Services. Get notified the next time David L. Finkelstein buys or sells Annaly Capital Management stock. 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. Learn about Annaly Capital Management, Inc. (NLY) stock's management team. 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. 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 . . Independent ChairAudit CommitteeNCG CommitteeRisk Committee. 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. This concludes our question-and-answer session. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly.
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