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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. Things do look I think positive generally, but just wondering how you guys think about downside risk from here? 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. GAAP net income (loss . 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. 2014. 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. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 Chief Executive OfficerChief Investment Officer. Please go ahead. You can see the complete history of Mr Finkelstein stock trades at the bottom of the page. Mr. Finkelstein earned a salary of $1,000,000.00, a bonus of $6,325,000.00, stock awards of $1,800,001.00, and other compensation of $13,763.00. We do not undertake and specifically disclaim any obligation to update or revise this information. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. There are no executives at Annaly Capital Management Inc getting paid more. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. There was a depreciation in the amount on the balance sheet of MSR, half of which was amortization and the other half of which was the multiple compression. in Finance from the University of Dayton. 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. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. David L. Finkelstein C.F.A. 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. Financial Highlights GAAP net income (loss) of ($1.96) per average common share for the quarter; $3.93 per average common share for the full year 2022 Earnings available for distribution [] 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. 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. This report is not for commercial use. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. When expanded it provides a list of search options that will switch the search inputs to match the current selection. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. 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. 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. David Finkelstein-- Chief Executive Officer and Chief Investment Officer Yeah. 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. The estimated net worth of David L. Finkelstein is at least $33.93 million as of June 17th, 2022. ANNALY CAPITAL MANAGEMENT annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Below are excerpts from my letter to shareholders, released April 7, 2021. Ms. Williams has over 17 years of compensation and governance experience. A reconciliation of GAAP to non-GAAP measures is included in our earnings release. She is also a graduate of the Chicago Management Institute at the University of Chicago, Booth School of Business and the Institute of Comparative Political & Economic Systems at Georgetown University. Non-agency securities across legacy CRT jumbo 2.0 and non-QN have seen substantial recovery. June 30, 2022 . Nov 07, 2016. Ms. Wolfe currently serves on the boards of Berkshire Grey, Inc. and Doma Holdings, Inc. Ms. Wolfe received a Bachelor of Commerce in Accounting from the University of Queensland. in Finance from Florida State University. Ms. Williams previously served as Senior Vice President, Compensation, Benefits and HRIS at NBCUniversal beginning in 2011. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. 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. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. And to repo financing remains ample. 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. 1 dividend stock for a LIFETIME of income. 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. Prior to that, he worked at AT&T and its finance subsidiary from 1986 to 1999 in various financial management roles. 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. Please disable your ad-blocker and refresh. NEW YORK--(BUSINESS WIRE)-- The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. The dividend represented 10.5% yield on our book value which is in line with our historical average while being competitive relative to our peers and various fixed income benchmarks. In terms of how it's actually reflected in the yield it's not. If you have an ad-blocker enabled you may be blocked from proceeding. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. There are 11 older and 9 younger executives at Annaly Capital Management Inc. And my other questions have been asked and answered. 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. 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. NCG Committee (Chair)Corporate Responsibility Committee. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry. Annaly Capital Management, Inc. NLY ("Annaly" or the "Company") today announced its financial results for the quarter and year ended December 31, 2022. David L. Finkelstein C.F.A. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets. Ms. Bovich has a B.A. 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 core income is used to buy, Eric. David Finkelstein About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form . 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. Out treasury function is the best in the business and their expertise and exemplary market timing was a key component that helped us weather the market dislocation last quarter and our ability to deliver strong core earnings this quarter. . The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Thorough reviews have been conducted to assure this data accurately reflects disclosures. They provide a much better competitive profile with lower prepayment characteristics than the market, but generally speaking pool pricing can be variable and so that's probably the risk in any agency. 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 Audit CommitteeManagement Development and Compensation CommitteeRisk Committee. He received an undergraduate degree from the University of Washington and an MBA from The University of Chicago Booth School of Business. On average, Mr trades about 51,067 units every 152 days since 2016. 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. 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 . 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. But the good news is, if China invades Taiwan, there is a way to protect yourself. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. 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.