Since 2011, Ms. Bovich has been a trustee of The Bradley Trusts. 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. 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. 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 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. Ms. Williams has over 17 years of compensation and governance experience. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. 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. Wondering if you could just provide a bit more color on your prepared remarks on the potential to increase agency allocation. 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. 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. Great. This reduced our pay rate as well as shorten the maturity of our swap portfolio. Chief Executive OfficerChief Investment Officer. We maintained the view that the agency sector represents the most attractive investment opportunity currently while also providing strong liquidity. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings. This makes analysis regarding Cecil reserves particularly challenging. David L. Finkelstein is CEO and Chief Investment Officer of Annaly. And that's exactly right. Please go ahead. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. You may also find the annual proxy statement by going directly to the company's website. Okay. Mr. Hamilton received a B.S. Hey how much did TBAs add to your net interest margin for the quarter? It's been relatively calm. david finkelstein annaly compensationmostar bridge jump injuries. Serena Wolfe is Chief Financial Officer of Annaly. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. 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. Thanks David. 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. When I look this morning three month 10-year swaption was up 53 basis points. Prior to joining Annaly in 2013, Mr. Finkelstein served for four years as an Officer in the . Unit tranches and second lean loans within middle-market are experiencing more notable price discovery than its larger market blathering and we expect these gaps to remain as traditional middle-market participants grapple with their portfolios. This report is not for commercial use. No, I think I understand. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. Securitization market started to show signs of life in mid-May and we issued nearly $500 million of expanded prime securities earlier this month, subsequent to quarter end. Yeah I think prepay is kind of an obvious one outside of that. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020. 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. 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. Okay. 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. 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. On a more positive note, multifamily remained strong throughout the quarter. Mr. Schaefer received a B.B.A. Good morning and welcome to the Annaly Capital Management Second Quarter 2020 Conference Call. Non-Equity Incentive Plan Compensation: $0: Change in Pension Value and Deferred Compensation Earnings: $0: All Other Compensation: $13,763: Total: $9,138,764: Annaly Capital Management, Inc. disclosed its CEO pay was. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. 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. So we like to see it flatten a little bit further and we think it should given the posture the fed and when you look at the last set of economic projections, so lift off not likely to occur for the next couple of years, you could see some further flattening in the term curve but we're watching it and we're making incremental steps to term out our repo. 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. Annaly actively integrates ESG considerations into its overall strategy through the following key areas: corporate governance, human capital, responsible investments and the environment. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation For example, government mandates at all levels have created an even greater dependency on technology while also driving demand and behavior in ways that has made once boring annuity business into growth sectors. from Bowdoin College and a M.B.A. from the University of Connecticut. The market dysfunction that occurred amid the initial COVID outbreak in the US has dissipated and we have seen significant improvement in liquidity and asset pricing. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Prior to the 1997 merger of Dean Witter, Discover and Morgan Stanley, Mr. Schaefer was Executive Vice President, Investment Banking and Head of Corporate Finance at Dean Witter, a position he had held since 1991. There are no executives at Annaly Capital Management Inc getting paid more. Audit Committee (Chair)Management Development and Compensation CommitteeNCG Committee. Our measured approach to weathering the crisis served us well we feel very good about our positioning as the recovery progresses as I'll get into more detail. in Economics and Political Science from the University of Pennsylvania and a J.D. Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. For its 2021 fiscal year, ANNALY CAPITAL MANAGEMENT, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Mr. Reeves has served as Managing Director, Head of Private Capital Investments of Duchossois Capital Management (DCM) since 2017. Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. ANNALY CAPITAL MANAGEMENT Compensation by Company. The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. So it's reflected in your funding cost. Salary, bonuses, stock options, stock awards and other compensation for David L. Finkelstein, Chief Executive Officer, President and Director at ANNALY CAPITAL MANAGEMENT. 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. Mar 16, 2020. Nov 07, 2016. Kathy Hopinkah Hannan, Ph.D., C.P.A. 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. 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. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. The information shown here is a reporting of information included in the company's proxy statement. PHIL 21505/31505 Wonder, Magic, and Skepticism. Most recently, Mr. Hamilton served as a Strategic Advisor to the Global Head of Fixed Income, Currencies and Commodities at Barclays Capital in New York. Thorough reviews have been conducted to assure this data accurately reflects disclosures. So we don't expect a meaningful increase in agency, but over the near term you can see a small uptick. From 2013 until September 2020, Mr. Hamilton also served as Con Forms President and Chief Executive Officer. 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. 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. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. 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. 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. [Operator instructions] Our first question comes from Eric Hagen with KBW. And with that, I'll turn it over to operator for questions. Annaly provides supplemental disclosures under the Sustainability Accounting Standards Board (SASB) standards and the Global Reporting Initiative (GRI) standards frameworks. 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. Mr. Reeves is a member of the Henry Crown Fellows at the Aspen Institute and was honored as a Chicago United Business Leader of Color. For the agency derivatives portfolio, I realized you guys maybe [indiscernible] surface very often, but how much of your cost basis was amortized through core earnings in that portfolio last quarter and then with rates having coming down quite a bit, presumably some of those assets are cheap and how are you guys thinking about your footprint in that portfolio? Mr. Finkelstein received a B.A. David L. Finkelstein is Chief Executive Officer and President of Annaly. 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. Please go ahead. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. 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. The most active insiders traders include Wellington Denahan, Kevin Keyes, and David L Finkelstein. Prior to his roles at Con Forms, Mr. Hamilton spent 24 years in a number of leadership positions in the financial industry.
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