Mr. Reeves serves on the boards of several DCM portfolio companies and funds as well as on the Advisory Board of Ozinga Bros. His civic and philanthropic commitments include trusteeships at Rush University Medical Center and the National Philanthropic Trust. I'd now like to turn the conference over to Purvi Kamdar. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. 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. 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. Now to begin with, I wanted to touch on a few strategic corporate actions we've taken as of late. 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. June 30, 2022 . Learn More on David L. Finkelstein's salary. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. Content referenced in today's call can be found in our second quarter 2020 investor presentation and second quarter 2020 financial supplement, both found under the Presentation section of our website. [Operator Instructions] Please note this event is being recorded. Please note today's event is being recorded. 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. Just on the TBAs again just every mortgage rate, it feels like accounts for $I specialness a little differently in their NIM. 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. Annaly Co-Founder Wellington J. Denahan to Retire from the Board after 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 report demonstrates Annaly's continued focus on setting and measuring progress on . There are no executives at Annaly Capital Management Inc getting paid more. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. As always we spent time analyzing the results of the reserve calculations and ensuring our expectations align with the quality of the portfolio and the performance of the borrowers. 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. Mr. Finkelstein also holds the Chartered Financial Analyst designation. So we feel good about it. While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine He began his investment banking career at E.F. Hutton & Company in 1976. During this call, we may present both GAAP and non-GAAP financial measures. 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. Donnell A. Segalas Concludes his Service as a Member of the Board of 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 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. from Loras College. Mr. Finkelstein has over 25 years of experience in fixed income investments. 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. 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. Please. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. He was President and Chief Operating Officer of the Global Wealth Management division of Morgan Stanley from 2000 to 2005. Chief Executive OfficerChief Investment Officer. This net worth evaluation does not reflect any other assets that Mr. Finkelstein may own. 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. This information is according to proxy statements filed for the 2021 fiscal year. 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. David Finkelstein Net Worth, Biography, and Insider Trading You may now disconnect. None of Annaly's achievements would have been possible without . Annaly Capital Management, Inc. Publishes Third Corporate The oldest executive at Annaly Capital Management Inc is FrancineBovich, 68, who is the Independent Director. Consequently, we reduced leverage during the quarter from 6.8 times to 6.4 times and made the prudent decision to set our quarterly dividend at $0.22. While at KPMG, Dr. Hannan also founded the KPMG Womens Advisory Board. Francine J. Bovich was elected to serve as an independent director of Annaly in 2014. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. As I mentioned we out-earned the dividend by $0.05 this quarter and absent another market dislocation or other foreseen developments, we expect Q3 core canings to also the dividend. Mr. Finkelstein owns 1,669,013 shares of Annaly Capital Management stock worth more than $36,417,864 as of February 13th. Participants on this morning's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Head of Residential Credit; Tim Gallagher, Head of Commercial Real Estate; Tim Coffey, Chief Credit Officer and Ilker Ertas, Head of Securitized Products. 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. The most recent insider tranaction occured on June, 17th when CEO David L Finkelstein bought 200,000 shares worth more than $1,112,000.00. Comprehensive performance, salary and tenure analysis for the CEO, board and leadership team. We have previously discussed our methodology and are thorough and thoughtful approach to Cecil reserves. History of Analytic Philosophy. There are no executives at Annaly Capital Management Inc getting paid more. . Annaly Capital Management, Inc. (NLY) Leadership & Management Team . Interim CEO Glenn Votek to Assume Role of Senior Advisor and Remain on the Board of Directors. And finally, the company has performed exceptionally well given the challenges faced from remote work and market uncertainty. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, risks and uncertainties related to the COVID-19 pandemic, including as related to adverse economic conditions on real estate-related assets and financing conditions (and our outlook for our business in light of these conditions, which is uncertain); changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability of mortgage-backed securities and other securities for purchase; the availability of financing and, if available, the terms of any financing; changes in the market value of our assets; changes in business conditions and the general economy; operational risks or risk management failures by us or critical third parties, including cybersecurity incidents; our ability to grow our residential credit business; the sale of our middle market lending business; credit risks related to our investments in credit risk transfer securities, residential mortgage-backed securities and related residential mortgage credit assets and corporate debt; risks related to investments in mortgage servicing rights; our ability to consummate any contemplated investment opportunities; changes in government regulations or policy affecting our business; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; and our ability to maintain our exemption from registration under the Investment Company Act. 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). These initiatives are a testament to our focus on driving shareholder value, ensuring that the firm as a whole, our structure as well as our portfolio is positioned to continue outperforming as our second quarter results demonstrate. Now turning specifically to the agency market, the fed's purchase in upwards of $850 billion MBS in just over four months has dramatically altered the supply and demand picture for the sector. Ms. Bovich has a B.A. Zwirn & Co., L.P. with a focus on credit and debt restructuring. Everyone at Annaly contributes to our success and we're proud of the results that we've reported for the second quarter and expect to continue providing best in class results for our shareholders. Steven F. Campbell is President and Chief Operating Officer of Annaly. Annaly Capital Management, Inc. Reports 4th Quarter 2022 Results In the second quarter and beyond as we mentioned, we bought back $175 million worth of stock. Mr. Schaefer received a B.B.A. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . The corporate mailing address for Mr. Finkelstein and other Annaly Capital Management executives is 1211 AVENUE OF THE AMERICAS, NEW YORK NY, 10036. Thanks for that. As outlined in our report, we continue to Take Stock of Our Impact establishing ESG goals and commitments and tracking our considerable progress as we strive to integrate ESG priorities across our business, said David Finkelstein, Annalys Chief Executive Officer and President. The conference has now concluded. 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? Mr. Finkelstein also holds the Chartered Financial Analyst designation. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. All participants will be in a listen-only mode. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Thank you for attending today's presentation. Anthony C. Green is Chief Corporate Officer and Chief Legal Officer of Annaly. 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).