Annaly Capital Management, Inc. engages in the investment and financing of residential and commercial assets. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. from the University of Michigan and J.D. was elected to serve as an independent director of Annaly in February 2019. 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. Mr. Campbell received a B.B.A. Mr A is 48, he's been the Pres and CEO & Director of Annaly Capital Management Inc since . Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. 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. . The decline in portfolio size is driven by approximately $53 million in loan payoff as well as securities sales. ANNALY CAPITAL MANAGEMENT income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Wallmine is a radically better financial terminal. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. 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 . Prior to joining Annaly in April 2015, Mr. Campbell held various roles over six years at Fortress Investment Group LLC, including serving as a Managing Director in the Credit Funds business. Board of Directors in ANNALY CAPITAL MANAGEMENT. 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? 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. 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. Mr. Reeves was formerly a law partner of McDermott, Will & Emery and a corporate attorney at Jones Day. From 1997 to 1998, Mr. Schaefer was Managing Director and Head of Strategic Planning and Capital Management at Morgan Stanley. Just one [indiscernible] quarter, really favorable backdrop funding cost attractive, specialist TV end market. 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. Book value increased our GAAP net income of $856 million or $0.58 per share, which includes $0.05 related to Cecil and specific reserves and higher other comprehensive income of $721 million or $0.51 per share on improved valuations on agency MBS resulting from lower market rates. No, it is not reflected in the funding cost. You may also find the annual proxy statement by going directly to the company's website. While financial conditions have stabilized, there is still significant uncertainty around the long-term economic picture. We appropriately conservatively reserve for any what we think to be of any eventuality down out the horizon but there's idiosyncratic risk in every credit asset and so we feel good about it, but there could be one-off disruptions and so that's we're looking at as well. Ms. Bovich has also served as a board member of The Dreyfus Family of Funds since 2012, including currently serving as a board member of a number of registered investment funds within the fund complex. You may now disconnect. 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. 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. 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. How much did David L. Finkelstein make as Chief Executive Officer, President and Director of ANNALY CAPITAL MANAGEMENT in 2021 Mr. David L. Finkelstein C.F.A. in Business Administration from the University of Washington and a M.B.A. from the University of Chicago, Booth School of Business. David L. Finkelstein C.F.A. 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. Ms. Wolfe has over 20 years of experience in accounting, of which 13 years were focused solely in real estate practice. 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. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Dr. Hannan has over 30 years of industry experience and held numerous leadership roles during her distinguished career with KPMG. Exactly, exactly and we'll see where we end the year but we feel good about where we think it is. We've isolated around where we ended the quarter and right now as about last night it's up roughly 1%. Thorough reviews have been conducted to assure this data accurately reflects disclosures. I know you mentioned in some of the tail risks and just any more additional comments on the hedge positioning will be great thanks. Financial Highlights GAAP net income of $1.37 per average common share for the quarter Earnings available for distribution ("EAD") of $0.28 per average common share for the quarter; unchanged from the prior . The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. Net Worth The estimated Net Worth of David L Finkelstein is at least Annaly Capital Management Inc . [Operator Instructions] After todays presentation, there will be an opportunity to ask questions. 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. From 1986 until 1990, he was Managing Director at Aetna Bond Investors where he was responsible for management of insurance company and pension fund portfolios. 1 dividend stock for a LIFETIME of income. 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. from the Ohio State University. 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. From September 2010 to December 2011, Mr. Haylon served as Head of Investment Product Management at General Re New England Asset Management. Prior to joining Annaly in 2009, Mr. Green was a partner in the Corporate, Securities, Mergers & Acquisitions Group at K&L Gates LLP. This report is not for commercial use. On average, Annaly Capital Management Inc executives and independent directors trade stock every 35 days with the average trade being worth of $908,853. Prior to that, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. The largest trade he's ever made was buying 200,000 units of Annaly Capital Management Inc stock on 17 June 2022 worth over $1,112,000. So thank you, guys. These and our other ESG milestones have helped create durable value for all of our stakeholders., Corporate Responsibility Report Highlights. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Independent ChairAudit CommitteeNCG CommitteeRisk Committee. Chief Executive OfficerChief Investment Officer. 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. pictures of the galvin family; springfield, ma city council candidates; david finkelstein annaly compensation David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . 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. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. Mr. Finkelstein has 25 years of experience in fixed income investments. Current positions of David Finkelstein. 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. Will Others Follow? In fact some of our industry concentrations have maturely benefited from the current environment. As a result we ran numerous scenarios in excess of 20, to determine the appropriate amount of Cecil reserves to the quarter and ultimately booked reserves that were considerably more conservative than our base case scenario. The estimated Net Worth of David L Finkelstein is at least $16.4 Million dollars as of 1 February 2023. There are no executives at Annaly Capital Management Inc getting paid more. 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. Please go ahead. Yes the TBA role provided about $97.5 million post NIM for the quarter. Mr. Finkelstein is a member of the Treasury Market Practices Group sponsored by the Federal Reserve Bank of New York as well as a member of the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas. 2014. Now of additional note with respect to our direct lending portfolios, we have taken what we believe to be a very conservative approach regarding reserves and Cecil adjustment which Serena will discuss in further detail. and LL.M. 2022-2023 Spring Category. All proxy statements are public filings made available to the general public by the SEC. I'd now like to turn the conference over to Purvi Kamdar. At the time we started quarter with a swap portfolio of about nine odd years I believe, now given how long that portfolio is in duration as we mentioned last quarter provides multiples of interest rate protection relative to the assets, which are much shorter in duration. Sure. Most recently he exercised 31,721 units of NLY stock worth 194,767$ on 30 June 2022. . Serena Wolfe is Chief Financial Officer of Annaly. Highlights and achievements from the 2021 Corporate Responsibility Report include: To learn more about Annalys corporate responsibility initiatives and to view the 2021 Corporate Responsibility Report, please visit www.annaly.com/our-responsibility. GAAP net income (loss .
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