– USA, NY – Annaly Capital Management, Inc. (NYSE: NLY) today announced that its Board of Directors has elected David Finkelstein as its CEO and a member of the Board, effective March 13, 2020.
Mr. Finkelstein will also retain his current role as Chief Investment Officer.
“The Board is pleased to have selected David as CEO given his deep investment and operational expertise, strategic orientation and embodiment of Annaly’s values and unique culture. David is recognized as a leading voice of the Company and will leverage his extensive markets and policy experience in guiding Annaly in his new role,” said Michael Haylon, Director and Chair of the CEO Search Committee.
Mr. Finkelstein succeeds Glenn Votek, who has acted as Interim CEO and President since November 2019. Mr. Votek has been named as Senior Advisor to the Company for an interim period to ensure a smooth and orderly transition and will support the Company thereafter as a continuing member of the Board.
“We are grateful for Glenn’s significant contributions to Annaly over the past several years and for serving as a steady hand during the leadership transition. We will continue to benefit from his expertise in his next phase as a Board member,” he added.
About David Finkelstein
Mr. Finkelstein has demonstrated his leadership in shaping the Company’s investment and corporate strategy since joining Annaly in 2013. Mr. Finkelstein has 25 years of experience in fixed-income investments. Prior to Annaly, 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. Previously, Mr. Finkelstein held senior Agency MBS trading positions at Salomon Smith Barney, Citigroup Inc. and Barclays PLC. Mr. Finkelstein received a B.A. in Business Administration from the University of Washington and an M.B.A. from the University of Chicago, Booth School of Business. Mr. Finkelstein also holds the Chartered Financial Analyst® designation.
Mr. Finkelstein commented: “I am honored by the opportunity to assume leadership of this firm. Annaly has been highly innovative since its inception, steered by visionary founders whose expertise enabled them to grow the Company through credit cycles and volatility while leading the market and taking advantage of opportunities unforeseen by other market participants. With the talented team alongside me, we will continue in this tradition, employing the full breadth of our experiences and insight to guide Annaly toward continued success over the long term. I have a deep appreciation for Glenn’s exemplary leadership during this transition and I look forward to our continued partnership on the Board.”
About Annaly
Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly’s principal business objective is to generate net income for distribution to its stockholders and optimize its returns through prudent management of its diversified investment strategies. Annaly has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Until the closing of its announced internalization transaction, Annaly is externally managed by Annaly Management Company LLC.
For more information: https://www.annaly.com
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