Russell 1000 Index Component
|Industry||Real estate investment trust|
|Founded||February 18, 1997|
|Founder||Michael A.J. Farrell and Wellington Denahan|
|Headquarters||1211 Avenue of the Americas|
New York City
|David L. Finkelstein, CEO & CIO|
Serena Wolfe, CFO
|-$2.299 billion (2019)|
|Total assets||$130.295 billion (2019)|
|Total equity||$15.796 billion (2019)|
|Footnotes / references|
The company borrows money, primarily via short term repurchase agreements, and reinvests the proceeds in asset-backed securities. As of December 31, 2019, 93% of the company's assets were mortgage-backed securities issued by either Fannie Mae or Freddie Mac. The company generates profits from the net interest spread between the interest earned from its assets and its borrowing costs, which is amplified from the use of leverage. As of December 31, 2019, the company had a debt-to-equity ratio of 7.2.
Annaly Capital Management was founded in 1997 by Michael A.J. Farrell and Wellington Denahan. Mike Farrell spent 26 years working for investment banks including E.F. Hutton & Co., Morgan Stanley, and Merrill Lynch.
In 2004, the company acquired Fixed Income Discount Advisory, an investment adviser, for $40.5 million in stock.
In 2017, the company sold its Pingora servicing subsidiary.
Effective March 2020, David L. Finkelstein was named Chief Executive Officer and a member of the Board.
- "Annaly Capital Management, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "Fortune 500: Annaly Capital Management". Fortune.
- Koppenheffer, Dave (March 21, 2015). "7 Things You Probably Don't Know About Annaly Capital Management Inc". The Motley Fool.
- "Annaly Capital's Farrell dies after battle with cancer". Reuters. October 21, 2012.
- "ANNALY MORTGAGE SAYS IT IS ACQUIRING INVESTMENT ADVISER". The New York Times. Bloomberg News. January 3, 2004.
- "Michael Farrell: Obituary". The New York Times. October 23, 2012.
- "Annaly founder Michael Farrell dies after cancer diagnosed". InvestmentNews. 2012-09-28. Retrieved 2020-06-24.
- "Annaly CEO Wellington Denahan stepping down" (Press release).
- "Annaly Capital Management, Inc. Announces Agreement to Acquire CreXus Investment Corp" (Press release). Business Wire. January 31, 2013.
- "Annaly Completes Acquisition of CreXus – CreXus to be Renamed Annaly Commercial Real Estate Group" (Press release). Business Wire. May 23, 2013.
- "Annaly's Board Names Kevin Keyes CEO Effective September 30, 2015" (Press release). Business Wire. July 20, 2015.
- Pleven, Liam (2015-07-20). "Wellington Denahan to Step Down As Annaly Capital CEO". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-24.
- "Annaly Capital Management, Inc. Completes Exchange Offer for Hatteras Financial Corp. Common Stock" (Press release). Business Wire. July 12, 2016.
- "Annaly Capital Management, Inc. to Acquire Hatteras Financial Corp. for $1.5 Billion" (Press release). Business Wire. April 11, 2016.
- "Annaly Capital Management, Inc. and Bayview Asset Management, LLC Announce Purchase by Bayview of Pingora Loan Servicing Platform" (Press release). Business Wire. July 10, 2017.
- "Annaly Capital Management, Inc. Names David L. Finkelstein Chief Executive Officer".
- Business data for Annaly Capital Management, Inc.: