David L. Finkelstein

Career

1. 2025 – now
   Annaly Capital Managementsrc
   Chief Executive Officer & Co-Chief Investment Officer
   Co-CIO title from January 2025
2. 2022 – 2025
   Annaly Capital Managementsrc
   Chief Executive Officer & Chief Investment Officer
   Re-assumed CIO in November 2022 when Ilker Ertas left; the President title passed to COO Steven Campbell in December 2022 (8K-2022-12-15)
3. 2020 – 2022
   Annaly Capital Managementsrc
   Chief Executive Officer & President; director
   Appointed 2020-03-13 after an interim period under CFO Glenn Votek that followed Kevin Keyes' departure in November 2019 (8K-2019-11-21). Kept the CIO title until December 2021
4. 2016 – 2020
   Annaly Capital Managementsrc
   Chief Investment Officer
   Employed by the external manager, Annaly Management Company LLC, until the internalization closed on 2020-06-30 (8K-2020-07-01)
5. 2015 – 2016
   Annaly Capital Managementsrc
   Chief Investment Officer, Agency and RMBS
6. 2013 – 2015
   Annaly Capital Managementsrc
   Head of Agency Trading
   Joined August 2013
7. 2009 – 2013
   Federal Reserve Bank of New Yorksrc
   Officer, Markets Group; primary strategist and policy adviser for the MBS purchase program

Undated in the sources

• Salomon Smith Barney, Citigroup Inc. and Barclays PLCsrc, Agency MBS trading positions

Not located: The years at Salomon Smith Barney, Citigroup and Barclays before 2009 are not dated in any filing read (2019 and 2026 proxies, FY2025 10-K, 2020 appointment 8-K)

Achievements

• CEO since March 2020. He took over after an interim period that followed the November 2019 departure of Kevin Keyes, then led the company as it moved from external to internal management on 2020-06-30src
• Spent 2009-2013 at the New York Fed as the primary strategist and policy adviser for its MBS purchase program, then joined Annaly as head of Agency tradingsrc
• The 2026 proxy credits 2025 with a 20.2% economic return, about 40% total stockholder return, a dividend raised from $0.65 to $0.70, and $2.6bn of common equity raised through the ATMsrc
• GAAP net income went from a $1.643bn loss in FY2023 to $1.002bn in FY2024 and $2.027bn in FY2025src
• Say-on-pay got 93.2% of for-and-against votes at the June 2026 meeting, up from over 91% in 2025src

Education

• University of Washington, BA Business Administrationsrc
• University of Chicago, Booth School of Business, MBAsrc
• CFA Institute, CFA charterholdersrc

Background

• Family No family-relationship statement for him was found in the 2026 proxy, the FY2025 10-K or his 2020 appointment 8-K. The 2026 proxy reports no related party transactionssrc
• Service Officer in the New York Fed's Markets Group from 2009 to 2013, working on the MBS purchase programsrc
• Other Vice Chair of the Treasury Market Practices Group sponsored by the New York Fed, and a member of the Dallas Fed's Financial Sector Advisory Councilsrc
• Other His 2020 CEO employment agreement set a $1m salary and a guaranteed minimum 2020 bonus of $6.75m, for a total 2020 opportunity of $12.75msrc
• Boards The only non-independent director. The Chair and CEO roles have been split since November 2019, and Thomas Hamilton has been independent Chair since May 2025src