# David Finkelstein

> David L. Finkelstein is the New York-based CEO and Co-Chief Investment Officer of Annaly Capital Management. A former New York Fed Markets Group officer and agency MBS trader, he joined Annaly in 2013 and became CEO in March 2020. His tenure includes management internalization, business divestitures and a focus on agency securities, residential credit and mortgage servicing rights. He also serves in Federal Reserve advisory and market-practices roles and on Breaking Ground’s board.

- **Role:** Chief Executive Officer & Co-Chief Investment Officer at Annaly Capital Management
- **Organizations:** Annaly Capital Management, Treasury Market Practices Group, Federal Reserve Bank of Dallas Financial Sector Advisory Council, Breaking Ground, Federal Reserve Bank of New York (former employer), Salomon Smith Barney (former employer), Citigroup (former employer), Barclays (former employer)
- **Education:** B.A. in Business Administration, University of Washington, M.B.A., University of Chicago Booth School of Business
- **Known for:** Appointed Annaly CEO and director in March 2020 after joining in 2013., Previously served as primary strategist and policy adviser for the New York Fed MBS Purchase Program., Led Annaly during its management internalization and transition to a dedicated housing finance REIT.

## Career timeline

- **Before 2009** — Held agency MBS trading positions at Salomon Smith Barney, Citigroup and Barclays; exact dates not established.
- **2009–2013** — Officer in the New York Fed Markets Group; primary strategist and policy adviser for the MBS Purchase Program.
- **2013-08** — Joined Annaly as Head of Agency Trading.
- **2015-02** — Became Chief Investment Officer, Agency and RMBS.
- **2016-11** — Appointed to Annaly’s newly created company-wide Chief Investment Officer role.
- **2020-03** — Became Annaly CEO and President and joined its board.
- **2020-07** — Annaly completed management internalization during his CEO tenure; the agreement predated his appointment.
- **2021** — Annaly sold its commercial real estate business and brought MSR onto its balance sheet.
- **2022** — Annaly closed the sale of its middle market lending portfolio, completing its transition to a dedicated housing finance REIT.
- **2022-11** — Resumed the Chief Investment Officer title after an earlier November 2016–December 2021 tenure.
- **2022-12** — Concluded service as Annaly President.
- **2025-01** — Became Co-Chief Investment Officer while continuing as CEO.
- **2026-06** — Appointed to Breaking Ground’s board of directors.

## Achievements

- Appointed Annaly CEO and director in March 2020 after joining in 2013.
- Previously served as primary strategist and policy adviser for the New York Fed MBS Purchase Program.
- Led Annaly during its management internalization and transition to a dedicated housing finance REIT.
- Holds the Chartered Financial Analyst designation.
- Serves as Vice Chair of the Treasury Market Practices Group and a Dallas Fed Financial Sector Advisory Council member.

## Latest updates

- **2026-10** — Annaly’s October 20 results reported a third-quarter economic loss of 7.6%, book value of $17.86 per common share, and non-GAAP earnings available for distribution of $0.80 per share versus a $0.75 common dividend. Finkelstein acknowledged difficult fixed-income conditions and emphasised portfolio discipline.
- **2026-07** — Annaly reported a second-quarter economic return of 5.5% and a $0.75 quarterly common dividend.
- **2026-06** — Breaking Ground announced Finkelstein’s appointment to its board on June 8.
- **2025-12** — Discussed mortgage risk, MSRs, subservicing partnerships and growth with Diego Sanchez on HousingWire’s Power House podcast.
- **2025-06** — Discussed the economy, housing market, interest rates and potential GSE privatization with Diane King Hall on Schwab Network.

## Links

- Website: https://www.annaly.com/
- LinkedIn: https://www.linkedin.com/in/davidlfinkelstein/

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Profile page: https://yespress.io/david-finkelstein
Published by YesPress — https://yespress.io
Last updated: 2026-10-21