Annaly Capital Management CEO Earned $35 Million In 2011

Posted by Orb Staff on April 30, 2012 No Comments
Categories : Residential Mortgage

11433_michael_farrell Annaly Capital Management CEO Earned $35 Million In 2011 When it comes to doing a Scrooge McDuck-style vault dive, Annaly Capital Management Inc. CEO Michael A.J. Farrell is the man to beat. According to a Bloomberg News report, Farrell was paid $35 million last year – more than the CEOs of the six largest U.S. banks – and received more than double the bank leaders' average compensation.

The 15-year-old, New York-based Annaly Capital Management is a real estate investment trust (REIT) focused on the government-sponsored mortgage-backed securities market. In an email to Bloomberg, Farrell – who is also president and chairman of the board of directors at Annaly – defended his compensation as evidence of a job well done.

‘If mortgage REITs were not delivering to investors, they would not be in a position to raise capital,’ Farrell wrote. ‘Last I checked, the United States was still a capitalist country despite efforts to the contrary.’

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