Annaly Capital Management was founded in 1997 by Michael A.J. Farrell (1951-2012) 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 October 2012, co-founder Wellington Denahan became CEO after Michael Farrell was diagnosed with cancer; Farrell died that month. In 2013, the company acquired CreXus Investment for $996 million. Effective September 30, 2015, Kevin Keyes was named CEO of the company. In 2016, the company acquired Hatteras Financial for $1.5 billion in cash and stock. In 2017, the company sold its Pingora servicing subsidiary. In March 2020, David L. Finkelstein was named Chief Executive Officer and a member of the Board. ==References==