Magazine article Mortgage Banking

Freddie Mac Names New Chairman and CEO

Magazine article Mortgage Banking

Freddie Mac Names New Chairman and CEO

Article excerpt

FREDDIE MAC'S BOARD OF DIRECTORS HAS named Richard F. Syron as chairman and chief executive officer, succeeding Gregory J. Parseghian.

Current Freddie Mac chairman Shaun F. O'Malley will become lead director on the company's board, and George D. Gould will remain as chairman of the board's Governance Committee.

Syron, 60, was executive chairman of Thermo Electron Corporation and served previously as Thermo Electron's chairman and chief executive officer. Prior to that, he served for five years as chairman and chief executive officer of the American Stock Exchange. From 1989 to 1994 he served as the president of the Federal Reserve Bank of Boston, and from 1986 to 1988 as the president of the Federal Home Loan Bank of Boston. Earlier, he served as assistant to then-Federal Reserve Chairman Paul Volcker and as deputy assistant secretary of the U.S. Department of Treasury.

"Freddie Mac is a great company with an important public mission to help make homeownership more affordable for America's families," said Syron. "I am a strong believer in that mission. Like many others of my generation, I grew up in a home my parents purchased with a VA mortgage. …

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