16.11.2004: Meldung: Freddie Mac Appoints Executive Vice President

Freddie Mac Appoints Joseph A. Smialowski Executive Vice President for Operations and Technology
Freddie Mac today announced that it has named Joseph A. Smialowski Executive Vice President, Operations and Technology effective December 1. Smialowski most recently was executive vice president at Fleet Boston Financial where he was part of the firm"s management committee and had direct oversight of its information technology, bank operations, corporate real estate, procurement, security and business continuity for Fleet"s business lines in Asia, Europe, Latin America and the United States. Smialowski held a key role on the integration team following the acquisition of Fleet Boston by Bank of America.

Smialowski will be responsible for managing the largest segment of Freddie Mac"s business operations, including all of the company"s mortgage origination and servicing, investment and capital markets operations, and information systems divisions. Smialowski will report to President and Chief Operating Officer Eugene M. McQuade.

"Joe brings to Freddie Mac world-class operations and technology expertise that will help create a better customer experience through integrated operating and technology platforms," McQuade said. "The merger of these functions into one organization will help us more effectively allocate our resources to corporate priorities while also ensuring that we operate efficiently and cost-effectively in a strong control environment."

Prior to joining Fleet Boston in 1998, Smialowski was chief information officer at Sears, Roebuck and Co., overseeing all of the information technology units for the company"s retail, credit, product service and direct- response businesses in North America. Smialowski also served as the chairman of the National Retail Federation"s Technology Council and was a recipient of the National Center for Supercomputing Center"s Grand Challenge Award.

Before joining Sears, he was a partner in the firm of Price Waterhouse from 1984-1993. His responsibilities included a management consulting practice that focused on operational and technology issues affecting leading retailers in North America as well as prominent technology and service providers to the retail industry.

Smialowski offers his expertise and experience to a range of business and community organizations, including membership on CIO Magazine"s Editorial Advisory Board and service on Merrimack College"s Board of Trustees. He has also served as part of National Academy of Science study teams, with the most recent being reviews of the FBI"s Information Technology Modernization ("Trilogy") program and the nation"s effort to improve voting technology as mandated by the Help America Vote Act ("HAVA") of 2002.

Smialowski received a B.A. in philosophy from Merrimack College and received a master"s degree in computer systems management from the Rochester Institute of Technology.

Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has opened doors for one in six homebuyers in America.

Source: Freddie Mac
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