05.12.03

5.12.2003: Meldung: Freddie Mac: Richard Karl Goeltz Joins Freddie Mac Board of Directors

Retired Finance Executive
Thursday December 4, 2:56 pm ET

MCLEAN, Va., Dec. 4 / Freddie Mac has announced that Richard Karl Goeltz was elected to its board of directors during a meeting of the board held today. Goeltz is a former vice chairman and chief financial officer for American Express Corporation. He has also served as group chief financial officer and a member of the board of National Westminster Bank and as executive vice president-finance and chief financial officer for The Seagram Company, Ltd.

"Richard Goeltz brings more than 30 years of financial expertise and leadership in major global corporations and will be an outstanding addition to our board of directors," said Shaun O"Malley, chairman, Freddie Mac. "I look forward to working with him to achieve our mission to expand homeownership and to continue our efforts to make Freddie Mac a model of excellence in corporate governance."
At American Express, Goeltz was a member of the five-person office of the chief executive where he was responsible for 5,000 people covering traditional finance, treasury, tax, international audit, support services and estates. Prior to joining American Express, Goeltz worked at Nat West where he transformed the finance function by focusing it on its core, and most profitable, businesses.
Goeltz" career includes service on the board of directors of the Warnaco Group, Inc., where he is chair of the audit committee and a member of the nominating and governance committee. He is also a director and member of the auditing committee of The New Germany Fund, a New York Stock Exchange-listed closed end fund. Goeltz is a member of the Board of Overseers of Columbia Business School and a member of the Court of Governors and the Council of the London School of Economics and Political Science and deputy chairman of its Finance and General Purposes Committee.
Goeltz is a former member of both the Financial Accounting Standards Board Advisory Council and the United Kingdom"s Accounting Standards Board. He has also served on the New York Federal Reserve"s International Capital Markets Advisory Committee and The 59 Wall Street Funds Board of Trustees.
Goeltz received his M.B.A. from Columbia Business School and his B.A. in economics form Brown University. He also studied at the London School of Economics and New York University.
Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds to mortgage lenders. By supplying lenders with the money to make mortgages and packaging the mortgages into marketable securities, Freddie Mac sustains a stable mortgage credit system and reduces the mortgage rates paid by homebuyers. Over the years, Freddie Mac has opened the doors for one in six homebuyers in America and two million renters.



Source: Freddie Mac
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