7.1.2005: Meldung: Freddie Mac: Retirement of William I. Ledman - James P. Witkins Senior Vice President and Chief Information Officer

Thursday January 6, 8:31 am ET

MCLEAN, Va., Jan. 6 / Freddie Mac today announced that it has named James P. Witkins Senior Vice President, Technology effective January 3rd. Witkins most recently was managing director for technology and operations at Fleet Boston Financial, loan operations, risk management, capital markets, asset / liability management and treasury, with staff located in the U.S., Asia, Europe and Latin America. Witkins, 54, reports to Joseph A. Smialowski, executive vice president for Technology and Operations.

Witkins replaces William I. Ledman, 56, as senior vice president of Technology and Chief Information Officer, who is retiring from the company after ten years of service. His retirement is effective April 1, 2005.

"Bill expressed an interest in retiring two years ago, but agreed to stay on to help the company meet the challenges it was facing. Now that Freddie Mac has turned the corner, he"s decided that now is the right time to retire," said President and Chief Operating Officer Eugene M. McQuade.

Ledman has been senior vice president of Information and Systems and Services since January 1995. He joined Freddie Mac in 1994 as vice president of computer and network operations. Ledman managed the corporation"s successful transition of "Y2K" and has been instrumental in the development of new technical systems that enable the company to efficiently manage its growing business portfolio and customer relationships that are increasingly driven by technological alignment.

Witkins will continue that emphasis. As head of the Technology division, Witkins will be responsible for managing one of the largest units within the company, with planning and development responsibilities that cut across Freddie Mac"s Finance, Investments, Sourcing and Servicing divisions.

"Jim brings to Freddie Mac superior customer-focused technology expertise that strengthens our ability to efficiently meet our mission and to be the investor of choice in the residential mortgage market," explained Smialowski.

Prior to joining Fleet Boston in 2000, Witkins was director, Service Delivery & Operations, Corporate Business Banking at Barclays Bank, PLC where he supported the bank"s corporate cash management and treasury operations.

Prior to joining Barclays, Witkins had a long career at Manufacturers Hanover Trust and Chemical Bank. His most recent duties involved leading that bank"s Global Cash Management and Treasury Services division. Witkins joined Manufactures Hanover in 1977.

In addition to his banking duties with Fleet Boston, Witkins has been active in the industry. Most recently he was Fleet Boston"s representative to the Federal Reserve Board of Governor"s Interagency Review of 9/11. Witkins teamed with other banking leaders, the FBI the Secret Service and state and local officials to review the banking industry"s technology and recommend important changes.

Witkins received a B.S. in political science from the University of Illinois and earned an M.S.B.A. from the Boston University Graduate School of Management.

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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