WASHINGTON, June 22, 2011 /PRNewswire/ --
- Industry veteran joins management team focused on strengthening Fannie Mae to best serve the market
Fannie Mae (OTC Bulletin Board: FNMA) announced Susan R. McFarland will be the company's new executive vice president and chief financial officer (CFO) effective July 11, 2011. McFarland joins Fannie Mae from Capital One Financial Corporation, one of the top ten banks in America, where she served as executive vice president, Finance and Principal Accounting Officer. McFarland will serve on Fannie Mae's executive committee and report to Michael J. Williams, president and chief executive officer (CEO).
"Susan is an outstanding addition to our management team as we continue to strengthen Fannie Mae's business and position the company to most effectively serve the market in the future," said Michael J. Williams, president and CEO. "She has a proven record of accomplishment in consumer and retail financial services; seasoned leadership abilities; and strong business instincts which have been proven time and again. Susan will lead our excellent team in finance and work across the company to help move Fannie Mae forward."
In her most recent role as EVP, Finance and Principal Accounting Officer at Capital One, McFarland led a team of 500 professionals and placed high priority on talent development and management. McFarland also spent 16 years at Bank One as it built out its consumer franchise where she participated in ongoing initiatives to make the company more efficient and competitive in the market. She has a strong background in accounting, controls and operating finance and has had responsibility for tax, budgeting/forecasting, financial planning/analysis and financial systems. She has worked in both operating and enterprise-wide roles.
McFarland is a graduate of Texas A&M University and a graduate of the Stanford University executive program. She lives in Richmond, Virginia.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
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SOURCE Fannie Mae