Gareth Davies to Join Freddie Mac as Senior Vice President, Enterprise
Operational Risk
MCLEAN, Va., April 13 -- Gareth Davies will join
Freddie Mac (NYSE: FRE) as senior vice president, enterprise operational
risk, effective April 24, 2006. Davies has spent nearly 20 years with
General Electric, most recently as vice president and chief risk officer
for GE Asset Management.
As part of Freddie Mac's enterprise risk leadership team, Davies will
manage the company's operational risks. He will report to Anurag Saksena,
senior vice president and chief enterprise risk officer.
"We are excited that Gareth is joining Freddie Mac at this time in the
company's history. His dedication to the field of risk management coupled
with his outstanding credentials and experience will be an asset as Freddie
Mac moves forward," Saksena said.
For the past five years, Davies has served as vice president and chief
risk officer for GE Asset Management, where he developed both a risk
framework and an operational risk structure. Additionally, he developed an
in-house system to automate operational risk reporting.
Davies first joined GE in 1987 as a credit analyst in the company's
London office. During his nearly 20-year tenure, he held various positions
with increasing responsibilities within GE's different business units.
Among other positions, he served as managing director of GE Capital,
Corporate and European risk director for GE Capital, Europe.
Davies, a native of Wales, earned a degree in banking and finance from
Loughborough University in Leicester, United Kingdom.
Freddie Mac is a stockholder-owned company established 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 made home possible for one in six homebuyers and more than
four million renters in America. http://www.FreddieMac.com
SOURCE Freddie Mac
Web Site: http://www.freddiemac.com
