Freddie Mac Gets New Chief Credit Officer

By Anuradha Kher, Online News Editor McLean, Va.–In the final week of 2008, Freddie Mac has named Raymond G. Romano as the company’s new chief credit officer, a position that is responsible for enterprise-wide credit risk management activities.Romano has served as senior vice president of credit risk oversight since he joined the company in 2004. In September 2008, Romano also assumed the role as acting chief credit officer while the company conducted a nationwide search for the position.”Managing credit effectively is the cornerstone of this company, particularly in a turbulent economy,” says Freddie Mac CEO David Moffett. “Romano has really demonstrated leadership at Freddie Mac, and I can think of no one better to serve as our single point of accountability on credit decisions.”Romano will report to Freddie Mac CEO David Moffett and will lead the company’s credit risk management efforts including credit policy, counterparty credit risk management and loss forecasting. Prior to joining Freddie Mac, Romano served as senior vice president and chief credit officer and in other executive positions at different financial institutions including North American Mortgage Company, Dime Savings Bank of New York and Citicorp’s Investment Bank.