ATLANTA, Jan. 25 /PRNewswire/ -- Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) CEO and President Raymond R. Christman has announced his
retirement, effective Jan. 31, 2007. William Ott has been named Interim
President and CEO, effective Feb. 1, 2007.
"It has been a pleasure to lead the bank since 1999, and I am proud of
its accomplishments. I believe the time is right for me to explore other
opportunities in banking, housing, and community development. I will miss
the talented staff of the Bank, and look forward to assisting them in an
advisory capacity over the next several months as part of this transition,"
Christman said.
During his tenure, Christman oversaw the Bank as it grew from $50
billion to $144 billion in assets and increased advances to members from
$34 billion to $101 billion. In 2006, the Bank awarded a record number of
Affordable Housing Program grants totaling $40.2 million to help build or
preserve more than 6,000 affordable housing units.
"Mr. Christman has played a key role in the bank's growth and
profitability, and the continuing success of our affordable housing
programs. We are grateful for his service and dedication to members and the
communities we serve," said Scott Harvard, chairman of the FHLBank Atlanta
board of directors.
William Ott is President of PEAC Ventures, Inc., a firm that advises
corporate boards and executive management teams. Previously, Ott served on
the Executive Managing Committees of VISA, St. George Bank (Australia) and
the Bank of Boston. He has held senior positions at First Data Corp. and
Bank of America. He currently serves as a Director and Chairman of the
Audit Committee of E*TRADE Bank.
About FHLBank Atlanta
FHLBank Atlanta is a financial services organization that provides low-
cost financing, community development grants, and other banking services to
more than 1,200 financial institutions in Alabama, Florida, Georgia,
Maryland, North Carolina, South Carolina, Virginia, and the District of
Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home
Loan Bank System, which since 1990 has contributed more than $2 billion to
affordable housing development in the United States. For more information,
visit http://www.fhlbatl.com.
Some of the statements made in this press release may be
"forward-looking statements," which include statements with respect to the
Bank's beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and involve
known and unknown risks, uncertainties and other factors, many of which may
be beyond the Bank's control, and which may cause the Bank's actual
results, performance or achievements to be materially different from future
results, performance or achievements expressed or implied by the
forward-looking statements.
The forward-looking statements may not be realized due to a variety of
factors, including: future economic and market conditions; changes in
demand for advances or consolidated obligation; changes in interest rates;
legislative and regulatory changes; political, national and world events;
and adverse developments or events affecting or involving other FHLBanks or
the FHLBank System in general. Additional factors that might cause the
Bank's results to differ from these forward-looking statements are
contained in the Bank's annual and quarterly reports, available on the
Bank's website at http://www.fhlbatl.com.
SOURCE Federal Home Loan Bank of Atlanta
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Related links:
http://www.fhlbatl.com
http://www.prnewswire.com/comp/149931.html /
CONTACT:
Christopher McEntee of Federal Home Loan Bank
of Atlanta, cmcentee@fhlbatl.com, or office, +1-404-888-8158, or
mobile, +1-404-909-2182
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