ATLANTA, June 13 /PRNewswire/ --The Board of Directors of the Federal
Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it has
named former investment banker and mortgage market consultant Richard
Dorfman to become FHLBank Atlanta's President and Chief Executive Officer.
Dorfman is expected to start at the Bank on June 20, 2007. He replaces
William Ott, who has led the Bank as interim President and CEO since
February 2007.
"Dorfman's extensive experience and knowledge in the financial services
sector, including more than 25 years managing mortgage-related products,
will be a tremendous asset to the Bank," said Scott Harvard, chairman of
the FHLBank Atlanta board of directors. "The board was confident in
selecting Richard because he understands mortgage finance, has a strong
executive management background, and can combine these elements with his
deep and thorough understanding of government sponsored enterprises and the
U.S. agency market."
Most recently, Dorfman provided strategic and operational consulting
and advisory work to several Federal Home Loan Banks and the Federal Home
Loan Bank System's Office of Finance. Prior to these engagements, he was
the Managing Director & Head of U.S. Agencies and Mortgages at ABN Amro,
Inc. from 1997 until 2005.
From 1983 until 1996, Dorfman held a number of senior executive
positions with Lehman Brothers Inc., including the role as Head of
Origination, U.S. Government and Agency Business. Under his management, the
group was consistently recognized as one of the top managers of global
securities offerings and was responsible for advising clients that included
Canada Mortgage and Housing Corporation, Fannie Mae, Freddie Mac, and the
Federal Home Loan Banks.
Before becoming an investment banker, Dorfman was an attorney with the
Federal Deposit Insurance Corporation as well as a regulatory counsel for
the New York Bank for Savings. He obtained his J.D. from Syracuse
University and B.A. from Hofstra University.
In accepting the position, Dorfman said, "The Federal Home Loan Bank of
Atlanta is the dominant source of liquidity and risk management products
and services for banks and other mortgage finance institutions in the
Southeast, and I am committed to expanding the quality and volume of the
Bank's offerings in our district. The Bank's housing mission is fundamental
to the region's dynamic growth and development, so I look forward to
serving our member institutions."
About the Federal Home Loan Bank of Atlanta
The Bank is a cooperative financial services organization that provides
funding, community development grants, and other banking services to more
than 1,200 member financial institutions in Alabama, Florida, Georgia,
Maryland, North Carolina, South Carolina, Virginia, and the District of
Columbia. The Bank 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.
Some of the statements made in this announcement are "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 the 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, without limitation:
legislative and regulatory actions or changes; future economic and market
conditions; changes in demand for advances or consolidated obligations of
the Bank and/or the FHLB System; changes in interest rates; political,
national and world events; and adverse developments or events affecting or
involving other Federal Home Loan Banks or the FHLB System in general.
Additional factors that might cause the Bank's results to differ from these
forward-looking statements are provided in detail in our filings with the
Securities and Exchange Commission, which are available at http://www.sec.gov.
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, Federal Home Loan Bank
of Atlanta, +1-404-888-8158 (office), +1-404-909-2182 (mobile),
cmcentee@fhlbatl.com
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