27-Year Industry Veteran Brings Deep Knowledge and Experience to New Role
CALABASAS, Calif., Sept. 4 /PRNewswire-FirstCall/ -- Countrywide
Financial Corporation (NYSE: CFC) announced today it has appointed Jess
Lederman to serve as the company's Chief Risk Officer. Mr. Lederman joined
Countrywide in 2005 and served as Countrywide's Managing Director of
Products and Pricing before being named to his new role. A 27-year industry
veteran, Lederman spent nine years with Ohio Savings Bank, building and
leading its mortgage banking business prior to joining Countrywide. Mr.
Lederman will report directly to Kevin Bartlett, Chief Investment Officer.
"Jess is an extraordinarily talented and seasoned professional who
brings tremendous knowledge of risk management to his new role," said David
Sambol, President and Chief Operating Officer of Countrywide Financial
Corporation. "Countrywide is fortunate to have someone of Jess's caliber
and experience to help us navigate the current mortgage environment," added
Mr. Sambol.
In his new role, Mr. Lederman will lead Countrywide's credit and
counterparty risk management efforts and have oversight responsibility for
market and operational risks. In addition, Mr. Lederman will be responsible
for all mortgage insurance and credit enhancement relationships, and the
company's model validation process.
Mr. Lederman began his career in the financial services industry in
senior positions with Sears Mortgage Securities Corporation and Bear
Stearns where he co-founded two of the first private-sector counterparts to
Fannie Mae and Freddie Mac. He has also served as director of an affordable
housing organization in Jackson Hole, Wyoming, as well as Chairman of the
Mortgage Bankers Association's Capital Markets Committee in 2000. Mr.
Lederman has authored and published numerous written works on the mortgage
and global financial markets, and has written and lectured extensively on
diverse topics, including pipeline hedging and mortgage pricing strategy.
Mr. Lederman graduated Summa Cum Laude and Phi Beta Kappa from Columbia
University, where he received both his B.A. and MBA.
About Countrywide
Founded in 1969, Countrywide Financial Corporation is a diversified
financial services provider and a member of the S&P 500, Forbes 2000 and
Fortune 500. Through its family of companies, Countrywide originates,
purchases, securitizes, sells, and services home loans; provides loan
closing services such as credit reports, appraisals and flood
determinations; offers banking services which include depository and home
loan products; conducts fixed income securities underwriting and trading
activities; provides property, life and casualty insurance; and manages a
captive mortgage reinsurance company. For more information about the
Company, visit Countrywide's website at http://www.countrywide.com.
SOURCE Countrywide Financial Corporation
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Related links:
http://www.countrywide.com
CONTACT:
Investors, David Bigelow or Lisa Riordan,
+1-818-225-3550, or Media, 1-800-796-8448, all of Countrywide
Financial Corporation
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