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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Freddie Mac    FMCC

FREDDIE MAC

(FMCC)
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Freddie Mac Names Frank Nazzaro Chief Information Officer

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10/17/2019 | 04:16pm EST

MCLEAN, Va., Oct. 17, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that Frank Nazzaro has been named executive vice president and chief information officer (CIO) of the company. He is a member of the senior operating committee and reports directly to CEO David Brickman.

Nazzaro, who joined Freddie Mac in 2018 as the Chief Technology Officer (CTO) and has been Acting CIO since May 2019, brings more than 20 years of executive experience in technology and financial services to the company. As CIO, he will head the Information Technology division and provide corporate-wide leadership for the company’s technology strategy, including the employee technology experience.

“Frank has demonstrated that he is the right person at the right moment to deliver technology solutions that make us faster, smarter and more efficient,” said David Brickman, Freddie Mac chief executive officer. “I look forward to his leadership in creating a world class operating platform that delivers lasting benefits for our company while responsibly managing our risks.”

“It’s a pivotal and exciting time to be at Freddie Mac. We’re not only transforming our infrastructure and tools, we’re modernizing the way we work,” said Nazzaro. “I’m honored to have the opportunity to further advance our technology strategy, which is key to better and more resilient systems that protect our company while meeting the demands of our customers and employees.”

Prior to his career at Freddie Mac, Nazzaro held a number of senior technology and management roles within the financial services industry. He served as Group Vice President and CTO for Travelport LLC, where he led cloud architecture, infrastructure and operations globally. Before that, he served as CTO at CIT Group.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT: Ruth Fisher
703-903-3974
Ruth_Fisher@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/748e10ef-4f31-4c70-979b-8032674c5f9

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Freddie Mac Chief Information Officer

Frank Nazzaro

© GlobeNewswire 2019
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Financials (USD)
Sales 2019 11 598 M
EBIT 2019 -
Net income 2019 -717 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -11,4x
P/E ratio 2020 -
Capi. / Sales2019 0,70x
Capi. / Sales2020 0,65x
Capitalization 8 069 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 5,50  $
Last Close Price 2,51  $
Spread / Highest target 179%
Spread / Average Target 120%
Spread / Lowest Target 59,7%
EPS Revisions
Managers
NameTitle
David M. Brickman President, Chief Executive Officer & Director
Sara Mathew Non-Executive Chairman
James G. Mackey Chief Financial Officer & Executive Vice President
Frank Nazzaro Chief Information Officer & Executive VP
Eugene B. Shanks Independent Director
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