FREDDIE MAC NAMES ANTHONY (BUDDY) PISZEL AS CHIEF FINANCIAL OFFICER
Freddie Mac (NYSE:FRE) has announced that Anthony S. (“Buddy”) Piszel has been named executive vice president and chief financial officer, effective November 13. Piszel will serve as a member of the company’s senior executive leadership team and report directly to President and Chief Operating Officer Eugene M. McQuade.
As chief financial officer, Piszel will have broad responsibility for the company’s financial controls, financial reporting, tax, capital oversight, and compliance with the requirements of Sarbanes-Oxley. He will also oversee the company’s annual budgeting and financial planning processes.
Richard F. Syron, Freddie Mac’s Chairman and Chief Executive Officer, said, “With the expertise Buddy brings to the Freddie Mac team, I am confident we will put in place the first-class financial controls we need to successfully meet our long-term business goals and fulfill our mission to help put more American families into their own homes.”
“Buddy Piszel brings deep financial and accounting experience to Freddie Mac,” McQuade said. “His broad experience, particularly in financial remediation, will be a tremendous asset to Freddie Mac as we continue our ongoing efforts to enhance our internal financial reporting infrastructure and return to timely, GAAP-compliant financial reporting.”
Piszel, 51, joins Freddie Mac from Health Net, Inc., where he served as executive vice president and chief financial officer since August 2004. While at Health Net, one of the nation’s largest publicly traded managed health care companies, he was responsible for all of the organization’s finance functions, including accounting, risk management, treasury and financial planning.
Prior to joining Health Net, Piszel served for more than a decade in senior financial positions at Prudential Financial, Inc., most recently as senior vice president and corporate controller from 1998 to 2004. He also served as Prudential’s corporate vice president assigned to special finance projects, chief financial officer of the individual life insurance business and chief financial officer of the asset management and retirement business. Piszel played a leading role in transforming Prudential from a private company to a public, SEC registered, company.
Before joining Prudential, Piszel was an audit partner with Deloitte & Touche. He also served for two years as a practice fellow with the Financial Accounting Standards Board.
Piszel received an M.B.A. in accounting from Golden Gate University and a B.A. in economics from Rutgers University. He serves on the board of directors and as chairman of the audit committee of RehabCare Group, Inc.
This press release and additional information, including information regarding Piszel’s employment arrangements with Freddie Mac, will be included in an Information Statement Supplement to be posted on the company’s Web site at www.FreddieMac.com/investors.
Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.