MCLEAN, Va., May 14, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) today announced that John Krenitsky has joined the company as senior vice president and chief compliance officer (CCO). Krenitsky brings with him extensive experience in managing compliance programs gained from over two decades working in the global financial services industry. Krenitsky will fully transition to the position of CCO effective June 1, following the retirement of current CCO Carol Wambeke.
“John’s sharp legal mind and experience in building and managing enterprise-wide compliance risk programs makes him the ideal person to be Freddie Mac’s chief compliance officer as we continue on our transformation journey. In short, he is the right person for the job at the right time for the company,” said Anil Hinduja, Freddie Mac executive vice president and chief enterprise risk officer. “On behalf of all of Freddie Mac, I would like to congratulate Carol Wambeke on her retirement and express my appreciation of her more than 20 years of service to the company. Over the last several years, she has played an integral role in Freddie Mac’s transformation.”
As chief compliance officer, Krenitsky will oversee and manage Freddie Mac’s compliance with legal and regulatory requirements and related controls that govern the company’s business activities.
Krenitsky joins Freddie Mac from Discover Financial Services, where he managed an enterprise-wide compliance risk program as chief compliance officer. Prior to that, he was chief compliance officer for BNP Paribas Subsidiaries, including BancWest Corporation and Bank of the West. Krenitsky also spent 13 years working for M&T Bank, first as a deputy general counsel and then as chief compliance officer.
Prior to joining M&T Bank, Krenitsky was a commercial litigation attorney in Buffalo, New York. He holds a Juris Doctor degree from the State University of New York at Buffalo, Law School and a bachelor’s degree in public policy from Hamilton College. He is a member of the compliance advisory council of the American Bankers Association and member of the American Bar Association, New York State Bar Association, and Erie County Bar Association.
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: Paul Frommelt
Source: Freddie Mac