(BPRW) Alanna McCargo Named President and Chief Executive Officer of the Federal Home Loan Bank of San Francisco
McCargo Brings Decades of Experience in Housing Finance, Community Development, and Financial Services
(Black PR Wire) SAN FRANCISCO – FHLBank San Francisco (Bank) announced that its board of directors has named Alanna McCargo as the Bank’s next president and chief executive officer. McCargo was most recently the President of the Government National Mortgage Association (Ginnie Mae), a federal government corporation that connects the United States housing market to capital markets, providing low-cost financing for federal housing programs through the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Federal Housing Administration and Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. McCargo made history as the first woman and first woman of color appointed to lead Ginnie Mae.
“We are very excited that Alanna is joining the Bank at this pivotal moment in time for us and our industry,” said Dan Siciliano, chair of the Bank’s board of directors. “Alanna is the type of transformative leader we need to continue the innovative and impactful programs the Bank has been delivering under the leadership of Teresa Bryce Bazemore, our current president and CEO.”
McCargo is a pioneer in the financial services industry with a distinguished career. Prior to her position as President of Ginnie Mae – to which she was nominated by President Joe Biden and confirmed by the U.S. Senate with bipartisan support – she served as senior advisor for housing finance at the Department of Housing and Urban Development under former Secretary Marcia Fudge and was vice president of the Housing Finance Policy Center at the Urban Institute. McCargo previously held leadership positions at CoreLogic, JP Morgan Chase, and Fannie Mae.
“I am looking forward to joining the team at the Federal Home Loan Bank of San Francisco and leading the critical work of providing reliable access to liquidity to Bank members and fulfilling the public mission to support affordable housing and deepen community investment,” said McCargo. “The role of the FHLBanks is essential to our financial system and contributes to the economic strength and stability of communities in our nation. Throughout my career, I’ve driven efforts to improve housing affordability and economic opportunity while managing the risks and the complexities of our housing finance system. I am excited to bring a new perspective to the Bank and, alongside my colleagues in the FHLBank System, work to solve the persistent housing challenges impacting the country. Together we’ll strengthen the value the Bank brings in meeting the liquidity demands of members and supporting affordable housing and community investment within Arizona, California, Nevada, and beyond. I am thrilled to be joining the Bank at this pivotal time.”
The Federal Home Loan Bank of San Francisco is a private member-owned cooperative, providing critical on-demand liquidity to help local lenders in Arizona, California, and Nevada build strong communities, create economic opportunity, and change lives for the better.
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