Fannie Mae Announces Departure of Arne Christenson; Michele Davis To Serve as Acting Senior Vice President - Regulatory Policy
WASHINGTON, Dec. 15 /PRNewswire/ -- Fannie Mae (NYSE: FNM) today announced that Arne L. Christenson, Senior Vice President - Regulatory Policy, will be leaving the company in February 2004 to assume a new role as Senior Vice President of Government Affairs and head of American Express Company's Washington, DC office. Michele Davis, Fannie Mae's Vice President for Regulatory Policy and former Assistant Secretary for Public Affairs of U.S. Department of Treasury, will assume Christenson's duties. Christenson, who joined Fannie Mae five years ago, was responsible for managing the company's relationship with its regulators. "Arne is a team player whose contributions to Fannie Mae were exceptional. He understands the housing finance business and helped to develop and effectively communicate our public policy positions to policymakers, regulators, affordable housing constituencies, and the financial markets. He brought together a corporate- wide focus on meeting our Congressional charter mandates, which helped us better serve consumers by providing constant liquidity to mortgage markets, meeting our housing goals for underserved populations, and managing the company within safety and soundness regulations," said Frank Raines, Chairman and Chief Executive Officer of Fannie Mae. "We are fortunate to have someone with Michele's keen understanding of the public policy issues take on Arne's responsibilities." Michele Davis joined Fannie Mae in 2002 and has been responsible for the company's public policy research activities and policy development on a wide range of issues related to mortgage financing and the capital markets. Davis also manages key long-term regulatory and public policy projects. In her role at the Treasury Department, Davis was the Department's lead representative for media, business, professional trade organizations, consumer groups and the public. The Office of Public Affairs develops and implements communications strategy for the Department and advises officials within the Department and its bureaus how best to communicate issues and priorities of public interest. Davis also oversaw the Office of Public Liaison and the Office of Public Education. Previously, Davis served as communications director to House Majority Leader Dick Armey (R-TX) from 1997 until January 2001. In this position, Davis served as chief spokesperson for the Majority Leader's office and as an advisor to the House Republican leadership. Prior to that, Davis served as a top policy aide for the Majority Leader. Before joining the Majority Leader's staff, Davis served as an economist with the minority staff of the Joint Economic Committee in Congress. She also worked as an economist with Citizens for a Sound Economy, a free-market advocacy organization. A native of Louisville, Kentucky, Davis has a Master's degree in economics from American University and earned her B.S. in Foreign Service from Georgetown University. Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae is working to shrink the nation's "homeownership gaps" through a $2 trillion "American Dream Commitment" to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided $5.7 trillion of mortgage financing for 58 million families. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com. Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "FNM." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae."RELATED LINKS
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