WASHINGTON, Sept. 17, 2018 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced that Manuel "Manolo" Sánchez Rodríguez has been elected to the Board of Directors. Mr. Sánchez served as Chairman and CEO of Compass Bank, Inc., a U.S. subsidiary of Banco Bilbao Vizcaya Argentaria, S.A., and is a banking, financial services, and technology expert. He joins a broadly experienced and diversely skilled Board that is focused on the company's continued stability and mission to provide access to safe, affordable mortgage financing in the United States.
"We are extremely pleased to welcome Manolo to the Fannie Mae Board of Directors," said Egbert L.J. Perry, Chairman of the Board. "We will benefit greatly from his vast banking and financial services experience, technology innovation track record, and deep business strategy expertise."
"Manolo is another strong addition to our exceptional Board of Directors," said Timothy J. Mayopoulos, Chief Executive Officer. "His extensive banking experience, financial services and technology expertise, and strong leadership qualities are a great complement to those of his peers on the Board. He will help guide us as we continue to deliver against our strategy, improve as a company, and look for ways to provide our customers the innovative tools and solutions they need to address the needs of both today's and tomorrow's homebuyers and renters."
Mr. Sánchez has been appointed to the Strategic Initiatives & Technology Committee and the Nominating & Corporate Governance Committee.
Mr. Sánchez is an adjunct professor at Rice University's Jones Graduate School of Business, Founder of Adelante Ventures LLC, and Founder Advisor to Spring Labs Inc. Mr. Sánchez was the President and Chief Executive Officer of Compass Bank, Inc. ("Compass Bank"), a U.S. subsidiary of Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA"), from December 2008 to January 2017. Mr. Sánchez also served as a member of BBVA's worldwide Executive Committee and was BBVA's Country Manager for U.S. operations from September 2010 to January 2017. In addition, Mr. Sánchez became Chairman of the Board of Directors of Compass Bank and its holding company, BBVA Compass Bancshares, Inc., in September 2010 and served in these roles until November 2017. Mr. Sánchez joined BBVA in 1990 and served in a number of other roles at BBVA prior to becoming President and Chief Executive Officer of Compass Bank in 2008, including as Senior Executive Vice President of Community Banking in 2008, President and Chief Executive Officer of Laredo National Bank (then newly-acquired by BBVA) from 2005 to 2008, and Chief Risk Officer for BBVA Bancomer in Mexico City from 2002 to 2005.
Mr. Sánchez currently serves as a trustee or member of the Board of Directors of a number of civic, cultural and educational institutions, including the Houston Symphony, KIPP Houston Public Schools, and the Center for Houston's Future.
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.
SOURCE Fannie Mae