Freddie Mac Names Subha V. Barry SVP, Chief Diversity Officer

MCLEAN, Va., Aug. 30 /PRNewswire/ -- Freddie Mac (OTC Bulletin Board: FMCC) today named Subha V. Barry to the position of chief diversity officer (CDO).  In this position, Barry will lead the company's newly formed Office of Diversity and Inclusion, with overall responsibility for the combined functions of Diversity and Inclusion and Supplier Diversity.  She will be responsible for developing business strategies focused on the needs of a diverse workforce, working closely with other members of Freddie Mac's senior management team to ensure the company is effectively utilizing diverse talent (both within its employee base and its suppliers), enhance the annual diversity planning process and manage performance against the company's diversity plans.  Barry will also design and launch the new Executive Diversity Council.  She will report directly to CEO Charles E. "Ed" Haldeman, Jr., with whom she will jointly lead the Executive Diversity Council, and will be a member of Freddie Mac's management committee.  In addition, Barry will work with Freddie Mac's business units to ensure the maximization of opportunities in diverse market segments.

"Creating the Office of Diversity and Inclusion and having someone of Subha's talent and experience in this new executive position is a critical step in Freddie Mac's forward progress," said Haldeman. "As a company devoted to creating housing opportunities for individuals and families from all backgrounds and walks of life, it's essential that Freddie Mac – through our employee base and network of suppliers – reflect the many varied communities whom we serve and from which we recruit our employees."

Barry joins Freddie Mac from Merrill Lynch & Co., Inc., where she most recently served as managing director, global head of Diversity & Inclusion.  In that role, she was responsible for the development and implementation of the company's diversity and inclusion strategy, successfully aligning Merrill Lynch's US-centric diversity and inclusion efforts with its global business operations.  Prior to assuming that position in 2005, Barry served as managing director, Multicultural and Diversified Business Development, a position in which she created Merrill Lynch's business development initiative designed to target multicultural communities in the U.S. and U.K.  She previously served as first vice president of investments & resident director, managing an office of financial advisors and providing financial advice, planning, analysis and investment management to families and institutions.  She joined Merrill Lynch in 1989.

Barry holds a B.A. in Accounting, Mathematics & Economics from Bombay University and an M.B.A. and Master of Accounting, from Rice University.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.  www.FreddieMac.com

SOURCE Freddie Mac