Freddie Mac 2010 Annual Report Download - page 296

same year. He was an adjunct professor at the Stern School of Business at New York University from 2002 to 2004,
and at the Graduate School of Business at Columbia University from 2002 to 2006. In 2001, Mr. Rose served as Vice
Chairman and Chief Operating Officer of JP Morgan, the investment bank of J.P. Morgan Chase & Co. Previously, he
worked at J.P. Morgan & Co. Incorporated from 1981 to 2000, where, among other positions, he was head of the
Global Investment Banking and the Global Equities Divisions and served as a member of the firm’s executive
committee. Mr. Rose is a member of the board of directors of XL Group plc, where he is a member of the
Nominating, Governance and External Affairs Committee and the Risk and Finance Committee. He is a trustee of the
Howard Hughes Medical Institute and the National Opinion Research Center at the University of Chicago, and is a
director of Public/Private Ventures. From November 2007 to March 2010, he served as Chairman of the board of
managers of Highbridge Capital Management, an alternative investment management firm owned by JPMorgan
Chase & Co. Mr. Rose previously served as a member of the boards of directors of Mercantile Bankshares
Corporation from September 2003 to April 2007 and of Lexicon Pharmaceuticals, Inc. from September 2003 through
October 2007.
• Eugene B. Shanks, Jr. joined the Board in December 2008. He is 63 years old. He is an experienced finance executive
with leadership and risk management expertise. Mr. Shanks’ leadership and risk management experience enables him
to provide the Board with valuable guidance on risk management issues and our strategic direction.
Mr. Shanks is a Trustee of Vanderbilt University and a consultant to the board of directors of ACE Limited, a member
of the Advisory Board of the Stanford Institute for Economic Policy Research, a director of NewPower Holdings, Inc.,
and a founding director at The Posse Foundation. From November 2007 until August 2008, Mr. Shanks was a senior
consultant to Trinsum Group, Incorporated, a strategic consulting and asset management company. From 1997 until its
sale in 2002, Mr. Shanks was President and Chief Executive Officer of NetRisk, Inc., a risk management software and
advisory services company he founded. From 1973 to 1978 and from 1980 to 1995, Mr. Shanks held a variety of
positions with Bankers Trust New York Corporation, including head of Global Markets from 1986 to 1992 and
President and Director from 1992 to 1995. From 1978 to 1980, he was Treasurer of Commerce Union Bank in
Nashville, Tennessee.
• Anthony A. Williams joined the Board in December 2008. He is 59 years old. He is an experienced leader of state
and local governments, with extensive knowledge concerning real estate and housing for low-income individuals. He
also has significant experience in financial matters and is an experienced academic focusing on public management
issues. Mr. Williams’ leadership and operating experience in the public sector allows him to provide a unique
perspective on state and local housing issues.
Mr. Williams is the William H. Bloomberg Lecturer in Public Management at Harvard’s Kennedy School of
Government. Since January 2010, he has served as Executive Director of the Government Practice at The Corporate
Executive Board Company. Since May 2009, Mr. Williams has been affiliated with Arent Fox LLP, a law firm. Prior
to this, Mr. Williams served as the Chief Executive Officer of Primum Public Realty Trust, beginning in January 2007.
Mr. Williams served as the Mayor of Washington, D.C. from 1999 to January 2007, and as its Chief Financial Officer
from 1995 to 1998. In 2005, Mr. Williams served as Vice Chair of the Metropolitan Washington Council of
Governments, and in 2004, Mr. Williams served as President of the National League of Cities. From 1993 to 1995,
Mr. Williams was the first Chief Financial Officer for the U.S. Department of Agriculture. From 1991 to 1993,
Mr. Williams was the Deputy State Comptroller of Connecticut. From 1989 to 1991, Mr. Williams was the Executive
Director of the Community Development Agency of St. Louis, Missouri. From 1988 to 1989, Mr. Williams was an
Assistant Director with the Boston Redevelopment Authority where he led the Department of Neighborhood Housing
and Development, one of the Authority’s four primary divisions. Mr. Williams is a director of Meruelo Maddox
Properties, Inc., where he is a member of the Audit Committee and the Nominating and Corporate Governance
Committee. Mr. Williams is also a member of the Board of Trustees of the Calvert Sage Fund and of each fund
comprising the Calvert Multiple Funds.
Authority of the Board and Board Committees
The directors serve on behalf of, and exercise authority as directed by, the Conservator. The Conservator has delegated
to the Board and its committees authority to function in accordance with the duties and authorities set forth in applicable
statutes, regulations and regulatory examination and policy guidance, and our Bylaws and Board committee charters, as such
duties or authorities may be modified by the Conservator. The Conservator has instructed the Board that it should consult
with and obtain the approval of the Conservator before taking action in the following areas:
• actions involving capital stock, dividends, the Purchase Agreement between us and Treasury, increases in risk limits,
material changes in accounting policy, and reasonably foreseeable material increases in operational risk;
293 Freddie Mac