Antiguan Named Chairman of Fannie Mae ******************************** ATLANTA, Ga – The Federal Housing Finance Agency (FHFA) has announced the appointment of Integral Chairman and CEO Egbert LJ Perry to the position of chairman of the board of directors of Fannie Mae. This represents one of the highest positions ever held by a Caribbean national in business in the United States. Perry, who has served on the Fannie Mae Board since 2008, will continue to serve in his current positions at Integral and will assume the chairmanship at Fannie Mae in late March. “As we continue to support America’s economic recovery through the creation of a better housing finance system, we are excited and honoured to have Egbert as our new chairman,” said Tim Mayopoulos, CEO of Fannie Mae. “Egbert’s appointment further reflects our commitment to the continued reform of the nation’s housing finance system.” Perry is the youngest boy in his family, and the 9th of 11 children of Margaret Maggie and Percival Percy Perry. He was born in St Johns, Antigua and attended St Josephs Academy. In 1970, at the age of 14, he was on track to emulate his oldest brother, Dr Percival Pep Perry, a nuclear physicist living in English Harbour, who according to Antigua Grammar School records, had been the only student to graduate holding the titles of number one student and athlete in his class. But a different story would be written for the younger Perry, who that year won a scholarship to complete his last two years of high school at a private boarding school in New York. There, he would spend much of his non-classroom time working odd jobs to save up for college. After graduation, he attended the University of Pennsylvania, where he graduated with honours and years later was admitted to the Gallery of Distinguished Engineering Alumni; the 11th student recognised in the then 250th year history of the University. He has served on the board of the University since 1996. After leaving university, Perry entered the business world, and over a 13-year career as president of a small real estate and construction firm in Atlanta, he helped to grow that business into the nations third largest black-owned business. He would then go on to start his own firm, The Integral Group, where he currently serves as chairman and CEO. Perry founded Integral in 1993 to provide real estate development, advisory, and investment management services and is a celebrated innovator in urban revitalization. Today, Integral is a diversified, vertically-integrated real estate and infrastructure development company with about 300 employees. The company has successfully developed urban infill projects in more than a dozen markets nationally with a strong presence in Atlanta, Denver, and San Francisco and a growing international presence in the Caribbean and Africa. Perry has extensive experience in developing public-private partnerships for major urban mixed-use projects and places a keen focus on creating value in cities and transforming communities. Complementing his leadership at Integral, Perry has served on the board of trustees of the University of Pennsylvania since 1996, is the current chair of Central Atlanta Progress and the Advisory Board of The Penn Institute for Urban Research, and a former board member of the Federal Reserve Bank of Atlanta. “Fannie Mae plays an essential role in helping millions of Americans gain access to affordable homeownership and rental housing, and I am honoured to leverage my experience to partner with Director Watt, my fellow board members and the Fannie Mae management team to support this very important organization and its work,” said Perry. “Fannie Mae has made significant progress over the last five years, and I look forward to playing an expanded role in its next chapter.” Since 2009, Fannie Mae has provided more than $4.1 trillion in liquidity, enabling 3.7 million home purchases and 12.3 million refinanced mortgages. The company has also helped mitigate foreclosures through 1.5 million workout solutions and more than 1 million loan modifications since 2009. Most recently, Fannie Mae announced fourth quarter earnings of $6.5 billion and that it would pay dividends totaling $7.2 billion in March. Once the March dividend payment is made, Fannie Mae will have paid the government $121.1 billion, exceeding the size of the federal preferred stake of $117.1 billion. caribarenaantigua/antigua/business/business-news/106220-antiguan-named-chairman-of-fannie-mae.html
Posted on: Mon, 17 Mar 2014 14:32:49 +0000
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