NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced the
appointment of Steven McGarry as executive vice president and chief
financial officer of the future holding company of Sallie Mae Bank. The
appointment will take effect upon the separation of the consumer banking
and loan management, servicing and asset recovery businesses.
“I am delighted to welcome Steve to the executive management team of the
new Sallie Mae,” said Raymond Quinlan, current vice chairman of Sallie
Mae who will assume the roles of Executive Chairman of the Board and
Chief Executive Officer upon the company’s transition to a stand-alone
consumer banking business. “His broad experience within our finance
operation, his mastery of our business and his deep industry knowledge
make him the ideal candidate as we grow and diversify our business.”
Most recently, Mr. McGarry was senior vice president, corporate finance,
with responsibility for all of the company’s funding activities as well
as the management of the corporation’s rating agency relationships and
equity and fixed income investor relations. He joined the company’s
corporate finance team in 1997. Prior to joining Sallie Mae, Mr. McGarry
held treasury positions with Toronto Dominion Bank in both London and
Mr. McGarry received a Bachelor of Arts degree in economics from Stony
Brook University and a Master of Business Administration in finance from
New York University.
Sallie Mae (NASDAQ: SLM) is the nation’s No. 1 financial services
company specializing in education. Whether college is a long way off or
just around the corner, Sallie Mae turns education dreams into reality
for American families, today serving more than 25 million customers.
With products and services that include Upromise rewards, scholarship
search and planning tools, education loans, insurance, and online
banking, Sallie Mae offers solutions that help families save, plan, and
pay for college. Sallie Mae also provides financial services to hundreds
of college campuses as well as to federal and state governments. Learn
more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.