RESTON, Va., March 4, 2008—Sallie Mae (NYSE: SLM), the nation’s leading saving- and paying-for-college company, today announced that it has appointed John (Jack) Hewes executive vice president and chief credit officer. In this newly created role, Hewes will oversee the company’s private student loan underwriting policies and credit risk management.
Hewes spent the last 22 years of his career at MBNA, the world’s largest independent credit card issuer, where he led the consumer finance and business lending divisions.
“This is a critical role for the company. We enthusiastically add Jack to our executive management team,” said Albert Lord, CEO. “Asset quality is key to our success, and Jack has the experience to ensure we grow through sound, profitable lending practices.”
The company also announced that Jonathan Clark will join Sallie Mae as senior vice president, corporate finance. He will lead the company’s unsecured debt issuance and treasury operations, and assist the asset-backed securitization team. Clark comes to Sallie Mae from Credit Suisse, where he built one of the premier finance teams serving the student loan industry. He has also worked at several financial services companies, including Prudential Securities, First Boston and Dean Witter, and Hewlett Packard.
“Jon brings extensive knowledge of our industry and direct experience in student loan financing,” said Jack Remondi, vice chairman and CFO. “I am pleased to welcome him to our team.”
For more information contact:
Tom Joyce (703) 984-5610 (media)
Steve McGarry (703) 984-6746 (investor)
SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, is the nation’s leading provider of saving- and paying-for-college programs. The company manages nearly $178 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $19 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 9.4 million members and $450 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at
www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.