Atlanta FHLB President Resigns

In a surprise move, Richard Dorfman, president of the Federal Home Loan Bank of Atlanta resigned effective Friday. Sources indicate his contract with the FHLB expires June 30 and the former Wall Street executive will be making an announcement soon about his future job plans. The Wall Street Journal is reporting that Dorfman has landed a job with the Securities and Financial Markets Association. The FHLB's executive vice president and general counsel Jill Spencer has been named interim president and chief executive. "Our team successfully executed its mission during an unprecedented credit crisis and economic downturn. These events clearly displayed the value and importance of our institution," Mr. Dorfman said in statement issued by the Atlanta FHLB. He has served at the FHLB since 2007.