Castaneda Gets Nod to Chair FHFB

President Bush has designated Alicia R. Castaneda to be the new chairman of the Federal Housing Finance Board, which oversees the Federal Home Loan Banks.Ms. Castaneda, who was sworn in on Jan. 12, is the newest member of the Finance Board. She replaces former Chairman John Korsmo, who had announced that he would step down, effective April 13. The new chairman previously worked at Bank of America's International Private Bank as a senior vice president. The two Democratic members of the Finance Board, who had a stormy relationship with Chairman Korsmo, welcomed the news. "Ms. Castaneda brings significant finance and banking experience to the Finance Board, and we look forward to working closely and collaboratively with her in this new role," Franz Leichter and Allan Mendelowitz said in a joint statement. In other news, the Finance Board has announced that Mark J. Tenhundfeld will be the agency's new general counsel, replacing Arnold Intrater, who retired on January. Mr. Tenhundfeld is currently assistant director for regulatory and legislative affairs at the Office of the Comptroller of the Currency. He starts his new job in May.