Syron Cites 6 Initiatives

Freddie Mac is planning six key initiatives, including a refocusing of its mission, company chairman and chief executive officer Richard F. Syron told the Lehman Brothers Financial Services Conference in New York Wednesday.Mr. Syron said the refocused mission relates in particular to "our obligations to the affordable sector of the overall market we serve." The other five initiatives he cited are: getting the company's financial reporting current; providing more comprehensive financial reporting; achieving greater integration and efficiency to drive down expenses and "execute more effectively"; managing its capital account to enable it to execute its mission with "the efficiency that allows us to deliver long-term value to our equity holders"; and tackling regulatory issues. "There is nothing contradictory about being a company with private market discipline and transparency, and being a company with strong regulatory oversight," Mr. Syron said. The executive also touted his efforts to get Freddie's house in order by putting together a corporate team consisting of new hires such as Gene McQuade, who joined Freddie Mac as president and chief operating officer this month. Freddie Mac can be found online at http://www.freddiemac.com.