Federal Home Loan Bank of Chicago Announces President and CEO Transition

CHICAGO, August 4, 2020 /PRNewswire/ — The Federal Home Loan Bank of Chicago (FHLBank or Chicago Bank) today announced Matthew R. FeldmanChairman and Chief Executive Officer, has announced his intention to retire with effect December 31, 2020. Mr. Feldman has held his current position for May 2008and has worked at the Bank for September 2003.

The FHLBank Chicago Board of Directors has accepted Mr. Feldman’s retirement plans and appointed Michael A. EricsonChief Operating Officer, successor to Mr. Feldman as of January 1, 2021.

“I am honored to have been able to serve the Bank, our members and their communities for so many years and to work alongside such a talented and committed group of colleagues,” Mr. Feldman said. “I am pleased that the Council has appointed Michael Ericson as my successor, as I have worked closely with him for many years and have tremendous respect for his ability to lead this Bank into the future with the support of our excellent management team, senior management and the board of directors. »

During his tenure, Mr. Feldman transformed the Bank to be mission-driven, focusing on the needs of members in Illinois and Wisconsin and advocate for member-led community investments and economic development activities in the communities where our members serve.

“On behalf of the FHLBank Chicago Board of Directors, I would like to thank Mr. Feldman for his outstanding service to our members and the Federal Home Loan Bank System,” said John Reinke, Chairman of the Board of Directors. “He is an iconic, principled and much-admired leader who has touched us deeply in many positive ways. The results of his longstanding leadership are an example of great stewardship for all of us. Ericson, a member of Mr. Feldman’s team for many years, as our next President and CEO, as he is uniquely qualified to lead our Bank into our next great chapter.”

Mr. Ericson was appointed Chief Operating Officer of the Bank in January 2020and has worked for FHLBank Chicago since January 2005 having previously served as Executive Vice President, Group Head, Members and Markets, as well as Executive Vice President, Chief Risk Officer. Mr. Ericson is a Fellow of the Daniel Burnham Fellowship of Leadership Greater Chicago.

“It is truly an honor to be able to serve the Bank and our members alongside colleagues who believe in and support the Bank’s mission, and I look forward to the opportunities that come our way,” said Mr. Ericson.

About the Federal Home Loan Bank of Chicago
The mission of the Federal Home Loan Bank of Chicago is to partner with our member institutions in Illinois and Wisconsin provide them with financing at competitive prices, a reasonable return on their investment in the Bank and support for community investment activities. FHLBank Chicago is one of 11 federal home lending banks chartered by the US Congress in 1932 to promote home ownership. Our members include banks, savings and credit unions, insurance companies and community development financial institutions throughout our district. To learn more about FHLBank Chicago, please visit fhlbc.com or follow @FHLBC on Twitter.

SOURCE Federal Home Loan Bank of Chicago

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