Northwestern Financial Review - Des Moines Home Loan Bank names chief executiveThe Federal Home Loan Bank of Des Moines has elected Richard S. Swanson as President and CEO effective June 1, 2006. Swanson is an attorney, veteran bank CEO and former director of the Federal Home Loan Bank of Seattle. He replaced Neil Fruechte, who served as acting president and CEO for the bank since late December 2005, when Pat Conway suddenly resigned.
Swanson is the former chairman and CEO of HomeStreet Bank in Seattle. Under his leadership, HomeStreet Bank became the largest privately held bank in the coastal Pacific Northwest serving Washington, Oregon, Idaho and Hawaii. As an industry-elected director from HomeStreet Bank, Swanson served as vice chair on the board of directors of the Federal Home Loan Bank of Seattle until early 2003. After his service to HomeStreet Bank he became a principal of the Seattle law firm of Hillis, Clark, Martin and Peterson where he provided counsel in the areas of finance, banking law and SEC regulation.
"Dick Swanson has the exact skill set the bank needs to continue serving our member banks in the years to come," said Randy Newman, chairman of the board. "He understands the needs of our members because he was the CEO of a community bank for over a decade. His extensive financial and legal background will also serve the bank and its members well."
Swanson has been a leader in developing and implementing affordable housing programs. He was a founder of the Washington Community Reinvestment Association and has served on the board of the Mortgage Bankers Association of America. In 2002, he was awarded the Distinguished Service Award by the Mortgage Bankers Association. He has also been chairman of the Washington Business Roundtable and a member of the Fannie Mae National Advisory Council.
He currently serves as a director of Triad Guaranty, Inc and Alaska Growth Capital.
Swanson has an undergraduate degree from Harvard College and a law degree from Stanford Law School.
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