Federal Home Loan Bank of San Francisco Announces Departure of Chief Executive Officer and Appointment of Interim Chief Executive Officer

FOR IMMEDIATE RELEASE: 

Federal Home Loan Bank of San Francisco Announces Departure of Chief Executive Officer and Appointment of Interim Chief Executive Officer 

The Federal Home Loan Bank (FHLBank) of San Francisco announced today that its board of directors and Chief Executive Officer (CEO) Alanna McCargo have jointly determined that, effective immediately, Ms. McCargo will step down as President and CEO. She will transition into an advisory role through December 31, 2025. 

Joseph E. Amato, the FHLBank of San Francisco’s current Executive Vice President and Chief Financial Officer, will serve as interim President and CEO, effective January 30, 2025, while the board of directors launches a search for a new CEO. Mr. Amato will continue to serve as Chief Financial Officer, a position he has held since May 2021. Mr. Amato joined the FHLBank of San Francisco as Executive Vice President and Senior Financial Officer in October 2020. Prior to that, Mr. Amato served as Chief Financial Officer of the FHLBank of Des Moines from May 2016 to June 2019. 

For additional information, please see the full announcement on the FHLBank of San Francisco website or review FHLBank of San Francisco Form 8-K filing available on the U.S. Securities and Exchange Commission website, www.sec.gov.  

The FHLBanks have delivered innovation and service to the U.S. housing market since 1932, and currently have approximately 6,500 members serving all 50 states, the District of Columbia, and U.S. territories. Please contact Tom Heinle at (703) 467-3646 or theinle@fhlb-of.com for additional information.