Sallie Mae hired Kenneth Fischbach as director of capital markets. In his new role, Fischbach will assume the capital markets responsibilities of Jonathan Clark, who was appointed chief financial officer in January and now the firm's executive vice president & CFO. Additionally, Fischbach also continue to manage the student lender's rating agency relationships.
Fischbach brings 29 years experience in banking and financial services leadership to his new position. Previously, was managing director at Residential Capital, and a senior vice president at MBNA. Fischbach also plays an active role in both the American Securitization Forum and the American Financial Services Association.
“Our capital markets and treasury activities remain a critical component of our ongoing success,” said Clark, . “Ken’s appointment brings both continuity and expertise to the role, each of which will benefit the organization.”
Steven McGarry, senior vice president, investor relations, will have added responsibility for fixed-income investor relations. He joined the company’s corporate finance team in 1997 and has led equity investor relations since 2003.
Sallie Mae serves 23 million customers and manages $235 billion in education loans. It also administers $35 billion in 529 college savings plans.