Giants in Finance
Richard F. Syron, CEO of Freddie Mac
Wednesday, April 30th, 2008
Richard F. Syron is Chairman and Chief Executive Officer of Freddie Mac (NYSE: FRE). Mr. Syron joined Freddie Mac in December 2003 from Thermo Electron, an S&P 500 company with 11,000 employees doing business in 30 countries and a world-leader in the design and development of high-tech instruments. Mr. Syron joined Thermo Electron in June 1999 as President and Chief Executive Officer, and became Chairman in January 2000.
Prior to his role at Thermo Electron, Mr. Syron was Chairman and Chief Executive Officer of the American Stock Exchange (Amex). Mr. Syron joined the Amex as Chief Executive Officer in 1994 and for five years led it through a period of remarkable growth, including a merger in 1999 into the National Association of Securities Dealers (NASD).
Prior to joining the Amex as Chief Executive Officer, Mr. Syron held senior posts in the banking sector including top positions at the Federal Reserve Bank of Boston and at the Federal Home Loan Bank of Boston. During his time at the Federal Reserve from 1989 through 1994, Mr. Syron helped shape monetary policy as a member of the Federal Reserve Board's monetary policy making Federal Open Market Committee. Mr. Syron also was sponsor of a landmark study on racial discrimination in mortgage lending during this time, and was the key figure in the restructuring of New England's banking system following the strains from the 1980s and early 1990s.
Before joining the Federal Home Loan Bank of Boston as President in 1986, Mr. Syron held a number of policy and staff positions with the Federal Reserve System, including assistant to the Chairman of the Federal Reserve Board Paul Volcker beginning in January 1981 through early 1982.
In addition to his role with Freddie Mac, Mr. Syron serves as director emeritus of the Freddie Mac Foundation's board of directors. Mr. Syron is also a trustee and former Chairman of the board of trustees of Boston College, a trustee of the Woods Hole Oceanographic Institute, a member of the board of directors of the Genzyme Corporation, and a member of the board of Homes for Working Families.
Mr. Syron earned his undergraduate degree from Boston College and masters and doctorate degrees in economics from Tufts University.