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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 16 December 2023 M O V E R S & S H A K E R S relationships, 200,000 commercial clients, 6,100 banking centers, and 18,000 ATMs. Drummond began his career at Eastman Kodak company, where he held several senior management positions including Divisional VP and General Manager of Dental Products, Divisional VP and Regional General Manager of Professional Products–Latin American region, Corporate VP and COO of the Professional Products Division. He is also the Founder of Dream- seeds—a children's performing arts program at YMCA of Greater Rochester. He was recipient of the Rochester Area Community Foundation Award in 2000, and Rochester Mayor Unsung Heroes Award in 2001. He also received the University of Rochester Simon Business School Distinguished Alumnus Award in 2005 and Charlotte American Diabetes Association Father of the Year in 2005. LARRY E. THOMPSON ELECTED BOARD CHAIR OF THE FEDERAL HOME LOAN BANK OF NEW YORK The Federal Home Loan Bank of New York (FHLBN) has announced that Larry E. Thompson has been elected by its Board of Directors to serve as Board Chairman for a two-year term that will commence on January 1, 2024. Thompson is the former Vice Chair of The Depository Trust & Clearing Cor- poration (DTCC), and has served on the FHLBNY's Board as an Independent Di- rector since January 1, 2014. He currently serves as the Board's Vice Chair, and as Chair of the Board's Risk Committee. He is the Chair-Elect of the Council of Federal Home Loan Banks, which serves as the public voice of the Federal Home Loan Bank System. "The critical importance of the FHLBNY's foundational liquidity mission has been on full display throughout 2023, as has the vital role we play in providing reliable funding for our members and dependable and consistent support to communities across New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands," Thompson said. "It is a true honor to serve as chair of this coopera- tive, and I thank my fellow Directors for the trust they have put in me. The Board and management look forward to con- tinuing to strengthen our franchise and further enhance the positive impact our cooperative makes in the lives of so many across our region." Thompson was Vice Chair of DTCC through the end of 2018, and previously served as Chief Legal Officer/General Counsel of the firm since 2005. He has more than 30 years of experience as a Senior Executive in corporate law, risk management and regulatory affairs. In his role as DTCC Vice Chair, Thompson served as a Senior Advisor to DTCC and was responsible for all legal and regu- latory activities of the company and its subsidiaries. He regularly interfaced with government and regulatory agencies on issues impacting the company. Thompson was also Chair of the Board of DTCC Deriv/SERV LLC and former Chair of the DTCC Operating Committee. He was a member of the DTCC Manage- ment Committee, which is comprised of the company's executive leadership. In addition, Thompson was a member of the DTCC Management Risk Committee, where he helped oversee and assess a broad range of issues related to market, capital, and operational risks facing the corporation. Thompson previously served as Chair of a DTCC Board Subcommittee charged with reviewing the potential risk "The critical importance of the FHLBNY's foundational liquidity mission has been on full display throughout 2023, as has the vital role we play in providing reliable funding for our members and dependable and consistent support to communities across New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands." —Larry E. Thompson, Board Chairman, Federal Home Loan Bank of New York