Press Release

San Francisco—The Board of Directors of the Federal Home Loan Bank of San Francisco has promoted John D. Clarke to Vice President, Treasury; John Davis to Vice President, Sales & Marketing; Jonathan D. Kibrick, Vice President, Financial Risk Management; Antonio D. Ruscitti, Vice President, Treasury; and Steve Wagner, Vice President, Treasury.

Joining the Bank in January 2001, John Clarke is primarily responsible for purchasing securities for the Bank's $16 billion mortgage-backed securities (MBS) portfolio. He is also responsible for funding and hedging mortgage loans purchased from the Bank's members. Before joining the Bank, Mr. Clarke worked for CoBank ACB, the largest bank in the Federal Farm Credit System, where he was responsible for its MBS portfolio. He earned a B.S. in Electrical Engineering at Purdue University and an M.B.A. from The Anderson School at the University of California at Los Angeles.

In August 1996, John Davis joined the Bank as a Financial Analyst in the Treasury Department. He is responsible for the Bank's product and business development. Prior to joining the Bank, Mr. Davis spent three years at Wells Fargo Bank. He earned his B.A. in International Relations with an emphasis on Economics from the University of California at Davis and an M.B.A. from the Monterey Institute of International Studies.

Jonathan Kibrick joined the Bank in May 1995 as a Senior Financial Analyst in the Treasury Department. He currently manages mortgage portfolio reporting, market value analysis, and derivative valuation within Financial Risk Management. Prior to joining the Bank, he served as Senior Financial Consultant for Asset Liability Management and Treasury at Wells Fargo Bank. He received a B.S. in Nuclear and Mechanical Engineering from the University of California at Berkeley and an M.B.A. from the University of Michigan. He is a Chartered Financial Analyst.

Joining the Bank in August 1996, Tony Ruscitti directs the execution of the Bank's financial markets transactions, including short- and long-term debt, interest rate swaps, and non-MBS investments. He ensures appropriate levels of liquidity by overseeing the Bank's funding and investment activities and manages the day-to-day financial operations of the Bank, including its interest rate risk profile. Before joining the Bank, Mr. Ruscitti worked at Garvin GuyButler as a derivatives broker, and before that as an Investment Specialist for World Savings. He earned a B.A. in International Relations from Carleton College and an M.B.A in Finance from the University of California at Berkeley.

Steve Wagner joined the Bank in June 2000 as a consultant to the Chief Financial Officer, and subsequently accepted a management position in the Treasury Department. His responsibilities include the Treasury analytics function, capital markets research, and funding and hedging strategy development and administration. Before joining the Bank, Mr. Wagner spent 14 years with Bank of America as a Vice President, responsible for term funding and capital management. He received a B.S. in Accounting from the University of Wisconsin.

The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank serves and is owned by 342 commercial banks, savings institutions, credit unions, and thrift and loan companies headquartered in Arizona, California, and Nevada.

Contact:
Tracy Fine, (415) 616-2707
finet@fhlbsf.com

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