Pollock to Head Chicago Home Loan Bank
WASHINGTON - Alex J. Pollock was appointed president and chief executive officer of the Federal Home Loan Bank of Chicago, effective Oct. 1.
Mr. Pollock succeeds Leo B. Blaber Jr., who announced in June that he would step down this fall. Mr. Blaber will retire on Sept. 30 from the post that he has held since 1980.
For the past year, Mr. Pollock has been a visiting scholar at the Federal Reserve Bank of St. Louis. He previously was president of the Marine Bank, Milwaukee. From 1969 to 1985, he worked for Continental Illinois National Bank, Chicago, rising to the post of senior vice president for corporate planning, research, and development.
The Home Loan banks, established during the Depression to funnel housing credit to thrifts, were authorized in 1989 to begin recruiting commercial banks and credit unions.
The Chicago bank, with 269 members in Illinois and Wisconsin, is one of the smaller banks in the system. Although it is highly capitalized, demand for its loans has been meager, and dividends paid to members on its stock have been the lowest in the system.
