Post 200: Top D.C.-Area Businesses

Sallie Mae / SLM

Arnold Hernandez, national spokesman for The Sallie Mae Fund's Paying for College Tour, meets with students around the country to talk about the opportunity to go to college. 

Arnold Hernandez, national spokesman for The Sallie Mae Fund's Paying for College Tour, meets with students around the country to talk about the opportunity to go to college.  (Photo: Courtesy of company.)

About Sallie Mae

12061 Bluemont Way, Reston, Va. 20190
www.salliemae.com | 703-810-3000 | Founded: 1972

Industry: Financial Services | Category: Top 100 Companies

After several years of acquisitions and after ending long-standing partnerships with several of the nation's largest banks, 2005 was a year of internal growth for Sallie Mae. Loan originations by its own brands rose 45 percent, accounting for $9.1 billion of the company's $21 billion in new loans.
The company also had to deal with a flood of student loan consolidations, triggered by historically low interest rates and clarification of federal rules that allowed students, including some still in school, to lock in low, fixed rates for as long as 30 years. Profit margins on such consolidated loans are lower than on some other loans, but they become a long-lived asset providing a steady flow of income over many years.
Some 62 percent of the company's $123 billion loan portfolio is now consolidated.
SLM made an acquisition last year, buying GRP Financial Services, a White Plains, N.Y., specialty finance company that purchases and "resolves" troubled mortgage loans.
Also last year, Albert L. Lord, who had been chief executive, was elected chairman, and Thomas J. "Tim" Fitzpatrick moved up to CEO from president. And in February 2006, the company named C.E. Andrews chief financial officer.

Chairman: Albert L. Lord

President: C.E. Andrews

2007 Financial Data

Total employees: 10,472 | Local employees: 914

Company Leadership

Thomas J. Fitzpatrick CEO
Albert L. Lord Chairman, former CEO
John F. Whorley EVP
June M. McCormack EVP
Kevin Moehn EVP
C.E. Andrews CFO

Source: S&P's Capital IQ

Thomas J. Fitzpatrick
CEO
$39,629,325
Salary: $682,500
Albert L. Lord
Chairman, former CEO
$9,630,773
Salary: $392,500
John F. Whorley
EVP
$2,305,904
Salary: $325,000
June M. McCormack
EVP
$2,272,673
Salary: $340,865
Kevin Moehn
EVP
$2,229,262
Salary: $300,000
C.E. Andrews
CFO
$1,169,869
Salary: $362,500

Did You Know

Though founded in 1972 as the government-sponsored Student Loan Marketing Association to provide a secondary market for government-guaranteed student loans, SLM has shed its government ties and become a private education financial services firm. Still known by its longtime nickname, Sallie Mae, it now originates, buys and services not only government-guaranteed student loans, but also private loans for students and parents from kindergarten through college.

© The Washington Post Company