Sallie Mae Appoints Steven McGarry Senior Vice President, Corporate Finance

Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced the appointment of Steven McGarry as senior vice president, corporate finance, effective immediately.

In this role, Mr. McGarry will assume responsibility for all of the company’s funding activities as well as the management of the corporation’s rating agency relationships and equity and fixed income investor relations.

“Our capital markets and treasury activities are critical functions of our growing and evolving organization,” said Joseph DePaulo, executive vice president, banking and finance. “Steve has the experience and talent to lead in this role as we execute our recently announced plan to separate the company.”

Mr. McGarry joined the company’s corporate finance team in 1997 and took leadership of equity investor relations in 2003 and fixed income investor relations in 2011. He began his career in finance in 1985 with the Toronto Dominion Bank where he held treasury positions in both London and New York.

Mr. McGarry received a Bachelor of Arts degree in economics from Stony Brook University and a Master of Business Administration in finance from New York University.

Sallie Mae (NASDAQ: SLM) is the nation’s No. 1 financial services company specializing in education. Celebrating 40 years of making a difference, Sallie Mae continues to turn education dreams into reality for American families, today serving 25 million customers. With products and services that include 529 college savings plans, Upromise rewards, scholarship search and planning tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Copyright Business Wire 2010

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