Sallie Mae Names Steve Turner Chief Technology and Enablement Officer

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Private student lending are loans made by banks, credit unions, or specialty lenders to help students pay for education when government aid is insufficient. They function like a personal loan or credit line for school and typically have higher, market-driven interest rates and varying repayment terms. Investors pay attention because these loans create revenue and credit risk for lenders and can be bundled into securities, so changes in repayment rates, interest margins, or regulation affect profitability and loan values.

Veteran Technology Executive to Lead Digital Transformation and Data Strategy

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae^® (Nasdaq: SLM), formally SLM Corporation, today announced it has appointed Steve Turner, Chief Technology and Enablement Officer. In this role, Turner will oversee technology architecture and delivery, IT innovation, data, and information, and physical security.

“Joining Sallie Mae is an incredible opportunity to advance a mission that helps students access and complete higher education,” said Turner. “I look forward to leading our technology organization to accelerate innovation and harness data to deliver faster, simpler, and more reliable experiences for the students and families we serve.”

Turner brings more than 25 years of technology leadership experience to Sallie Mae. Most recently, he served as Managing Director and Head of Data, Analytics, Insights, and Marketing Technology for Bank of America, leading all aspects of technology including operations, business delivery, risk, and innovation. Prior to Bank of America, Turner spent more than a decade at Walgreens where he led digital transformation in several roles including Chief Information Officer, and Senior Vice President of Digital Operations.

“Steve’s deep experience managing large-scale, customer-focused platforms makes him the right leader to strengthen our technology foundation, drive innovation across the business, and deepen our relationships with our customers,” said Jon Witter, Chief Executive Officer, Sallie Mae. “I’m excited to have him join our leadership team, and I’m confident he will help us raise the bar and deliver measurable results for our business.”

Turner earned a Bachelor of Science in Computer Science from Chapman University and a Master of Business Administration from the Kellogg School of Management at Northwestern University. He is also a veteran of the U.S. Navy.

For more information visit www.salliemae.com.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial

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Rick Castellano

302.451.2541

Rick.castellano@salliemae.com

Source: Sallie Mae