Federal Home Loan Bank of Chicago chief to step down

The Federal Home Loan Bank of Chicago said President and Chief Executive Michael A. Ericson will conclude his tenure on December 31, 2026, with Chief Financial Officer Virxhini Gjonzeneli serving as interim chief from January 1, 2027.

Why it matters: The Chicago bank is one of the largest Federal Home Loan Banks, a core wholesale funder for US mortgage lenders, and the filing sets out an orderly, board-run succession with an internal interim already named.

Data as of Federal Home Loan Bank of Chicago Form 8-K filed November 2, 2026 (accession 0001331451-26-000207), read in full in this run; compensation terms for the departure and the interim appointment are still being finalised and remain subject to Federal Housing Finance Agency review. Developing item.

The Federal Home Loan Bank of Chicago said on Monday that its board and President and Chief Executive Officer Michael A. Ericson have agreed he will conclude his tenure with the bank on December 31, 2026, and that the board is starting a process to identify a permanent successor. To cover the transition, the board named Virxhini Gjonzeneli, an executive vice president who has served as chief financial officer and group head for financial accounting and markets since January 2023, as interim president and chief executive effective January 1, 2027.

The bank said compensation relating to Ericson’s departure and Gjonzeneli’s interim service is being finalised and will be subject to review and non-objection by the Federal Housing Finance Agency, with any material arrangements to be disclosed once available.

Federal Home Loan Bank of Chicago chief to step down

Sources