Press Release

CalHFA Board Member Appointments

Eileen Gallagher and Frederick P. White reappointed to continue overseeing CalHFA, joining James Cervantes who was appointed last month

March 3, 2022

SACRAMENTO — The California Housing Finance Agency saw two key members of its Board of Directors, Eileen Gallagher and Frederick P. White, reappointed by Governor Gavin Newsom this week.

They will serve alongside James Cervantes, who was appointed to the CalHFA Board of Directors earlier last month.

Gallagher, who has served on the Board since 2015, has held the position of Managing Director at Stifel's San Francisco Public Finance Office since 2011. She previously served in several roles at Stone and Youngberg from 1998 to 2011, including Managing Director, Director, Vice President and Associate. Gallagher earned a Master of Business Administration degree in Finance and Marketing from the Northwestern University Kellogg School of Management.

"Elieen has been an important presence on the Board, bringing vital public finance and capital markets expertise to the work the Agency is doing," said CalHFA Executive Director Tiena Johnson Hall, who served alongside Gallagher on the Board of Directors for seven years prior to taking on the leadership role in 2021.

Since Gallagher joined the CalHFA Board in 2015, the Agency has financed the creation and preservation of more than 18,700 affordable rental units and helped more than 53,000 California families buy their first home.

A Board member since 2021, White is a Housing Finance Officer for the Los Angeles Office of City Homelessness Initiatives. Previously he was Vice President and Senior Portfolio Manager at State Street Bank from 2017 to 2019, Senior Advisor at the Office of the Los Angeles City Administrative Officer from 2016 to 2017 and held multiple housing-related positions in the Teachers Insurance and Annuity Association of America (TIAA) from 2002 to 2016, including Senior Director, Director and Senior Associate. White earned a Master of Business Administration degree from North Carolina Central University.

"Fred has such a diverse range of housing expertise, including a very valuable local-level perspective," Johnson Hall said. "Since he joined the CalHFA Board last year, Fred has brought a fresh set of eyes that has been extremely helpful as we continually strive to increase our operational efficiency."

Cervantes was appointed by Governor Newsom in February, filling a vacant seat on the CalHFA Board.

Cervantes most recently worked as Managing Director in the Public Finance Department with Stifel from 2011 until his retirement in 2020.

He was previously a Partner and Managing Director with Stone & Youngberg LLC, and began his career as Property Manager and Finance Director at Mission Housing Development Corporation. Cervantes also currently serves as the Chair of the Lafayette General Plan Advisory Committee, a member of the Board of the Tenderloin Neighborhood Development Corporation and a member of Contra Costa County's Measure X Community Advisory Board.

"We are thrilled to welcome Mr. Cervantes to the Board of Directors," Johnson Hall said. "His vast experience with housing finance will be extremely beneficial as we continue to find innovative ways to help more Californians find a place to call home."

The positions require Senate confirmation and compensation is $100 per diem.

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The California Housing Finance Agency was created in 1975 with the goal of helping more Californians find a place to call home. CalHFA is a self-supporting state agency that doesn't rely on taxpayer dollars. For more information on CalHFA programs, and how we are creating progressive financing solutions for affordable housing in California, visit www.calhfa.ca.gov or call toll free at 877.9.CalHFA (877.922.5432).

Contact: Melissa Flores
Phone: 916.326.8092

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