WASHINGTON: Sallie Mae is bringing on board Tom Joyce as its new VP of corporate communications.
Joyce spent the past year and a half as a partner at Minneapolis-based Carmichael Lynch Spong (CLS), where he headed the corporate practice. Prior to that, he was VP of public affairs of American Express' financial services division.
"Sallie Mae is the leader in student lending, financing, and servicing - issues that have never been hotter thanks to today's interest rates," said Joyce. "It's also a hot area in financial services right now because all of the banks are getting into it, so it's an interesting time."
Joyce will start his new position the last week of June.
He replaces James Boyle, who has held the job for the past two years. Boyle declined comment on where he is headed, saying only that he is currently in negotiations.
Founded in 1972 as a government-sponsored enterprise, Sallie Mae is now the leading source of student lending in the US. In 1997, it began a process of privatization that is set to
conclude in 2006.