Board of Trustees

Franklin D. Raines - Trustee

Frank Raines grew up in Seattle, Washington.  He attended public schools, graduated from Franklin High School, and graduated magna cum laude from Harvard College in 1971.  He attended Oxford University in England as a Rhodes Scholar and graduated from the Harvard Law School, cum laude, in 1976.  He has received honorary doctorate degrees from Howard University, Lafayette College, Amherst College, the University of Maryland, and the University of Puget Sound.  He is also the recipient of the Harvard Medal.  He has been elected as a Fellow of the American Academy of Arts and Sciences and the Academy of Social Insurance and as a member of the Council on Foreign Relations.

Franklin D. Raines is currently a founder and Vice Chairman of the Board of Revolution Health Group LLC, a new company creating products and services for consumers.  He also serves on the boards of several other start-up companies in health, luxury travel, and financial services.  He is the retired Chairman and CEO of Fannie Mae, the largest non-bank financial services company in the world.  In his six years as Chairman and CEO, Fannie Mae provided over $3.4 trillion dollars of housing financing serving over 30 million low, moderate and middle-income families. In 2003 the company received the Ron Brown Award from the U.S. Department of Commerce for corporate leadership.

Prior to joining Fannie Mae in 1991 Raines was a General Partner of the investment banking firm of Lazard Freres & Co. where he provided financial advice to public and private clients for over eleven years.  He served in the Cabinet of President Bill Clinton from 1996 to1998 as the Director of the Office of Management and Budget.  .  Raines also served in the Administration of President Jimmy Carter as Assistant Director of the White House Domestic Council and Associate Director of the Office of Management and Budget from 1977 to1979.
 
Raines has served in many leadership positions including Chairman of the Board of Overseers of Harvard University and Chairman of the Visiting Committee of the John F. Kennedy School of Government; co-chairman of the Business Roundtable and vice-chairman of the Business Council; member on the board of directors of five Fortune 100 companies and three national philanthropic foundations;  and member on the board of trustees of the National Urban League.  He currently serves on the board of Enterprise Community Partners and the Black Student Fund.

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