Today, The Members of the New York City Housing Development Corporation approved the promotion of two officers, Mr. Richard Froehlich to Executive Vice President and Ms. Joan Tally as Senior Vice President; and appointed Mathew Wambua, as Executive Vice President for Real Estate and External Affairs.

Richard Froehlich, has been appointed the Corporation’s Executive Vice President for Capital Markets for the Corporation. Mr. Froehlich has worked for the Corporation since 2003 when he was appointed as Senior Vice President and its General Counsel. After his promotion, Mr. Froehlich will continue to be General Counsel. Mr. Jahr stated that “Apart from his legal expertise, Rich Froehlich has demonstrated great leadership and an understanding of the many challenges that the Corporation must address. He has the problem solving skills and technical expertise to lead the Corporation’s efforts to meet its financial goals.” Mr. Froehlich graduated with an A.B. from Columbia College and received his J.D. from Columbia University School of Law.

Joan Tally has been appointed as Senior Vice President for Development. Ms. Tally first joined HDC in 2001 as a project manager and quickly rose to Assistant Vice President and Vice President before being named Acting Senior Vice President in October of 2007. Mr. Jahr stated that “Joan has demonstrated strong leadership and poise in addressing the changing real estate finance needs of HDC’s partners.” She is a graduate of Hunter College and has a Masters in Urban Planning from there as well. Before joining HDC she worked as a project manager at Neighborhood Housing Services and as a planner in the Manhattan Borough President’s Office.

Mr. Wambua recently resigned as a Member of the Corporation and as Senior Policy Advisor for the New York City Deputy Mayor of Economic Development. Prior to joining the Mayor’s Office, Mr. Wambua was Vice President for Special Projects at the New York City Economic Development Corporation. Mr. Jahr stated “Mathew Wambua brings to HDC an excellent understanding of the Corporation and its programs as well as its important role in meeting the ambitious goals of the Mayor’s New Marketplace Plan.” He has a B.A. from the University of California at Berkeley and a Masters in Public Policy from Harvard University’s John F. Kennedy School of Government.