Weidong Shi
INVESTING IN THE JOURNEY
Weidong is a senior director in the Multifamily Capital Markets group, leading a team in Securitization. When he isn’t working, he is kept busy by his two daughters and their rigorous sports schedules and birthday parties. His daughters aren’t the only athletes in the family — Weidong is also a member of an intermural tennis club that has an extensive wait list for new members. He also enjoys traveling and is fascinated by the exploration of diverse cultures and the vastness of the world, a passion that continues to shape his journey.
Upon completion of his undergrad in his hometown of Shanghai, Weidong sought a new adventure for his master’s degree and entered Purdue University. Lafayette, Indiana — known for its production of soybeans, poultry and popcorn — is a stark contrast to his hometown. Fortunately, the presence of a few friends from China offered him a sense of familiarity amidst the novelty of his new, temporary home during his studies.
During a university career fair, Weidong seized an opportunity to join Capital One as a business analyst, working on credit card product strategy and valuations. He then joined a group in Sallie Mae that later spun off into Navient. While with Sallie Mae, he led product strategy and later focused on student loan securitization. After navigating the complexities of student loans, Weidong found new challenges at Freddie Mac where he could leverage his accumulated expertise.
Since joining Freddie Mac in 2016, Weidong has embarked on an exciting and transformative journey. He has led various new capital markets initiatives and played pivotal roles in enhancing existing security offerings, including new Multifamily credit risk transfer (CRT) programs (MSCRSM and MCIPSM) and leading the exponential growth of the Multi PC® program. When he first started, Multi PC issuance was $500 million. Fast forward to 2023, Multi PCs accounted for $15 billion in security issuance.
Let’s dive into Weidong's thoughts on how diversity has shaped his role at Freddie Mac.
What does diversity mean to you?
A: Diversity to me means all the experiences, perspectives and backgrounds that individuals bring to the table. Personally, I’ve encountered significant cultural disparities between America and my home country, leading to moments of cultural shock. Diversity plays a vital role in shaping how I approach problem-solving and leadership in my current role. My acquired knowledge from my unique background enables me to tackle tasks from different angles. At Freddie Mac, there is a culture of encouragement that enables individuals to voice their perspectives. I always encourage my team to be engaged in meetings, which often prompts questions that I would not have thought of.
Ten years from now, what would you like to say you accomplished here?
A: I hope that I’ll be able to reflect on the milestones I already accomplished among what I continue to do in the future. While I am eager and ready for new challenges, often the most significant opportunities unexpectedly present themselves along the way, just like how the CRT initiative popped up. In a decade, I also envision proudly furthering our efforts in streamlining processes, automation and market data insight study.
May is Asian American Pacific Islander (AAPI) Month. Is there an Asian American figure, historical or personal, whom you admire?
A: My wife and I share a passion for travel and exploration of different cultures. I also find myself particularly drawn to so many architectural marvels that I encounter. One Chinese-American architect I admire is I.M. Pei. What intrigues me about Pei is his ability to create designs from sleek lines and geometric forms into a harmonious blend of modern and traditional masterpieces. From the iconic Louvre Pyramid in Paris to the Bank of China Tower in Hong Kong, he has left indelible marks on skylines around the world.
Where is your favorite place you've traveled to?
A: Selecting a favorite destination is tough, given the many places I’ve explored in the U.S and China, not to mention those still on my bucket list. If I had to choose some memorable exotic experiences, two distinct destinations stand out for me.
Bora Bora, the remote island paradise in the South Pacific, boasts a breathtaking scenery with its volcanic centerpiece and vibrant coral reefs surrounding it. It blends mountains, sea water, beach and genuine locals into a stunning experience. Meanwhile, Rome captivated me with its rich history and culture. Seeing iconic landmarks like the Colosseum and the Vatican connected me with the history I’ve read about while growing up.
Weidong with his family at the Valley of Fire State Park in Nevada.
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