Fannie Mae announced the realignment of its organisational structure with the company’s three main lines of business - single-family mortgage guaranty, capital markets, and housing and community development - reporting directly to Herbert Allison, president and chief executive.
Allison said: "the company's organisation will be flatter, with clear lines of authority and strong checks and balances, and a closer link between our businesses and top management.”
Simultaneously, the company announced the resignations of chief business officer, Peter Niculescu; executive vice president and general counsel, Beth Wilkinson; executive vice president and chief information officer, Rahul Merchant; and senior vice president for government and industry relations, Duane Duncan.
No announcement has yet been made on their successors.
The week on Risk.net, August 19-25, 2016Receive this by email