
Fannie Mae announces management changes
Daily news headlines
WASHINGTON, DC – Fannie Mae has announced senior management changes as part of its capital management and loss reduction plan. The reshuffle comes as speculation intensifies over the possibility of an imminent federal bail-out of Fannie Mae and Freddie Mac, the two US government-sponsored mortgage lenders, which hold over $5 trillion in struggling US home loans.
Fannie announced Peter Niculescu will become chief business officer, David Hisey chief financial officer and Michael Shaw chief risk officer. Niculescu replaces Robert Levin, who will retire after 27 years with the organisation. He will oversee the firm’s business divisions and Fannie Mae’s urgent capital management and credit loss reduction plan.
Shaw will oversee credit, market, counterparty and operational risk, and replaces Enrico Dallavecchia in the role of chief risk officer, who is leaving the firm. Hisey, a previous senior vice-president and controller, replaces Stephen Swad. The circumstances of Swad’s departure are unknown, although he has reportedly left to pursue opportunities in private equity, only a year after joining Fannie in early 2007.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on People
People: More Goldman sackings, Citi promotes for Emea, and more
Latest job news across the industry
Asia moves: senior hires at Societe Generale, Deutsche Bank and more
Latest job news from across the industry
People: Credit Suisse’s FX revamp; Barclays hires co-heads; and more
Latest job changes across the industry
Asia moves: senior hires at Natixis CIB, Citi and more
Latest job news from across the industry
People: LME chair quits, Goldman and BlackRock lay-offs, and more
Latest job changes across the industry
Asia moves: Citi and Deutsche Bank make senior hires, and more
Latest job news across the industry
People moves: Capitolis lay-offs, UBS’s new risk chief, and more
Latest job changes across the industry
Capitolis cuts workforce by 25% as bear market bites
Recent senior hires including James Kibbe and James Reilly are among the departures