Freddie Mac Announces Diana Reid as CEO

(Image courtesy of Freddie Mac)

Freddie Mac announced that Diana Reid will serve as CEO, effective immediately.

Reid will also serve as a member of Freddie Mac’s Board of Directors.

President Michael Hutchins has been serving as Interim CEO–he will retain his president role.

Reid brings more than 40 years of experience in the banking, real estate, capital markets and affordable housing experience, including nearly 12 years leading PNC Financial Services Gorup Inc.’s real estate business division.

She also founded Beekman Advisors, and has worked for firms such as Credit Suisse First Boston in Mortgage Trading, Debt Capital Markets and Financial Institutions Advisory.

“I am delighted that Freddie Mac has selected Diana Reid as its next CEO. Diana brings with her decades of experience in mortgage banking and capital markets, as well as a proven track record of executive leadership. I look forward to working with her to build upon Freddie Mac’s mission to promote affordable housing throughout the country in a safe and sound manner,” said FHFA Director Sandra L. Thompson. “I am also grateful to Mike Hutchins for his leadership during this interim period as Freddie Mac completed its search for a permanent CEO. I look forward to working with the Freddie Mac team to ensure a smooth transition.”