New CEO for Freddie Mac
- July 22, 2009
The board of directors of Freddie Mac named Charles E. “Ed” Haldeman Jr. today as the mortgage giant’s new CEO. Haldeman, formerly chairman of Putnam Investment Management — the investment advisor for the Putnam Funds — will begin in August, following the release of second quarter results.
He is the third person in the last year to assume the CEO role. Haldeman succeeds John A. Koskinen, who has been serving as Freddie Mac’s interim CEO since March, when David Moffet resigned.
Haldeman has more than 35 years of investment and management experience. Before assuming the chairman’s role at Putnam Investment Management in 2008, he served as president and CEO of Putnam Investments. In that post, he reorganized the business and improved compliance policies following a series of probes into the investment industry’s business practices.
Koskinen said in a statement that Haldeman has “an impressive record of successfully leading companies through challenging transformations.” Haldeman characterized Freddie Mac as a critical player in finding solutions to the nation’s housing problems, and said he looked forward to working with federal agencies and the administration to achieve the goals of “helping to keep families in their homes and aiding the nation’s housing market as it recovers from the current downturn.”