Fannie Mae appoints new CEO
Hugh Frater has been appointed as CEO at Fannie Mae, a provider of liquidity to the U.S. housing market. The appointment is effective March 26.
As CEO, Frater will set the overall enterprise vision and strategic direction of the company. In addition to his role as CEO, Frater remains on the board of directors. Frater previously served as interim CEO.
“Following a six-month nationwide search of qualified candidates, I am pleased to announce Hugh Frater as Fannie Mae CEO. Hugh's deep understanding of the housing and the financial services industries, broad experience, and strong leadership skills make him an ideal choice to lead Fannie Mae,” said Jonathan Plutzik, chair of Fannie Mae’s board of directors. “Hugh’s contributions as interim CEO over the last several months demonstrate his commitment to strengthening the company and delivering value to our customers and partners. This appointment also provides continuity in Fannie Mae’s leadership team as we