Freddie Mac Names New CEO

David Brickman, the GSE's president, will succeed retiring CEO Donald Layton on July 1 and join the board of directors. Last September, the agency announced it would conduct a search that included Brickman.
Donald Layton, CEO, Freddie Mac 

Freddie Mac has named President David Brickman as its new CEO, following the retirement of Donald Layton, effective July 1, 2019. Brickman will also become a member of the board of directors.

David is a proven business leader, having taken Freddie Mac’s multifamily business to the pre-eminent position in that market,” said Layton, in a prepared statement. “In all his work, he demonstrates a passion for the business, the mission and the people of Freddie Mac. 

When Layton’s intention to retire was announced in September, the board signaled it would launch a search for a successor, and would be including Brickman, then Freddie Mac president, and external candidates in that search. Once Brickman was chosen, the Federal Housing Finance Agency, Freddie Mac’s conservator, approved the decision.

The board engaged in a multi-year succession process to ensure we selected the right leader, and David is an outstanding choice to serve as our next CEO. He is an exceptional business leader, having demonstrated great strategic and execution skills as the long-time head of our multifamily business,” said board of directors Chair Sara Mathew, in a prepared statement. “He led the process of driving credit risk transfer and attracting private capital to finance multifamily housing, while protecting the American taxpayer. More recently, he has also impressed the board with his work as president. David is well respected within the company and the industry, and is the best choice to lead Freddie Mac going forward.

Image courtesy of Freddie Mac