Freddie Mac Names New Top Executive

By: Associated Press Email
By: Associated Press Email

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Tuesday, July 21, 2009

Freddie Mac says Charles Haldeman Jr. will be the company's top executive, effective next month.

Earlier this month, Haldeman, 60, stepped down as chairman of mutual fund giant Putnam Investment Management, where he had previously served as chief executive. He replaces John Koskinen, who has been serving as Freddie Mac's interim CEO since the March resignation of David Moffett.

The government seized control of Freddie Mac last September, and the mortgage finance company has had to tap more than $50 billion in government aid to cope with mounting loan defaults.

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