Freddie Mac has announced the appointment of John Krenitsky as SVP and CCO. The industry veteran with over two decades of industry experience working in the global financial services industry brings extensive, in-depth knowledge in managing compliance programs. Freddie Mac said that he would full transition to the position of CCO effective June 1 following the retirement of current CCO Carol Wambeke.
"John’s sharp legal mind and experience in building and managing enterprise-wide compliance risk programs make him the ideal person to be Freddie Mac’s chief compliance officer as we continue on our transformation journey. In short, he is the right person for the job at the right time for the company,” said Anil Hinduja, EVP and Chief Enterprise Risk Officer at Freddie Mac. “On behalf of all of Freddie Mac, I would like to congratulate Carol Wambeke on her retirement and express my appreciation of her more than 20 years of service to the company. Over the last several years, she has played an integral role in Freddie Mac’s transformation.
Krenitsky joins Freddie Mac from Discover Financial Services, where he managed an enterprise-wide compliance risk program as CCO. Prior to that, he was CCO for BNP Paribas Subsidiaries, including BancWest Corporation and Bank of the West. Krenitsky also spent 13 years working for M&T Bank, first as a Deputy General Counsel and then as CCO.
Prior to joining M&T Bank, Krenitsky was a Commercial Litigation Attorney in Buffalo, New York. He holds a Juris Doctor degree from the State University of New York at Buffalo, Law School and a bachelor’s degree in public policy from Hamilton College. He is a member of the Compliance Advisory Council of the American Bankers Association and member of the American Bar Association, New York State Bar Association, and Erie County Bar Association.