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Freddie Names Haldeman New CEO

After a four-month-long search process, Freddie Mac ""announced Tuesday"":http://www.freddiemac.com/news/archives/corporate/2009/20090721_haldeman.htmlxeMBSRR that its board of directors named finance industry veteran Charles E. Haldeman, Jr. as the company’s new CEO and has elected him as a member of the board - a move that was widely expected, as ""DSNews.com reported"":http://dsnews.comindex.php/home/news_story/3187 earlier this month.
Haldeman was chairman of Putnam Investment Management, LLC, investment advisor for the Putnam Funds, until June 30, 2009. He served as president and CEO of Putnam Investments from 2003 to 2008, before his role as chairman.
Freddie said Haldeman's employment and board tenure will begin next month, following the release of the company’s second quarter financial results. He will succeed John A. Koskinen, who has been serving as Freddie Mac’s interim CEO since March 2009. Koskinen will resume his previous position as non-executive chairman of the board.
Commenting on Haldeman’s appointment, Koskinen said, ""He has a wealth of experience in finance and an impressive record of successfully leading companies through challenging transformations. His commitment to our mission and his reputation for integrity and the highest professional standards will serve Freddie Mac well as it emerges from this challenging economic environment.""
James B. Lockhart III, director of the ""Federal Housing Finance Agency"":http://www.fhfa.gov/webfiles/14605/FRE%20CEO%20statement%207%2021%2009.pdf (FHFA), Freddie’s regulator, added, ""Throughout his career, Ed has demonstrated the ability to resolve significant regulatory issues and establish strong operational and risk controls, skills that will translate well to the current needs at Freddie Mac.""
Haldeman has more than 35 years of investment and management experience. While at Putnam, he was charged with reorganizing the business and improving policies and compliance following a series of probes into the industry’s business practices. Based on that success, CFA Magazine named him ""One of the Most Influential CFA Institute Members"" in December 2006, citing his personal commitment to fiduciary duty, his work to restore Putnam’s reputation, and his creation of an organizational culture that reinforced trust in the firm.
Haldeman also served as chairman and CEO of Delaware Investments, and as president and COO of United Asset Management Corporation (UAM). He began his career at Cooke & Bieler, Inc., an affiliate of UAM, in 1974, where he held a series of senior executive positions.
He earned an M.B.A. from Harvard Business School, where he was a Baker Scholar, He received his J.D. cum laude from Harvard Law School, and an A.B. summa cum laude from Dartmouth College. He is a Chartered Financial Analyst (CFA), currently serves as chairman of Dartmouth College’s board of trustees, and is a member of the Harvard Business School board of dean’s advisors. He formerly served on the board of governors of the Investment Company Institute.
In a ""statement to the press"":http://www.freddiemac.com/news/archives/corporate/2009/20090721_haldeman.htmlxeMBSRR, Hadelman said, ""Freddie Mac has both the opportunity and responsibility to be a strong and consistent force for the stability and health of both the housing market and the general economy, and I am honored to join the company and to contribute to that fundamental task.""
He added, ""I believe Freddie Mac is a critical part of the solution to our nation’s housing problems, and I look forward to working with the Federal Housing Finance Agency, the administration, the housing industry, and the great people at Freddie Mac to achieve our shared goals of helping to keep families in their homes and aiding the nation’s housing market as it recovers from the current downturn.""

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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