Freddie Mac Taps Ally Exec for CFO

Ally CFO James G. Mackey will soon be departing to take an executive position at ""Freddie Mac"":http://www.freddiemac.com.

Mackey will join Freddie Mac the week of November 11 to fill the role of EVP and CFO following the departure of Ross J. Kari, who ""announced last year"":http://www.themreport.com/articles/freddie-mac-cfo-to-retire-in-2013-2012-12-19 his intent to retire in the second half of 2013.

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Mackey joined Ally in 2009. In his tenure there, he led a team of 1,000 finance staff with responsibility for the oversight of the company's financial analysis, controls and reporting, accounting, business planning, and investor relations.

Prior to that, Mackey served as CFO for the Corporate Investments, Corporate Treasury, and Private Equity divisions at Bank of America. He began his career in 1992 at Pricewaterhouse Coopers LLP, where he served as a manager in the Financial Institutions Practice Group.

""The Board of Directors and I are very pleased that Jim is joining Freddie Mac as CFO at a crucial time in the company's life,"" said Freddie Mac CEO Donald Layton. ""Jim brings an impressive track record of success in helping a company deal with significant change, including a situation somewhat similar to the conservatorship under which we now operate. This will prove extremely valuable to Freddie Mac as we work to succeed both while in conservatorship and in the future.""