Freddie Mac CEO Donald Layton is set to retire next year.
Layton, who’s been the chief executive since 2012, will retire in the second half of next year, Commercial Observer reported.
“Don has played an indispensable role in transforming Freddie Mac and moving the housing finance system in a better direction,” Freddie Mac chairman Christopher Lynch said in a statement.
Freddie Mac, which did nearly $75 billion in loan purchases and guarantees last year, has hired an executive-search firm to look outside the organization for a new CEO.
Freddie Mac also promoted David Brickman, former head of its multifamily business, to agency president. He’s considered the top internal candidate to succeed Layton. [CO] – Rich Bockmann