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Fannie Mae names GC as its new CEO

Timothy Mayopoulos assumes the position later this month

Fannie Mae, the government-controlled mortgage giant, announced yesterday that it will promote its current GC to the company’s top spot. Timothy Mayopoulos replaces Fannie Mae’s current CEO, Michael J. Williams, who announced in January that he would be leaving the post.

The government came to the aid of Fannie Mae (as well as its sister company, Freddie Mac) in 2008, when the company saw enormous losses on risky mortgages that threatened to bring it down. Mayopolous will be Fannie Mae’s third CEO since the government rescued the struggling company.  


Cathleen Flahardy

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