Freddie Mac announced that CEO Donald H. Layton will retire on July 1 and will be replaced by David M. Brickman, who was appointed President at the government-sponsored enterprise (GSE) in September.
Brickman, who was Executive Vice President and head of Freddie Mac Multifamily before being elevated to President, will also become a member of the Freddie Mac Board of Directors when he takes on the Chief Executive role. Layton has served at the Freddie Mac helm
“The Board engaged in a multi-year succession process to ensure we selected the right leader, and David is an outstanding choice to serve as our next CEO,” said Freddie Mac Board Chairwoman Sara Mathew. “He is an exceptional business leader, having demonstrated great strategic and execution skills as the long-time head of our Multifamily business. He led the process of driving credit risk transfer and attracting private capital to finance multifamily housing while protecting the American taxpayer. More recently, he has also impressed the board with his work as president. David is well respected within the company and the industry and is the best choice to lead Freddie Mac going forward.”