Freddie Mac’s Board of Directors has selected Kenny M. Smith, a seasoned financial services leader, as the company’s chief executive officer. He also will serve as a member of the company’s Board of Directors. The GSE also announced that Michael Hutchins, who has served as interim CEO of Freddie Mac, will continue in his role as president.
Smith brings nearly 40 years of experience providing strategy, operational, risk management, and governance counsel to a diverse array of financial services companies and institutions. Smith spent 27 years at Deloitte Consulting LLP in numerous positions, including five years as vice chairman, U.S. financial services industry leader. While at Deloitte, he also served as global lead client service partner for Wells Fargo & Company from 2008 to 2019, advising management on a wide variety of company matters.
“Kenny Smith's background and decades of experience in financial services will be an asset to Freddie Mac as we continue to meet the needs of homeowners, renters, and the industry in 2026 and beyond.” said Hutchins.
As financial services industry leader, Smith oversaw Deloitte’s financial services sectors, including banking and capital markets, real estate, insurance, and investment management. He also served as senior industry advisory partner for numerous clients.
"I am honored and excited to join the team at Freddie Mac," said Smith. "Freddie Mac plays a vital role in the nation's housing finance system, and I look forward to working with our talented team to expand access to homeownership and rental housing across the country."
Upon shedding the interim CEO title with the addition of Smith, Hutchins has worked in the financial services industry for more than 30 years. Most recently, he was co-founder and CEO of PrinceRidge. Prior to founding PrinceRidge, he was with UBS from 1996–2007, holding a variety of positions, including the global head of fixed income for the rates and currencies group. Prior to UBS, Hutchins worked at Salomon Brothers from 1986–1996, and held a number of management positions, including co-head of fixed income capital markets.
