Fannie Mae announces leadership changes

Fannie Mae announced a series of leadership changes following decisions by two veteran executives that they will soon retire from the company. President David C. Benson announced that he will retire in early to mid-2024 after 21 years of serving in a wide range of positions, including Interim CEO, CFO, Executive Vice President – Capital Markets, and Treasurer. In addition, Chief Administrative Officer Jeffery Hayward announced his intention to retire as of December 31, after 36 years with Fannie Mae during which he also led the company’s Multifamily business and its National Servicing Organization. Upon Benson’s departure, CEO Priscilla Almodovar, who joined the company last year, will assume the additional title of President. In this expanded capacity, she will directly manage the company’s two business units: Single-Family, led by Executive Vice President Malloy Evans, and Multifamily, led by Executive Vice President Michele Evans.Current General Counsel Terry Theologides will succeed Hayward as Chief Administrative Officer. The company also announced that Danielle McCoy will become the new General Counsel & Corporate Secretary. McCoy currently serves as Senior Vice President, Deputy General Counsel & Deputy Corporate Secretary. Terry Theologides has been General Counsel & Corporate Secretary for more than four years and previously served in senior roles at CoreLogic, Inc. and Morgan Stanley’s mortgage businesses. As Chief Administrative Officer he will be responsible for a broad range of Fannie Mae’s operations.