Freddie Mac has named Charles "Ed" Haldeman Jr., a former mutual fund executive, its new chief executive office, effective this August.
About a month ago his name leaked out in relation to the CEO job and was considered a done deal but needed the approval of Freddie's regulator, the Federal Housing Finance Agency. FHFA signed off on the nomination this week.
Mr. Haldeman, 60, recently stepped down as chairman of Putnam Investment Management after a seven-year term.
He succeeds John Koskinen who had been serving as interim CEO since March. Freddie Mac, which continues to lose money, has been operating under a government conservatorship since September.
It's expected to release second quarter earnings some time in August.