Freddie Mac’s capital market chief, Peter Federico, a 23-year veteran of the GSE, announced that he is leaving the company in mid-May.
At press time a replacement had not yet been chosen. No reason was given for his departure, which was first revealed in a filing with the Securities and Exchange Commission.
GSE sources and advisors close to both Fannie Mae and Freddie Mac say the two are beginning to witness more high level departures as the job market improves for financial services executives.
Federico, who joined Freddie right of college back in 1988, had been named executive vice president of investments and capital markets (and treasurer) in October of last year. In that role he was responsible for managing all of the GSE’s mortgage investment activities.
Freddie Mac, which has been operating under a government conservatorship since the fall of 2008, could release first quarter earnings within a few days.