Freddie Mac appointed mortgage industry veteran Bruce M. Witherell as chief operating officer effective Sept. 14.
In in his new position, Witherell will oversee and ensure effective integration across the firm's three business lines – single family credit guarantee, multifamily sourcing and investments and capital markets – as well as its operations and technology division. Witherell will report to CEO Charles E. Haldeman, Jr.
Previously, Witherell was managing director and global co-head of the residential mortgage business at Morgan Stanley where he was responsible for the residential mortgage origination and servicing platforms, mortgage operations in the U.S., England, Italy, Japan and Russia, and global trading.
Before joining Morgan Stanley in 2006, Witherell spent 15 years at Lehman Brothers Holdings, in a variety of senior leadership roles. From 2003 to 2006, he was chief executive officer of Lehman Brothers Bank and chief executive officer of Aurora Loan Services, which had been acquired by Lehman. Witherell was chief administrative officer of Lehman's wealth and asset management and fixed-income divisions, also serving on the executive committees of both units.
He was previously co-chief operating officer of the corporate advisory division; global head, transaction management and documentation; head of derivative and finance; and head, residential and commercial contract finance.
Before Lehman Brothers, Witherell held management positions at the First Boston Corp. and Household Finance Corp.