Employment

Fannie and Freddie Hiring

Senior and midlevel executives flee company.

Who knew big financial companies were hiring? The New York Times reports “both [Fannie Mae and Freddie Mac] are suffering from an exodus of senior and midlevel managers. The companies have been unable to replace executives who have either been pushed aside as part of last year’s government takeover, or who sought refuge at less stigmatized companies offering better pay and a more predictable future.” Freddie Mac is hiring a chief executive, a chief operation officer, and a chief financial officer. Fannie Mae is hiring a general counsel, chief risk officer, and chief technology officer. Frustration, more lucrative opportunities elsewhere, and uncertainty over Freddie’s and Fannie’s futures as public companies have contributed to the flight.