Akwaboah Appointed Acting CEO of Fannie Mae, Succeeding Almodovar
Peter Akwaboah has been appointed as the acting CEO of Fannie Mae following the departure of Priscilla Almodovar. The announcement came on Wednesday afternoon from the company, which plays a crucial role in the U.S. housing finance system.
Akwaboah’s Background and Experience
Akwaboah joined Fannie Mae in February 2024, bringing in significant experience from his previous role as Chief Operating Officer of global technology at Morgan Stanley. His expertise makes him a suitable choice for leading the company temporarily while the board searches for a permanent CEO.
Leadership Changes at Fannie Mae
In addition to Akwaboah’s appointment, John Roscoe and Brandon Hamara have been named co-presidents of the enterprise. William Pulte, Chairman of Fannie Mae, expressed confidence in Akwaboah’s leadership abilities. He emphasized the combination of the three experienced leaders will contribute to a more secure and effective Fannie Mae while maintaining its growth as a Fortune 25 company.
- Peter Akwaboah: Acting CEO, former COO at Morgan Stanley.
- John Roscoe: Co-President, previously Chief of Staff at the Federal Housing Finance Agency.
- Brandon Hamara: Co-President, formerly Vice President of Land Acquisition at Tri Point Homes.
Priscilla Almodovar’s Departure
Priscilla Almodovar, who served as CEO and president since September 2022, has left Fannie Mae. The reason for her departure was not disclosed. Almodovar had previously replaced Hugh Frater and had taken over the president role in 2024. She reflected on her tenure as a privilege and expressed gratitude towards the Fannie Mae community for their support.
Future Outlook
Pulte acknowledged Almodovar’s contributions to the company and wished her success in future endeavors. The leadership transition opens a new chapter for Fannie Mae as it strives to continue its mission of aiding American homeowners and renters in achieving their dreams.
This leadership change aims to steer Fannie Mae towards a more robust future, ensuring stability during the transition period.
