In March, Fannie Mae got a permanent CEO—Hugh R. Frater, who had been serving as interim CEO since Timothy Mayoupolos stepped down from the top post last October. Frater, a longtime mortgage professional, has been serving on the GSE’s board since 2016.
“Hugh’s deep understanding of the housing and the financial services industries, broad experience and strong leadership skills make him an ideal choice to lead Fannie Mae,” Chairman Jonathan Plutzik said in a press release announcing the appointment.
Frater said the leadership team would continue to focus on Fannie Mae’s strategic priorities to “transform the mortgage experience for our customers and partners.”
“The Fannie Mae of today is customer focused, innovative and committed to leading a housing finance system that is safe, sound and sustainable for taxpayers and creditworthy borrowers of all income levels,” he said.
Frater previously led Berkadia Commercial Mortgage LLC, a Berkshire Hathaway and Jefferies Financial Group company based in New York City. He served Berkadia’s CEO from 2010 to April 2014, and as its chairman from April 2014 to December 2015. Earlier in his career, Frater was an executive vice president at PNC Financial Services based in Pittsburgh, where he led the real estate division, and was a founding partner and managing director of BlackRock Inc. based in New York City.
Mark A. Calabria, director of the Federal Housing Finance Agency which has served as regulator and conservator of Fannie Mae and Freddie Mac since 2008, recently called upon Congress to end the government-sponsored enterprise (GSE) conservatorships “in the near future,” while finding a way to “transition to a reformed housing finance system.”
“I encourage Congress to pursue legislation to move our country toward a more sustainable housing finance system,” Calabria wrote in a June 11 letter accompanying his first annual report to Congress. “These reforms should reduce the risk to the taxpayer, promote private sector competition and support sustainable homeownership.”
Hugh Frater is No. 21 on Chief Executive and RHR International’s CEO1000 Tracker, a ranking of the top 1,000 public/private companies
Headquarters: Washington D.C.
Age: 63
Education:B.A. Dartmouth College, M.B.A. from Columbia University Graduate School of Business
First joined company: 2018
Prior to joining Fannie Mae: Berkadia Commercial Mortgage
Named CEO: 2018
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
