Fannie Creates 6 New Finance Posts

Fannie Mae, which likely will not report any earnings this year, has created six new positions in its finance division and appointed nine new officers.Two of the new appointees -- R. Scott Blackley (senior vice president of accounting policy) and Nicholas Radesca (vice president of financial reporting) -- replace Fannie Mae executives who have been demoted but are now serving in full-time advisory roles at the company. The new positions are part of a major shake-up in Fannie's finance division. The controller's office is headed by vice president and controller David Hisey, who joined Fannie in January. Mr. Hisey oversees four major reporting functions: financial controls and systems, financial reporting, accounting operations, and valuation and price verification. Fannie director H. Patrick Swygert said the new positions and appointments represent the first phase of a "significant reorganization" at the government-sponsored enterprise.