Freddie Controller Bolts for Morgan

Freddie Mac controller Edmond Sannini, who is working on a project to re-engineer the mortgage giant's accounting systems, is leaving the company to take a position at Morgan Stanley, MortgageWire has learned.Mr. Sannini, who reports to chief financial officer Marty Baumann, is one of six controllers working for the company, a Freddie Mac spokesman said. The spokesman stressed that his departure will not affect the re-engineering project. Freddie Mac, which is still recovering from a $5 billion earnings restatement/accounting scandal, has yet to report earnings for 2003 but hopes to do so by midyear. The company has not yet given guidance on when it will report any results for this year. Before joining Freddie, Mr. Sannini worked as managing director and chief operating officer of J.P. Morgan Chase's global finance group. His official title at Freddie is senior vice president, corporate controller.