Freddie Elects New Director

Jeffrey M. Peek, chairman and chief executive officer of CIT Group Inc., has been elected to Freddie Mac's board of directors, effective Jan. 1.A 30-year veteran of the financial services industry, Mr. Peek has served as CEO of CIT, a commercial and consumer finance company, since July 2004 and as chairman since January 2005. He was previously president and chief operating officer of the company. Before that, he served as vice chairman of Credit Suisse First Boston LLC, and he spent nearly 20 years, from 1983 to 2002, at Merrill Lynch. Mr. Peek will serve on the Finance and Capital Deployment Committee and the Mission and Sourcing Committee of Freddie Mac's board. He will fill the director seat now held by Joan Donoghue, who is resigning effective Dec. 31. Ms. Donoghue is counselor to the chairman of Freddie Mac, and previously served as its general counsel.