Kenny Smith, a former Deloitte Consulting vice chairman is the new CEO of Freddie Mac, the company announced. He starts his new position on Dec. 17.
Michael Hutchins, who occupied the seat twice on an interim basis, will remain as Freddie Mac's president.
Hutchins had
"Kenny Smith's background and decades of experience in financial services will be an asset to Freddie Mac as we continue to meet the needs of homeowners, renters and the industry in 2026 and beyond," Hutchins said in a press release.
Smith worked at Deloitte for 27 years, including holding the vice chairman position for five years. While at Deloitte, he was global lead client service partner for Wells Fargo from 2008 to 2019, the Freddie Mac press release said.
Smith will also serve on Freddie Mac's board. Bill Pulte, the director of the Federal Housing Finance Agency, also is the chairman at both Freddie Mac and Fannie Mae.
"I am honored and excited to join the team at Freddie Mac," said Smith. "Freddie Mac plays a vital role in the nation's housing finance system, and I look forward to working with our talented team to expand access to homeownership and rental housing across the country."
At Fannie Mae, Peter Akwaboah, the chief operating officer, has been acting CEO since October
Almodovar is joining Fifth Third's board effective Jan. 7, replacing Thomas "Hal" Harvey, who is retiring.
"Priscilla brings exceptional leadership experience and a record of collaboration," said Tim Spence, chairman, CEO and president of Fifth Third, in a press release. "Her strategic vision and proven ability to navigate complex markets will be invaluable as we continue to deliver innovative solutions for our customers and communities."
