Peter Akwaboah Appointed as Fannie Mae’s Acting CEO Enhancing Leadership Expertise

Fannie Mae has made significant changes to its leadership structure by appointing Peter Akwaboah as the acting Chief Executive Officer (CEO). Akwaboah replaces Priscilla Almodovar, who has officially stepped down from her role as President and CEO. Alongside him, John Roscoe and Brandon Hamara have been designated as co-presidents of the organization.

Leadership Changes at Fannie Mae

Peter Akwaboah’s appointment reflects Fannie Mae’s commitment to enhancing leadership expertise. His extensive background, including over 30 years in financial services, positions him well for his responsibilities. As the former Chief Operating Officer (COO) of Global Technology at Morgan Stanley, Akwaboah’s experience in operations and technology is invaluable.

Experience and Qualifications

• Former Positions:
  • Managing Director at Morgan Stanley
  • Asia Pacific COO at RBS
  • Leadership roles at Deutsche Bank, KPMG, and IBM
• Education:
  • Bachelor of Engineering with honors from the University of Birmingham, England
  • Multiple degrees in engineering and civil engineering

William J. Pulte, chairman of Fannie Mae’s board, emphasized Akwaboah’s fit for the role. He noted that having Akwaboah, Roscoe, and Hamara at the top of the company will enhance safety and soundness while fostering growth.

The Role of Co-Presidents

John Roscoe and Brandon Hamara’s appointments as co-presidents further strengthen the leadership team. Both bring valuable expertise that will drive Fannie Mae’s core business initiatives.

John Roscoe’s Background

• Former Executive Vice President of operations and public relations at Fannie Mae
• Extensive advisory experience in private sector and government
• Former Chief of Staff at U.S. Federal Housing Finance Agency (FHFA)
• Served in the Trump administration as Special Assistant to the President

Brandon Hamara’s Contributions

Brandon Hamara also has a strong track record within the organization, and both new co-presidents aim to lead Fannie Mae into a new era of operational excellence. Their combined experience across various sectors will be crucial for achieving the firm’s strategic goals.

Reflection on Leadership Transition

Outgoing CEO Priscilla Almodovar expressed gratitude for her time at Fannie Mae, highlighting the organization’s accomplishments during her tenure. Her leadership has been pivotal in making Fannie Mae a stronger institution that supports American homeowners and renters.

As Fannie Mae embarks on this new chapter with Akwaboah at the helm as acting CEO, alongside Roscoe and Hamara, the focus remains on continuing to build a robust leadership framework to enhance safety, soundness, and profitability.