Longtime Freddie Mac CEO Donald H. Layton will retire effective July 1, the GSE has announced. Freddie Mac’s board of directors has appointed David M. Brickman, currently the GSE’s president, to succeed Layton as CEO.
Freddie Mac announced in September that Layton would be retiring in the second half of this year. The GSE said that after Layton announced his intent to retire, it conducted a search for his successor that included both Brickman and external candidates before approving Brickman as the next CEO. The Federal Housing Finance Agency, Freddie Mac’s government conservator, has approved the decision.
“Don has been a remarkable leader during a period of tremendous change at Freddie Mac, and on behalf of the board and the company, I would like to thank him for his outstanding leadership over the last seven years,” said Sara Mathew, chair of Freddie Mac’s board of directors. “The board engaged in a multi-year succession process to ensure we selected the right leader, and David is an outstanding choice to serve as our next CEO. He is an exceptional business leader, having demonstrated great strategic and execution skills as the longtime head of our multifamily business. he led the process of driving credit-risk transfer and attracting private capital to finance multifamily housing while protecting the American taxpayer. More recently, he has also impressed the board with his work as president. David is well-respected within the company and the industry, and is the best choice to lead Freddie Mac going forward.”
“David is a proven business builder, having taken Freddie Mac’s multifamily business to the preeminent position in that market,” Layton said. “In all his work, he demonstrates a passion for the business, the mission and the people of Freddie Mac. Everything I have seen during his tenure as president has convinced me that David is the right choice to serve as the next CEO and take Freddie Mac forward.”