Fannie Mae introduces new COO

He has held important roles at a host of top companies

Fannie Mae introduces new COO

Fannie Mae has announced the appointment of Peter Akwaboah as executive vice president and chief operating officer (COO), effective May 20, 2024.

Akwaboah, in his new role, will assume oversight of key areas, including the chief information office, enterprise operations, business resiliency, and enterprise workplace and security functions. In addition, Akwaboah will join Fannie Mae’s management committee and report directly to chief executive officer (CEO) Priscilla Almodovar.

Almodovar expressed confidence in Akwaboah’s appointment, stating: “Peter’s many years of experience and unique combination of technology and operations expertise will add to our deep leadership bench, and his wealth of experience and industry knowledge will bring great value to the company.

“We look forward to the talent and experience he’ll bring to our technology and operations as we continue to respond to the needs of the market, carefully balancing innovation, risk management, and our commitment to our housing mission.”

Having nearly three decades of experience in the financial services industry, Akwaboah currently serves as managing director and chief operating officer for technology, as well as the head of innovation at Morgan Stanley. At Morgan Stanley, his responsibilities include spearheading the firm’s technology strategy to drive innovation, effectiveness, and resilience.

Akwaboah’s professional journey includes a decade-long tenure at the Royal Bank of Scotland, where he held the position of Asia-Pacific chief operating officer for operations, technology, and corporate services. Prior to joining Morgan Stanley in 2015, he held leadership positions in operations and technology at Deutsche Bank, KPMG, and IBM.

Outside of his professional commitments, Akwaboah serves on the boards of the Foundation of Orthopedics and Complex Spine and the Museum of American Finance.

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