McLean, Va.-based Freddie Mac appointed President Michael Hutchins to the additional role of interim CEO last month as the company searches for a permanent CEO. Hutchins will also join Freddie Mac’s board of directors.
Hutchins, who has more than 30 years of experience in financial services, was hired by Freddie Mac in 2013 as senior vice president, before being named executive vice president of investments and capital markets. Hutchins was named president of Freddie Mac in 2020, and is a senior operating committee member. He replaced former CEO Michael DeVito, who stepped down in mid-March.
Freddie Mac non-executive Chair Lance Drummond called Hutchins “a proven leader who brings a deep understanding of every aspect of Freddie Mac to the role of interim CEO.
“In addition to his knowledge of Freddie Mac, Mike’s decades of experience in housing and financial services is invaluable as the company navigates a challenging market,” Drummond added.