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Freddie Mac director set to resign

Linda Bammann will resign from Freddie Mac’s board of directors, effective July 31, to pursue other business interests. She joined the enterprise’s board of directors in 2008 and was most recently re-elected by written consent of the Federal Housing Finance Agency.

As a veteran finance executive with extensive risk management experience, Bammann served as the chair of the board’s Business and Risk Committee as well as a member of its Compensation Committee.

"Linda has been a thoughtful and highly effective leader on Freddie Mac's board of directors during an extremely challenging time for the company," said Freddie Mac Chairman Christopher Lynch.

He added, "She joined the board following conservatorship, and her tremendous risk expertise and knowledge of the financial markets have been invaluable to us all. I am enormously grateful to her for her service and wish her continued success in her future endeavors."

Previously, Bammann was executive vice president, deputy chief risk officer for JPMorgan Chase (JPM).

Prior to that, she held several positions with Bank One Corporation, including executive vice president and chief risk management officer.

"My time on Freddie Mac's board of directors has been both productive and rewarding," Bammann said. "It has been a privilege to be a part of the important work of Freddie Mac, particularly during such a critical time for the housing market as well as the economy in general."

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