Freddie Mac announced the election of Steven W. Kohlhagen, Ph.D., to its board of directors this week.

Kohlhagen brings more than three decades of experience in financial services to the board and is slated to serve on the business and risk committee, as well as the compensation committee.

"Steve is nationally recognized as a leading financial expert with extensive knowledge of mortgage finance and the capital markets," said Christopher S. Lynch, Freddie Mac's non-executive chairman. "He will bring to the board a unique combination of senior executive leadership skills and a deep understanding of economics, modeling and complex financial instruments.”

Kohlhagen previously held executive positions at First Union National Bank, where he served as managing director for the fixed-income division. Prior to that he held leadership positions at Stamford Capital Group, Bankers Trust Corp. and Lehman Brothers Inc.