Items Tagged with 'interim CEO'


  • Freddie Posts $768m Profit After Accounting Gains

    Mortgage giant Freddie Mac [stock FRE][/stock] late Friday reported a net income of $768m for Q209, compared with a $9.9bn net loss in the previous quarter. The return to green kept the government-sponsored enterprise from having to draw down more Treasury Department funds through its preferred stock purchase agreement.
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  • Four Months Later, Freddie Fills CEO Post

    Mortgage giant Freddie Mac [stock FRE][/stock] named finance industry veteran Charles Haldeman Jr. as CEO and board of directors member more than four months after its former CEO, David Moffett, resigned. Freddie had placed John Koskinen into an interim CEO role in March after Moffett's resignation, but Koskinen now returns to position as chairman of the board as Haldeman takes the reins.
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  • Freddie's Moffett Returns Temporarily

    Former Freddie Mac [stock FRE][/stock] CEO David Moffett is temporarily returning to the mortgage giant as a consultant to the company's interim CEO, John Koskinen. As consultant, Moffett will assist and advise Koskinen on Freddie's finance division.
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  • Wachovia Taps Steel as CEO; Warns on Huge Q2 Loan Loss Provision

    Wachovia Corp. [stock WB][/stock] said late Wednesday that it had named Robert Steel its new CEO, president and member of the board of directors -- a move that has met with mixed reaction from analysts thus far. Steel was until very recently the under secretary for domestic finance at the U.S. Treasury, and a confidant for Treasury chief Henry Paulson. Both men are alums of Goldman Sachs Group [stock GS][/stock].
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  • Shake-Up at Accredited in Wake of Bear Res Acquisition

    Lone Star Funds is shaking things up in its mortgage business after its acquisition of Bear Stearns Residential Mortgage Corporation late last week; Friday, the private equity group announced that Accredited Home Lenders, Inc. CEO Jim Moran had stepped down and would be replaced by former Bear Res CEO Jeff Walton. Moran had served as interim CEO since February of this year.
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  • Wachovia's Thompson Forced Out by Board

    The board of directors at Wachovia Corp. [stock WB][/stock] forced CEO Ken Thompson to retire, the company said on Monday, a move that comes on the heels of an unexpected $393 million first quarter loss and what sources close to the banks said was "discontent" among a number of board members over Thompson's ill-fated orchestration of option ARM mortgage specialist Golden West Financial last year.
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