Bruce Witherell Named Freddie Mac COO
August 18, 2009 by Mark Ellis
Filed under Business
On Tuesday, Freddie Mac announced that the company will have a new COO as of September 14th. Bruce M. Witherell will be the new COO and will report to Charles E. Haldeman, Jr. — the CEO of Freddie Mac.
When you think of Freddie Mac, you probably think of federal bailout money. The mortgage company has received billions upon billions of dollars in bailout capital from the feds. Many experts believe that it may never be possible for Freddie Mac to pay back the government.
Image: Zuma Press
With that type of pressure, Witherell won’t have an easy job. However, Haldeman thinks he is up for the task.
Said Haldeman: “To accomplish Freddie Mac’s mission and business goals, we must make sure that the company is running at the highest levels of efficiency and operational excellence. I have asked Bruce – an experienced executive with demonstrated expertise in mortgages and capital markets, superb leadership skills and management experience – to join Freddie Mac’s strong management team and help us execute our many functions and focus on the right objectives.”
Freddie Mac was founded in 1970 as a government sponsored enterprise. It is estimated that one in six homebuyers got assistance from Freddie Mac.
