A 35-year industry veteran, Haldeman is no stranger to business disruption and dislocation. He was named president and CEO of Putnam Investments in 2003--charged with reorganizing the fund in the wake of the market timing scandal. He also spearheaded the sale of Putnam Investments to Power Financial Corp. in January 2007. He has also held executive positions with Delaware Investments and United Asset Management Corp.
To state the obvious, Haldeman is going to need every minute of that banked experience to steer Freddie Mac. The GSE, along with Fannie Mae was placed in receivership close to a year ago. The two have been registering substantial losses every earnings quarter. Freddie Mac was further hampered when it had to absorb the shock of the suicide of its CFO earlier this year. After that event, Moffett assisted the agency in an advisory role to get its financials out on time.
Despite these difficulties Freddie Mac has been forging ahead with its support of multifamily finance. Most notably, in May it launched a new $1-billion debt program, called K Certificates, to add more liquidity to the system. Freddie Mac was not able to return a call to GlobeSt.com in time for publication.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
