Brendsel's Return Engagement. Freddie Mac's stockholders felt quite comfortable with CEO Leland Brendsel and 12 other members of Freddie's board of directors, and reelected them to the 18-member board at the GSE's fifth annual stockholder's meeting in McLean, Va., May 11. Voters also agreed to keep Brendsel as chairman of the board, ratified the appointment of Freddie's independent public accountants, and voted down a proposal related to executive compensation. Stockholders couldn't vote on the board's remaining five positions because those are reserved for appointment by the president of the United States. The 12 other re-elected board members include: John C. Etling, president and CEO, General Reinsurance Corp.; David W. Glenn, president and COO, Freddie Mac; George D. Gould, vice chairman of Klingenstein Fields & Co.; Barbara C. Jordan, holder of the Lyndon B. Johnson Centennial Chair in National Policy at the University of Texas at Austin; Henry Kaufman, president Henry Kaufan & Co. Inc.; John B. McCoy, chairman and CEO, Banc One Corp.; James F. Montgomery, chairman and CEO, Great Western Financial Corp.; Russell F. Palmer, chairman and CEO, The Palmer Group; Ronald F. Poe, chairman and CEO, Dormand and Wilson Inc.; Donald J. Schuenke, retired chairman, Northwest Mutual Life Insurance Co.; Christina Seix, chairman and CEO, Seix Investment Advisors Inc.; and William J. Turner, chairman and CEO, Turner & Partners Inc.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
3h ago -
The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.
4h ago -
The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.
5h ago -
Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
6h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
7h ago -
When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
8h ago