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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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
9h ago -
The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
11h ago -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
11h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
11h ago -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28