Robert B. Zoellick, executive vice president in charge of lobbying, public affairs, and affordable housing at Fannie Mae, is leaving the government-sponsored enterprise before yearend.

"Bob has devoted much of his career to foreign policy and international affairs, and he intends to pursue his deep interest in those areas," Fannie Mae spokesman David Jeffers said Tuesday.

Mr. Zoellick plans to teach and write on foreign policy, Mr. Jeffers said. "He's looking at possibilities. It'll certainly include something in academia."

Fannie Mae officials have not decided who will take over Mr. Zoellick's duties, but sources said some responsibilities will be picked up by Jamie S. Gorelick. The former deputy attorney general was named vice chairwoman by Fannie Mae in May, replacing Franklin D. Raines, who became Office of Management and Budget director last September. Ms. Gorelick does not start her new post until September.

Before joining Fannie Mae in 1993, Mr. Zoellick spent several years in the Reagan and Bush administrations, serving as a top aide to Treasury Secretary James Baker from 1985 to 1988, and then as counselor and under secretary for economic and agricultural affairs at the State Department from 1989 to 1992. He was briefly White House deputy chief of staff in 1992.

Mr. Zoellick has used his close ties to Republicans in Congress, such as Speaker of the House Newt Gingrich, R-Ga., to defend Fannie Mae from new taxes.

This is his second stint at Fannie Mae, known formally as the Federal National Mortgage Association. From 1983 to 1985, Mr. Zoellick was vice president and assistant to then chairman, David O. Maxwell.

"Bob expressed to us several months ago his desire to leave sometime this year," Mr. Jeffers said. "He has done an outstanding job. The board of directors and senior managers have been extremely pleased with his service."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.