Fannie Mae unveiled a number of leadership changes Wednesday.
Peter Niculescu, the former head of executive markets, was named chief business officer. David Hisey, the former controller, was named chief financial officer. Michael Shaw, the former senior vice president for credit risk oversight, was named chief risk officer.
The government-sponsored enterprise said Robert Levin, the previous chief business officer, will retire early next year. Stephen Swad, the previous CFO, will pursue an opportunity in private equity, and Enrico Dallavecchia, the previous chief risk officer, will "pursue other opportunities in finance and risk management."
"As we move through the bottom of this cycle, maintaining capital, managing credit, and driving revenues are the priorities — and we have to organize and staff accordingly," chief executive Daniel Mudd said in a press release.
Stephen Ashley, Fannie's chairman, said the board "is firmly committed to Dan Mudd, the management restructuring, and the strategic objectives around capital and credit he set forth" this month.
