Freddie Mac has hired Steven W. Abrahams to be director of portfolio management and credit risk in its single-family securitization group.

He will be responsible for monitoring credit risk and hedging opportunities within the portfolio management department.

Mr. Abrahams had been a principal at Morgan Stanley Dean Witter & Co., where he formerly was a prepayment analyst and residential strategist.

He was among the 60 traders, salespeople, and researchers laid off from the global bond operations of Morgan Stanley in mid-November as investors became increasingly wary of bonds amid uncertain global markets.

Mr. Abrahams, who begins his new job Tuesday, is to report to Henry Cassidy, senior vice president of portfolio management.

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