\n<\/p>\n
Alberto Musalem, a former executive at the Federal Reserve Bank of New York, has been elected to the Freddie Mac<\/strong> board of directors, the government-controlled company said Wednesday. <\/p>\n Musalem is chief executive officer, co-chief investment officer, and a founder of Evince Asset Management LP<\/strong>, a company developing portfolio technologies for investors and managing a quantitative global fund.<\/p>\n \u201c[Musalem] brings significant finance, capital markets, economics, and public policy expertise to our Board,\u201d said Sara Mathew, non-executive chair of Freddie Mac\u2019s board of directors. \u201cWe welcome him as a highly qualified new member whose decades of experience position him to play an important role on our risk committee and our compensation and human capital committee.\u201d<\/p>\n Before founding Evince Asset Management, Musalem served as executive vice president at the Federal Reserve Bank of New York<\/strong> from 2014 to 2016, as head of the Integrated Policy Analysis Group<\/strong> and of the Emerging Markets and International Affairs Group<\/strong>. Prior to that, he held various positions at Tudor Investment Corporation<\/strong> from 2000 to 2013, including managing director, partner and global head of research. He previously served as an economist at the International Monetary Fund<\/strong> from 1996 to 2000. <\/p>\n In other personnel moves, Michael DeVito, who spent more than two decades at Wells Fargo<\/strong> before retiring last year<\/a>, assumed the role of Freddie Mac CEO on June 1. DeVito was head of home lending at Wells Fargo<\/a> at the time he stepped down from the depository bank, and served as the head of mortgage production and ran mortgage servicing operations.<\/p>\n In February<\/a>, Freddie Mac, with an equity market capitalization around $7.2 billion, appointed Pamela Perry as vice president of single-family equitable housing, and Amanda Nunnink as vice president of equity in multifamily housing.<\/p>\n Its other directors are Mark Bloom, Kathleen Casey, Lance Drummond, Aleem Gillani, Mark Grier, Christopher Herbert, Grace Huebscher, Allan Merrill, Saiyid Naqvi.<\/p>\n Earlier<\/a> this month, the Federal Housing Finance Agency<\/strong> (FHFA) issued a request for input<\/a> to determine if the current compensation of Freddie Mac and Fannie Mae executives is not \u201creasonable\u201d or \u201ccomparable.\u201d In a statement, FHFA Director Mark Calabria said the information the FHFA gathers will help to ensure transparent and appropriate executive compensation<\/a> policies. <\/p>\n What happens next though is unclear. Following the Supreme Court’s opinion that the FHFA’s structure was unconstitutional<\/a>, Joe Biden’s administration moved to remove Calabria<\/a> from his position. Hours later, he resigned. It’s not immediately clear who will replace him. <\/p>\n The post Freddie Mac names Musalem to board of directors<\/a> appeared first on HousingWire<\/a>.<\/p>\n