Freddie Mac on Wednesday announced CEO Charles E. Haldeman, former chairman of Putnam Investment Management and president of Putnam Funds, will leave the mortgage finance firm.
Mr. Haldeman will stay until a new CEO is found, according to a statement.
“Ed Haldeman has brought strong leadership to Freddie Mac,” Edward DeMarco, acting director of the Federal Housing Finance Agency, which supervises Freddie Mac, said in the statement.
The changes portend a larger shakeup at Freddie Mac, according to four people with direct knowledge of Freddie Mac's plans.
“As an executive, you want to know where you're heading, and there is only uncertainty now,” said Chris Gamaitoni, a former Fannie Mae financial analyst at Compass Point Research and Trading. “This is a further indication that the Obama administration needs to give direction sooner rather than later on how these companies should be reformed.”
Freddie Mac and its sister firm, Fannie Mae, were bailed out by taxpayers during the credit crisis and have drawn more than $170 billion in assistance. Freddie Mac hasn't posted an annual profit since 2006 and has clashed with the nation's biggest banks over its demand for billions of dollars in refunds for defective mortgages bought during the housing bubble.
Mr. Haldeman joined Freddie Mac in July 2009. As well as being chairman of Putnam Investment Management, he was president and CEO of Putnam Investments.
