Federal National Mortgage Association Fannie Mae
Officers & Directors
Kenneth J. Bacon, 56, has been Executive Vice President—Multifamily (formerly,
Housing and Community Development) since July 2005 and was interim head of Housing
and Community Development from January 2005 to July 2005. He was Senior Vice President—Multifamily
Lending and Investment from May 2000 to January 2005, and Senior Vice President—American
Communities Fund from October 1999 to May 2000. From August 1998 to October 1999
he was Senior Vice President of the Community Development Capital Corporation.
He was Senior Vice President of Fannie Mae’s Northeastern Regional Office
in Philadelphia from May 1993 to August 1998. Mr. Bacon was a director of the
Fannie Mae Foundation from January 1995 until it was dissolved in June 2009. He
was Vice Chairman of the Fannie Mae Foundation from January 2005 to September
2008 and was Chairman from September 2008 to June 2009. Mr. Bacon is a director
of Comcast Corporation and the Corporation for Supportive Housing. He is a member
of the Executive Leadership Council.
David C. Benson, 51, has been Executive Vice President—Capital Markets since
April 2009 and has also served as Treasurer since June 2010. Mr. Benson previously
served as Fannie Mae’s Executive Vice President—Capital Markets and
Treasury from August 2008 to April 2009, as Fannie Mae’s Senior Vice President
and Treasurer from March 2006 to August 2008, and as Fannie Mae’s Vice President
and Assistant Treasurer from June 2002 to February 2006. Prior to joining Fannie
Mae in 2002, Mr. Benson was Managing Director in the fixed income division of
Merrill Lynch & Co. From 1988 through 2002, he served in several capacities
at Merrill Lynch in the areas of risk management, trading, debt syndication and
e-commerce based in New York and London.
Terence W. Edwards, 55, has been Executive Vice President—Credit Portfolio
Management since September 2009, when he joined Fannie Mae. Prior to joining Fannie
Mae, Mr. Edwards served as the President and Chief Executive Officer of PHH Corporation,
a leading outsource provider of mortgage and fleet management services, from January
2005 to June 2009. Mr. Edwards was also a member of the Board of Directors of
PHH Corporation from January 2005 through June 2009. Prior to PHH Corporation’s
spin-off from Cendant Corporation (now known as Avis Budget Group, Inc.) in January
2005, Mr. Edwards served as President and Chief Executive Officer of Cendant Mortgage
Corporation (now known as PHH Mortgage Corporation), a subsidiary of Cendant Corporation,
beginning in February 1996. Mr. Edwards had previously served in other executive
roles at PHH Corporation, which he joined in 1980.
David C. Hisey, 50, has been Executive Vice President and Deputy Chief Financial
Officer since November 2008 and also assumed the responsibilities of Chief Financial
Officer in December 2010. Mr. Hisey previously served as Executive Vice President
and Chief Financial Officer from August to November 2008, as Senior Vice President
and Controller from February 2005 to August 2008 and as Senior Vice President,
Financial Controls and Operations from January to February 2005. Prior to joining
Fannie Mae, Mr. Hisey was Corporate Vice President of Financial Services Consulting,
Managing Director and practice leader of the Lending and Leasing Group of BearingPoint,
Inc., a management consulting and systems integration company. Prior to joining
BearingPoint in 2000, Mr. Hisey was an audit partner with KPMG, LLP. Mr. Hisey
serves as our principal accounting officer and is a certified public accountant.
Linda K. Knight, 60, has served as the Executive Vice President leading Fannie
Mae’s operating plan since September 2010. Since January 2011, Ms. Knight
has also led the Financial Planning & Analysis business unit and the Strategy,
Execution & Transformation business unit. Ms. Knight served as Executive Vice
President—Mortgage-Backed Securities and Pricing from June 2010 to September
2010, and she served as Executive Vice President and Treasurer from April 2009
to June 2010. Ms. Knight previously served as Executive Vice President—Enterprise
Operations & Securities from November 2008 to April 2009. Ms. Knight was responsible
for securities operations from August 2008 to September 2010. She was responsible
for enterprise operations from April 2007 to April 2009, except for a period from
August 2008 to September 2008. Ms. Knight served under the title Executive Vice
President—Securities from August to November 2008 and as Executive Vice
President—Enterprise Operations from April 2007 until August 2008. Previously,
Ms. Knight served as Executive Vice President—Capital Markets from March
2006 to April 2007. Before that, she served as Senior Vice President and Treasurer
from February 1993 to March 2006, and Vice President and Assistant Treasurer from
November 1986 to February 1993. Ms. Knight held the position of Director, Treasurer’s
Office from November 1984 to November 1986. Ms. Knight joined Fannie Mae in August
1982 as a senior market analyst.
Timothy J. Mayopoulos, 51, has been Executive Vice President, Chief Administrative
Officer, General Counsel and Corporate Secretary since September 2010. Mr. Mayopoulos
was Executive Vice President, General Counsel and Corporate Secretary from April
2009 to September 2010. Before joining Fannie Mae, Mr. Mayopoulos was Executive
Vice President and General Counsel of Bank of America Corporation from January
2004 to December 2008. He was Managing Director and General Counsel, Americas
of Deutsche Bank AG’s Corporate and Investment Bank from January 2002 to
January 2004. He was Managing Director and Senior Deputy General Counsel, Americas
of Credit Suisse First Boston from November 2000 to May 2001, and Managing Director
and Associate General Counsel of Donaldson, Lufkin & Jenrette, Inc. from May
1996 to November 2000. Mr. Mayopoulos was previously in private law practice at
Davis Polk & Wardwell and served in the Office of the Independent Counsel
during the Whitewater investigation.
Karen R. Pallotta, 47, has been Executive Vice President—Single-Family Mortgage
Business since June 2009. Ms. Pallotta served as Senior Vice President—Product
Acquisition Strategy and Support from September 2005 to May 2009. She previously
served as Vice President—Marketing and Lender Strategies from November 2001
to September 2005. Ms. Pallotta held the positions of Director—Marketing
from December 1999 to November 2001 and Director—Transactions and Account
Management from July 1997 to December 1999. From July 1990, when she joined Fannie
Mae, to July 1997, Ms. Pallotta held various analyst, manager and specialist positions
with Fannie Mae.
Kenneth J. Phelan, 51, has been Executive Vice President—Chief Risk Officer,
from April 2009 through February 2011. Prior to joining Fannie Mae, Mr. Phelan
served as Chief Risk Officer of Wachovia Corporation, a financial holding company
and bank holding company, from October 2008 to January 2009. Prior to Wachovia,
Mr. Phelan served as Head of Risk Management Services at JPMorgan Chase &
Co., a financial holding company, from August 2004 to September 2008. He also
served as Head of Risk Strategy Development for Bank One Corporation, which was
acquired by JPMorgan Chase & Co. in 2004, from September 2001 to August 2004.
Michael A. Shaw, 63, has been Executive Vice President and Chief Credit Officer
since April 2009. Mr. Shaw previously served as Executive Vice President and Enterprise
Risk Officer from November 2008 to April 2009, and as Executive Vice President
and Chief Risk Officer from August 2008 to November 2008. Prior to that time,
Mr. Shaw served as Senior Vice President—Credit Risk Oversight beginning
in April 2006, when he joined Fannie Mae. Prior to that time, Mr. Shaw was employed
at JPMorgan Chase & Co., where he served as Senior Credit Executive from 2004
to 2006, as Senior Risk Executive, Policy, Reporting, Analytics and Finance during
2004 and as Senior Credit Executive—Consumer, Chase Financial Services from
2003 to 2004. Prior to joining JP Morgan, Mr. Shaw held senior risk positions
at GE Capital and a subsidiary from 1997 to 2003. Mr. Shaw previously served in
several senior risk positions at Citigroup Inc., which he joined in 1972.
Edward G. Watson, 49, has been Executive Vice President—Operations and Technology,
since April 2009, when he joined Fannie Mae. Prior to joining Fannie Mae, Mr.
Watson held a variety of positions with Citigroup Inc., a global diversified financial
services holding company. From April 2004 to April 2008, he was Global Head, Capital
Markets Operations and Institutional Clients Group Business Services. Before that,
he served in a series of senior finance positions, including as Chief Financial
Officer of Citigroup International, the European Investment Bank, and of Global
Investment Management. Upon joining Citigroup in 1994, Mr. Watson led the effort
to build the infrastructure for a start-up interest rate and equity over-the-counter
derivatives business, which he ran until 1998.
Federal National Mortgage Association Fannie Mae currently has 7600 employees.
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