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Freddie CEO to retire in 2019

Freddie Mac CEO Donald Layton has informed the government-sponsored enterprise's board that he intends to retire in the second half of 2019.

Freddie Mac has identified David Brickman as an internal candidate for the role. Brickman currently serves as executive vice president and head of the GSE's multifamily division. Also, Freddie Mac's board has established a search committee and will retain an executive search company to look for external candidates.

In addition, Freddie Mac named Brickman president, effective immediately. Deborah Jenkins, senior vice president of multifamily underwriting and credit, will be promoted to head the multifamily business as executive vice president, effective Jan. 1, 2019.

The board commenced implementation of the CEO succession plan at its regularly scheduled September meeting this week, in consultation with the Federal Housing Finance Agency, in its capacity as the GSE's conservator.