Continuity and New Expertise: Freddie Mac Navigates Leadership Transition
Freddie Mac Extends Interim CEO's Tenure
Freddie Mac has confirmed an extension of Michael T. Hutchins's role as interim Chief Executive Officer. His leadership will continue either until a permanent CEO is designated or through December 19, 2025, whichever event occurs first. This decision ensures ongoing stability at the top executive level during a period of transition for the company.
Appointment of New General Counsel and Corporate Secretary
In a related announcement, Matthew D. Abrusci has been named general counsel and corporate secretary for Freddie Mac, with his appointment effective immediately. Abrusci brings extensive legal experience from his previous roles at major financial institutions, including Mitsubishi UFJ Financial Group (MUFG) Americas, the Royal Bank of Canada, Credit Suisse Securities, and Merrill Lynch & Co. He will integrate into the current leadership team under Hutchins.
Context of Leadership Shifts and Organizational Changes
Hutchins initially took on the interim CEO responsibilities in March, following the departure of Diana Reid. Reid, who had joined in September 2024, was slated to succeed Michael DeVito after his retirement. The extension of Hutchins's interim period was formally documented in a Securities and Exchange Commission (SEC) filing, highlighting his agreement to continue in this dual capacity as president and interim CEO. This executive continuity is particularly notable given the significant leadership upheavals observed across government-sponsored enterprises (GSEs) during the Trump administration. These changes have been part of a broader effort to prepare these entities for a potential stock offering and eventual exit from conservatorship, including previous dismissals of key executives at Freddie Mac and its regulator, the Federal Housing Finance Agency (FHFA), and shifts in internal policies.