DOW JONES NEWSWIRES Fannie Mae (FNM) made its second chief financial officer appointment of the year as the struggling mortgage company's chief executive continues to install his own management team.
The company hired David M. Johnson from Hartford Financial Services Group Inc. (HIG), where he had also been CFO.
The appointment is the latest executive change at Fannie Mae, which has been on life support since it was left the holding the bag as mortgages soured after the housing bubble burst.
The government-sponsored enterprise had named David C. Hisey to the post in late August as part of a shuffle designed to get more experienced people in vital posts. Federal regulators installed Herbert M. Allison Jr. as president and chief executive shortly after the appointment of Hisey. With Allison's pick of Johnson as CFO, Hisey will remain as deputy chief financial officer.
"David Hisey has done a terrific job leading our financial team through Fannie Mae's transition to conservatorship and during our most recent financial filing," Allison said.
Executives have been leaving after regulators took over the company and rival Freddie Mac (FRE). In September, Peter Niculescu left the company less than a month after being promoted to chief business officer in the wake of the government takeover.
Fannie shares closed up 38% to 47 cents Tuesday. In recent late trading shares are up to 54 cents.
-By Jay Miller, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com
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(END) Dow Jones Newswires
November 25, 2008 17:40 ET (22:40 GMT)

Publié le 25 novembre 2008 Copyright © 2008 Dowjones