Freddie Unveils Fourth CEO in a Year

Freddie Mac ( FRE) selected mutual fund bigwig Charles Haldeman as CEO on Tuesday, the fourth person to hold that title in less than a year.

Haldeman is known for a long history with Putnam Investment Management, a Boston-based mutual-fund firm with a 70-year history and over $100 billion under management. He served as the company's chairman up until the end of June, and had been president and CEO of Putnam Investments before that.

Freddie expects Haldeman to begin his role in August after the mortgage financing giant reports second-quarter results. He will replace John Koskinen, who has served as interim CEO after replacing David Moffett in March. Moffett, a former executive at US Bancorp ( USB) had left the firm after butting heads with regulators.

"I look forward to working with the Federal Housing Finance Agency, the administration, the housing industry and the great people at Freddie Mac to achieve our shared goals," Haldeman said in a statement.

Moffett had replaced Richard Syron as head of Freddie Mac last September when the firm and its sister company, Fannie Mae ( FNM), were placed into government conservatorship and had management overhauls.

Koskinen, who will resume his former role as non-executive chairman, said that Haldeman has "a wealth of experience in finance and an impressive record of successfully leading companies through challenging transformations."

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