Diana Reid Named CEO of Freddie Mac
MCLEAN, Va. — Freddie Mac (OTCQB: FMCC) has appointed Diana Reid as its chief executive officer (CEO), a meaningful leadership change for an organization central to the nation’s housing finance system. The move places a deeply experienced executive at the helm of a company that supports liquidity, stability, and affordability in housing. Reid brings more than four decades of work across real estate, banking, capital markets, and affordable housing—experience that meets the moment and the mission.
A Leader Forged by Real-World Tests
Before stepping into the role at Freddie Mac, Diana Reid held senior leadership positions at PNC Financial Services Group. There, she led the real estate division through the pressures of the financial crisis, balancing risk and growth amid uncertainty. Her stewardship helped the business weather disruption and prepare for long-term progress—proof of a leader who can make sound decisions when conditions are tough and the stakes are high.
Experience That Moves Markets
Reid also founded Beekman Advisors, where she advised leaders in real estate finance and supported major mergers and acquisitions. Earlier in her career, she spent nearly twenty years at the former Credit Suisse First Boston, sharpening her skills in Mortgage Trading and Debt Capital Markets—disciplines closely tied to Freddie Mac’s daily work and core responsibilities. That combination of strategic, advisory, and hands-on market experience is rare—and relevant.
Board Signals Confidence in the Path Ahead
Lance Drummond, the non-executive chair of Freddie Mac’s Board of Directors, voiced strong support for Reid’s appointment and the direction it sets. Drummond stated, "Diana’s proven track record and vast experience in housing finance, real estate, and capital markets make her an excellent choice to further Freddie Mac’s mission-driven work. I have the utmost confidence that she is the right person to take Freddie Mac into the future.” His message was clear: the mission comes first, and the board expects continuity with momentum.
Keeping Housing Finance Open to More People
Reid has expressed enthusiasm about leading Freddie Mac and the opportunity to advance its nationwide role. She plans to work closely with the Board and colleagues across the company to strengthen its impact, focusing on what matters most: liquidity when markets tighten, stability through cycles, and affordability for households trying to buy or rent a home.
Safety, Soundness, and Service
Looking forward, Reid’s emphasis is straightforward—safety and soundness, paired with service to communities across the country. Her perspective is informed by a range of board roles, including at Welltower, Inc. (NYSE: WELL) and others, and an academic foundation that includes a Bachelor of Science from California State University and an MBA from the Darden School of Business at the University of Virginia. It’s a background built for measured growth and steady hands.
Continuity Through Transition
The Board also thanked Michael Hutchins, who served as interim CEO during the transition. His leadership helped maintain organizational focus and stability at a pivotal time. Hutchins will continue to serve as president, supporting Reid’s priorities and helping ensure a smooth handoff so the work continues without pause.
About Freddie Mac
Freddie Mac’s mission is to expand access to homeownership and housing across the United States. Since 1970, the company has worked to keep the housing market liquid and steady so that families can find financing in good times and hard ones. By promoting liquidity, stability, and affordability, Freddie Mac helps make home possible for millions—across regions, cycles, and communities.
Frequently Asked Questions
Who is Diana Reid?
Diana Reid is the new CEO of Freddie Mac. She brings more than 40 years of experience spanning banking, real estate, capital markets, and affordable housing.
What roles has Diana Reid held before Freddie Mac?
She led the real estate division at PNC Financial Services, founded Beekman Advisors, and spent nearly two decades at the former Credit Suisse First Boston in Mortgage Trading and Debt Capital Markets.
What is Freddie Mac’s mission?
Freddie Mac aims to make home possible by supporting liquidity, stability, affordability, and equity in the housing market so families can access financing across economic cycles.
Why does her appointment matter now?
Reid’s history guiding teams through market stress and complex transactions aligns with Freddie Mac’s mission and the need for steady leadership in housing finance.
What is Michael Hutchins’s role going forward?
Michael Hutchins, who served as interim CEO, continues as president. He’ll help ensure continuity and support the company’s priorities under Reid’s leadership.
