Financial services veteran brings over 30 years of finance, real estate and community development expertise and a strong commitment to affordable housing
WASHINGTON, September 29, 2022 /PRNewswire-HISPANIC PR WIRE/ — Fannie Mae (OTCQB: FNMA) announced today that it has appointed Priscilla Almodovar as Chief Executive Officer (CEO) and member of the Board of Directors, with effect December 5, 2022. Almodovar will succeed David C. Bensonwho has served as interim CEO and board member since May 2022. After his arrival, Benson will continue in his role as chairman.
Almodovar brings over 30 years of experience in finance, real estate and community development in a number of institutions and organizations. Since 2019, she has served as President and CEO of Enterprise Community Partners, a national organization focused on increasing the supply of affordable housing, promoting racial equity, and supporting residents and communities.
“On behalf of the Board of Directors, we are delighted to welcome Priscilla Almodovar as the next CEO,” said Michael J. Heid, Chairman of the Board of Fannie Mae. “Priscilla’s extensive experience in large, complex businesses and her commitment to affordable housing make her an ideal choice to further Fannie Mae’s mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America. I would also like to express the deep gratitude of the Board of Directors to David Benson for his invaluable service as interim CEO since May. We are fortunate to have a leader of Dave’s character, skills and commitment to the business and we will benefit from his continued leadership as Chairman, as a key member of the Management Committee and a key partner and advisor to the board of directors. »
Prior to her role as President and CEO of Enterprise Community Partners, Almodovar worked for nearly a decade at JPMorgan Chase and led two of the company’s national real estate businesses; most recently as Managing Director, Co-Head of Real Estate Banking, where she served national and regional real estate developers, investors, landlords and investment funds. Earlier in her career, she served as President and CEO of New York State Housing Finance Agency, New York State Mortgage Agency and Affordable Housing Corporation. She began her career at White & Case LLP, where she was appointed as an equity partner.
“It is an honor to join Fannie Mae and lead the company as it fulfills its vital role in the housing finance market and strives to ensure fair and affordable housing is available to people in communities. across the country,” said Priscilla Almodovar. “I look forward to working with the Board of Directors, management and my new colleagues at Fannie Mae to continue this important work, which has benefited so many over the company’s more than 80-year history. .”
Almodovar is a member of the board of directors of Realty Income (NYSE: O). She is often featured in the media and has been named one of Fortune’s “50 Most Powerful Latinas” and Hispanic Business’s “100 Most Powerful Hispanics”. She received her bachelor’s degree from Hofstra University and his Juris Doctor of Colombia University Law School.
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