Freddie Mac (NYSE:FRE) said Tuesday it appointed Bruce Witherell its chief operating officer effective Sept. 14. In that position, Witherell, 49, will oversee the integration of the lender’s three business lines – Single Family Credit Guarantee, Multifamily Sourcing and Investments and Capital Markets – as well as its Operations and Technology division. Witherell will report to CEO Charles E. Haldeman, Jr.
“To accomplish Freddie Mac’s mission and business goals, we must make sure that the company is running at the highest levels of efficiency and operational excellence,” Haldeman said in a statement. “I have asked Bruce – an experienced executive…to join Freddie Mac’s strong management team and help us execute our many functions and focus on the right objectives. Bruce has an impressive track record of success and I am thrilled to have him join our team.”
Previously, Witherell was managing director at Morgan Stanley (NYSE:MS) where he was responsible for the residential mortgage origination and servicing platforms, mortgage operations in the United States, England, Italy, Japan and Russia, and global trading.
Before joining Morgan in 2006, Witherell spent 15 years at Lehman Brothers Holdings (OTC:LEHMQ), in a variety of senior leadership roles. From 2003 to 2006, he was chief executive officer of Lehman Brothers Bank and chief executive officer of Aurora Loan Services, which had been acquired by Lehman.
Witherell is a graduate of Carnegie Mellon University.