On October 6, 2018, Fannie Mae appointed Hugh R. Frater as interim chief executive officer of the company. Mr. Frater has been a member of Fannie Mae’s board of directors since January 2016.
Mr. Frater serves as non-executive chairman of the Board of VEREIT, Inc. and as a director of ABR Reinsurance Capital Holdings Ltd. He previously led Berkadia Commercial Mortgage LLC (“Berkadia”), a national commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. He served as chairman of Berkadia from April 2014 to December 2015 and he served as chief executive officer of Berkadia from 2010 to April 2014. Earlier in his career, Mr. Frater was an executive vice president at PNC Financial Services, where he led the real estate division, and he was a founding partner and managing director of BlackRock, Inc.
Mr. Frater has a bachelor of arts in English from Dartmouth College, and a master of business administration in finance from the Columbia University Graduate School of Business, where he serves on the board of overseers.