The Financial Times reports:
Freddie Mac has hired Bruce Witherell, former co-head of Morgan Stanley’s residential mortgage business, as its chief operating officer.
There's more:
Mr Witherell, together with David Spector, his European co-head, ran the residential mortgage operations of Morgan Stanley from 2006 until early 2008, when the investment bank completed a company-wide restructuring of its mortgage businesses. Before Morgan Stanley, Mr Witherell had spent 15 years at Lehman Brothers in a variety of roles.
Freddie Mac sure knows how to pick them! 15 years with bankrupt Lehman. No word yet on whether, former
Freddie Mac board member, Rahm Emanuel approved of this appointment.
