Fannie Mae appointed Sheila Bair to the Board of Directors, Fannie Mae announced in a news release.
Bair served as the chairwoman of the Federal Deposit Insurance Corp., assistant secretary for financial institutions at the Treasury Department, senior vice president for government relations of the New York Stock Exchange and commissioner of the Commodity Futures Trading Commission.
She joins a broadly experienced and diversely skilled board of directors that is focused on the company's continued mission to provide safe, affordable mortgage financing in the United States, Fannie Mae said in the release.
“We are extremely pleased to welcome Sheila to the Fannie Mae Board of Directors,” board Chairman Jonathan Plutzik said in the release. “Her vast experience and proven leadership in some of the world’s most prominent financial, regulatory, and private sector organizations will provide unique and valuable insights to Fannie Mae. We are fortunate for the opportunity to work with her.”
Fannie CEO Hugh Frater highlighted many assets Bair will bring to the position.
“Sheila is another tremendous addition to our exceptional Board of Directors,” Frater said. “Throughout her career she has demonstrated strong banking and financial services prowess, a fierce commitment to affordable lending solutions, and deep business strategy, risk management, and regulatory expertise. She will help guide us as we continue to deliver against our strategic priorities, transform the mortgage experience for our customers and partners, and address our country’s pressing housing needs.”
Bair has been appointed to the Compensation Committee, the Nominating and Corporate Governance Committee and the Risk Policy and Capital Committee of the Board.
She currently serves as a member of the board of directors of Thomson Reuters, Host Hotels & Resorts, Inc., the Industrial and Commercial Bank of China Ltd., and the Paxos Trust Company, LLC and its parent Kabompo Holdings, Ltd.