Craig Phillips will join Freddie Mac as the executive vice president of Corporate Strategy and External Affairs, Freddie Mac announced in a release.

In this role, Phillips will work with the chief executive officer, the president and the entire senior leadership team to support the dynamic evolution of the company’s strategy.  He also will oversee the company’s external affairs effort, which includes industry engagement, regulatory and conservatorship affairs and initiatives, corporate communications, marketing and public relations.

Phillips has extensive private and public sector experience, having served in leadership roles at Morgan Stanley, Blackrock and the U.S. Department of Treasury. He joined Freddie Mac on Jan. 14.

“There are few people as knowledgeable and well-respected in housing finance and financial services as Craig Phillips, and we are excited to add him to our team,” Freddie Mac CEO Diana Reid said in the release. “I expect Craig to hit the ground running, working closely with me to develop Freddie Mac’s corporate strategy and leading engagement across a diverse array of stakeholders.

“In short, Craig Phillips will help Freddie Mac better serve its mission of providing liquidity, stability and affordability to the housing market every day and in every corner of the nation,” Reid added.

Most recently, Phillips was managing director and chief operating and growth officer of Grain Management, a private equity firm focused on telecommunications infrastructure. He was counselor to the secretary at the U.S. Department of Treasury between 2017 and 2019, serving in the capacity of Under Secretary for domestic finance.

Between 2008 and 2017, Phillips was a managing director and a member of the Operating Committee of BlackRock, the world’s largest asset manager. There he founded and led the Financial Markets Advisory Group, a global risk consulting group.

Phillips also led the Client Solutions Group, which worked across the Firm’s platform and investor base to create and manage investment solutions for institutional clients including pension funds, insurance companies, endowments and official institutions.

Between 1994 and 2006, he served as a managing director at Morgan Stanley, where he headed its global Securitized Products Group.

“The transformation of Freddie Mac over the last 15 years has been significant, and I am looking forward to joining a strong management team to help support the company’s sustained progress and success,” Phillips said. “I hope to make a strong contribution to Freddie Mac that leaves the company in a better position and strengthens the housing finance system.”