MCLEAN, VA--(Marketwired - Apr 15, 2015) - Freddie Mac (OTCQB: FMCC) today announced that Anil Hinduja has been named executive vice president and chief enterprise risk officer. He will report to Donald H. Layton, chief executive officer, and will serve on the company's senior operating committee.
Hinduja replaces Mark A. DeLong and Jorge A. Reis, who have served as interim co-chief enterprise risk officers since January of this year. Delong and Reis will continue in their ongoing roles at Freddie Mac -- DeLong as senior vice president, enterprise operational risk management and Reis as senior vice president, enterprise chief risk officer for the Investments & Capital Markets business.
Hinduja, 51, brings broad risk management experience to Freddie Mac where he will be responsible for providing the overall leadership and direction for the company's Enterprise Risk Management division, and for leading an integrated risk management framework for all aspects of risk across the entire company.
"Anil is a seasoned risk management executive who brings to Freddie Mac not only decades of deep consumer credit expertise, especially in mortgages, but comprehensive enterprise risk management expertise as well," Layton said. "By bringing Anil on board, Freddie Mac is further strengthening its management team as we focus on one of our top priorities -- achieving best-in-class risk management for the benefit of the U.S. taxpayer."
Hinduja's decades-long career has been mostly spent at Citigroup. Over the years he has acquired in-depth experience managing risk in global consumer businesses, especially mortgages, both as a credit risk manager and as the head of a mortgage business. He will join Freddie Mac from Barclays PLC, where he served in increasingly broader risk management roles beginning in 2009. He currently holds the position of chief risk officer for Barclays Africa Group Limited, which is majority owned by Barclays Bank PLC with the remaining shares being publicly-traded, overseeing the entire range of enterprise risks across all of the organization's business lines. Prior to assuming that role in 2013, Hinduja was group credit director for retail credit risk after serving as chief risk officer for Barclays' retail bank in the U.K.
Prior to joining Barclays, Hinduja spent 19 years at Citigroup in diverse roles with increasing responsibility across finance, operations, sales and distribution, business and risk management in global consumer businesses. In risk, he was director for global consumer credit risk and then chief risk officer for the consumer lending group, where he was responsible for managing risk in the mortgage, auto and student loan businesses. His tenure at Citigroup culminated in his term as president and CEO of Citi Home Equity.
Hinduja holds a Bachelor of Commerce degree from Sydenham College in India and an M.B.A. in Accounting from the University of Cincinnati.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com. Twitter: @FreddieMac
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