A former executive at Pittsburgh’s largest bank has been named interim CEO of Fannie Mae.
Hugh Frater’s appointment is effective Oct. 16. He succeeds Timothy Mayopoulos, who announced his intent to depart in July.
Frater has served on Fannie Mae’s board since 2016. He was CEO of Berkadia Commercial Mortgage LLC from 2010 to 2014 and then was the national commercial real estate company’s chairman for a year afterward.
Previously, Frater was an executive vice president at PNC Financial…
