Linda B. Bammann to resign from Freddie Mac board

Freddie MacFreddie Mac announced last week that Linda B. Bammann will resign from the board of directors on Wednesday after nearly five years of service.

“Linda has been a thoughtful and highly effective leader on Freddie Mac’s board of directors during an extremely challenging time for the company,” Freddie Mac Chairman Christopher S. Lynch said. “She joined the board following conservatorship, and her tremendous risk expertise and knowledge of the financial markets have been invaluable to us all. I am enormously grateful to her for her service and wish her continued success in her future endeavors.”

Bammann, who served as the chairman of the board’s business and risk committee and a member of its compensation committee, notified the company of her decision to resign earlier this month. She joined the board of directors in 2008 and was re-elected in February by consent of the Federal Housing Finance Agency.

Previously, Bammann served as the executive vice president and deputy chief risk officer for JPMorgan Chase from 2004 to 2005. Before joining JPMorgan, Bammann held several positions with Bank One, beginning in 2000.

She also served as a member of Bank One’s executive planning group, and from 1992 to 2000, she held the position of managing director with UBS Warburg. She also served as the chairman of the Loan Syndications and Trading Association and as a board member of the Risk Management Association.

“My time on Freddie Mac’s board of directors has been both productive and rewarding,” Bammann said. “It has been a privilege to be a part of the important work of Freddie Mac, particularly during such a critical time for the housing market as well as the economy in general. I want to thank my fellow board members and the management team and wish the company well as it continues its important work.”

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