[caption id="attachment_8529" align="alignleft" width="225"] Jonathan Plutzik, new board chair at Fannie Mae[/caption]

Fannie Mae named Jonathan Plutzik to succeed Egbert Perry as chair of the board, effective Dec. 12, 2018. Perry will step down on Dec. 19, 2018, following 10 years of service to the board.

"I am pleased to announce Jonathan Plutzik as the new chair of Fannie Mae's board of directors," said Perry, outgoing chair of the board. "Jonathan's long-standing service and experience on the board will provide the company with deep institutional knowledge and valuable guidance as the company moves forward with its mission to provide access to safe, affordable mortgage financing in the U.S."

Plutzik joined the Fannie Mae board in November 2009. During his tenure, he has served as vice chair of the board and chair of the risk policy and capital committee. Also, he served as vice chair of the strategic initiatives and technology committee, and as a member of the compensation committee.

Perry has been a Fannie Mae director since December 2008 and was appointed chair of Fannie Mae's board in March 2014. Absent a waiver, the Federal Housing Finance Agency's corporate governance regulations limit service on Fannie Mae's board to 10 years or age 72, whichever comes first.

"We greatly appreciate the strong leadership, passion, and integrity Egbert has brought to Fannie Mae over the last 10 years. Egbert played an essential role in leading the transformation of Fannie Mae into the company it is today," said Hugh Frater, interim chief executive officer of Fannie Mae. "Jonathan's appointment as chair brings stability and continuity to the company, and we look forward to continuing our progress in his new role. The board and the company will benefit from Jonathan's insights and commitment to continuing the great strides we have made over the past decade."

Plutzik has served as chairman of Betsy Ross Investors LLC since 2005. Also, he served in positions with Credit Suisse Group for 24 years before retiring as vice chairman in 2002.

"I look forward to continuing working with the board and our talented management team as they advance our mission to provide liquidity, stability, and affordability to the U.S. housing market and develop innovative solutions to solve America's housing challenges," said Plutzik.