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Swad Now Holds Fannie’s CFO Job

Planned transition at the government-sponsored mortgage finance company moves Blakely to executive vice president after leading turnaround.
Roy HarrisAugust 23, 2007

In the midst of unprecedented turmoil among mortgage-finance companies, Stephen M. Swad officially took over as financial chief at Fannie Mae.

As previously announced, former CFO Robert Blakely, who led the financial cleanup at what had been the scandal-ridden government-sponsored giant, remains as executive vice president through the end of the year.A veteran turnaround CFO, Blakely formerly helped WorldCom recover from its fraud-plagued years.

Swad, 46 years old, is a former executive vice president and CFO of AOL, and before that was vice president of finance ad administration at Turner Broadcasting System. A former deputy chief accountant at the Securities and Exchange Commission, he also is a certified public accountant and had been a partner at KPMG.

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