Feb 16 Fannie Mae's general
counsel Timothy Mayopoulos has emerged as the leading internal
contender to become chief executive at the government-controlled
mortgage firm, the Wall Street Journal reported, citing sources.
In January, the company had said current CEO Michael
Williams will depart after a successor is appointed to lead the
country's largest provider of U.S. residential mortgage funding.
Mayopoulos was general counsel at Bank of America in
2008 but was pushed aside to make room for Brian Moynihan, who
became the bank's CEO a year later.
The business daily said officials are canvassing a wide
range of external candidates including Shekar Narasimhan, who
runs a housing-finance advisory firm, and David Stevens, CEO of
the Mortgage Bankers Association, for the job.
Fannie has chosen recruiters Heidrick & Struggles
International Inc to handle its CEO search, the Journal
said, quoting people familiar with the situation.
Fannie Mae wasn't immediately available for comment outside
regular business hours.