• Most Popular
  • Most Shared

CIT's Jeff Peek resigns from Freddie Mac board

Wed Sep 19, 2007 8:44am EDT

Stocks

   

NEW YORK, Sept 19 (Reuters) - Mortgage funder Freddie Mac (FRE.N) said on Wednesday that Jeff Peek, chief executive of CIT Group Inc (CIT.N), has resigned from its board of directors to avoid the appearance of conflict, after Freddie Mac proposed buying CIT assets.

Mergers & Acquisitions  |  Bonds

CIT said last month it had closed its mortgage lending operations. The company has suggested it would consider selling its remaining mortgage assets.

Peek resigned from Freddie's board effective Sept. 17. (Reporting by Dan Wilchins)

Mergers & Acquisitions
Bonds


More from Reuters

Gulf to keep spending high in 2010 as oil prices up

DUBAI (Reuters) - Gulf Arab states are likely to keep their large spending packages in place next year, even as major economies withdraw stimulus, as higher oil prices give the world's top oil exporting region enough room to support a fragile recovery.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review