Fannie Mae Appoints Peter Akwaboah as Chief Operating Officer

Akwaboah Brings Nearly Three Decades of Experience from Across the Financial Services Industry

WASHINGTON, Feb. 22, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced Peter Akwaboah has been appointed Executive Vice President and Chief Operating Officer (COO), effective May 20, 2024. Akwaboah has nearly three decades of experience from across the financial services industry and will be responsible for Fannie Mae's Chief Information Office, Enterprise Operations, Business Resiliency, and Enterprise Workplace and Security functions. In this role, Akwaboah will be a member of Fannie Mae's Management Committee and report to Chief Executive Officer (CEO) Priscilla Almodovar.

"Peter's many years of experience and unique combination of technology and operations expertise will add to our deep leadership bench, and his wealth of experience and industry knowledge will bring great value to the company," said Priscilla Almodovar, CEO, Fannie Mae. "We look forward to the talent and experience he'll bring to our technology and operations as we continue to respond to the needs of the market, carefully balancing innovation, risk management, and our commitment to our housing mission."

Akwaboah is a Managing Director and serves as the Chief Operating Officer for Technology and the Head of Innovation at Morgan Stanley. In this role, he is responsible for driving the technology strategy with a focus on fueling the firm's innovation, effectiveness, and resilience. Akwaboah also has partnered with Morgan Stanley's businesses to build on the firm's technology investments and delivery opportunities to enable profitability. Akwaboah serves on the Board of the Morgan Stanley Foundation and is a member of the Federal Reserve Bank's Payments Risk Committee. Before joining Morgan Stanley in 2015, Akwaboah spent a decade at the Royal Bank of Scotland, including as Asia Pacific Chief Operating Officer for Operations, Technology, and Corporate Services. Prior to that, he held leadership roles in operations and technology at Deutsche Bank, KPMG, and IBM.

Akwaboah serves on the Boards of the Foundation of Orthopedics and Complex Spine and the Museum of American Finance. He has a Bachelor of Engineering in Civil Engineering from the University of Birmingham, England.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
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SOURCE Fannie Mae