Daniel Mudd

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Daniel H. Mudd (born 1956) is the former president and CEO of Fannie Mae, a post he held from 2005 to 2008, [1] and more recently for 2+1⁄2 years, the CEO of Fortress Investment Group.

Contents

Education and early career

Mudd holds a B.A. degree in American history from the University of Virginia and an M.P.A. from the John F. Kennedy School of Government at Harvard University. [2] Mudd was an Officer in the United States Marine Corps and was decorated for his combat service in Beirut. [2] After a tour in the Office of the Secretary of Defense, he left the service to get his M.P.A. [2]

Mudd has been an advisor to Asia-Pacific Economic Cooperation (APEC) and has served on boards of the Council on Foreign Relations, the National Building Museum, Hampton University, Local Initiatives Support Corporation The University of Virginia board of Trustees, and the Sidwell Friends School. [2]

Early in his career, Mudd held positions in financial services and management consulting at the World Bank, Ayers Whitmore and Company, and Xerox Corporation. [3] Mudd later worked at GE Capital in International Financing, European Fleet Services, and Business Development. [3] At GE Capital, he became vice president for Business Development in 1991, was managing director for International Financing from 1993 to 1995, and became president and CEO for European Fleet Services in 1995. [2] From 1996 to 1999, he was president of GE Capital Asia-Pacific. [2] [3] Mudd was previously president and CEO of GE Capital, Japan before he joined Fannie Mae in February 2000. [3]

Fannie Mae

In February 2000, Mudd became a Director and Vice Chairman and Chief Operating Officer at Fannie Mae. [2] [4] He remained Chief Operating Officer until December 21, 2004. [2] Mudd was named interim CEO of Fannie Mae in December 2004, after Franklin Raines stepped down after the U.S. Securities and Exchange Commission (SEC) found Fannie Mae had violated accounting rules. [4] Mudd served as interim CEO of Fannie Mae until March 2005, and became the President and CEO of Fannie Mae on June 1, 2005. [2]

Mudd was a Director at Ryder System, Inc from 2002 to 2007. [2] In 2007, Mudd became a Director at Fortress Investment Group. [2] Forbes ranked Mudd 182nd in executive pay in 2005, 323rd in 2006, 337th in 2007, and 202nd in 2008. [5]

Subsequent career

Mudd, for 2+1/2 years to December 2011, [6] was the CEO of Fortress, a hedge fund in New York City that has among other investments bought tax liens on delinquent property taxes from local governments. [7]

Personal life

He is the son of former TV anchorman Roger Mudd. [8] His family is indirectly related to Samuel Mudd, the doctor who was imprisoned for aiding and conspiring with John Wilkes Booth after the assassination of Abraham Lincoln. [9]

In 2000 he and his spouse purchased a historical property in Washington dated back to 1927. [10] At the time, it was valued at $5.15 million. It was put back on the market in 2009. [11]

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References

  1. ↑ US Bails out Fannie Mae & Freddie Mac NYTimes
  2. 1 2 3 4 5 6 7 8 9 10 11 "Daniel Mudd: Executive Profile & Biography". investing.businessweek.com. BusinessWeek . Retrieved December 9, 2008.
  3. 1 2 3 4 "Daniel H. Mudd Profile". people.forbes.com. Forbes.com LLC. Archived from the original on March 9, 2009. Retrieved December 9, 2008.
  4. 1 2 "Franklin Raines out at Fannie". CNNMoney.com. December 22, 2004. Retrieved December 9, 2008.
  5. ↑ "Daniel H. Mudd Rankings". people.forbes.com. Forbes.com LLC. Archived from the original on July 22, 2011. Retrieved December 9, 2008.
  6. ↑ Hilzenrath, David S., "Former Fannie Mae CEO Mudd takes leave from hedge fund firm", Washington Post, December 21, 2011. Retrieved December 21, 2011.
  7. ↑ Fred Schulte and Ben Protess (October 18, 2010). "The New Tax Man: Big Banks and Hedge Funds". Huffington Post Investigative Fund. Archived from the original on September 4, 2011. Retrieved September 20, 2011.
  8. ↑ "Government may soon back troubled mortgage giants". Archived from the original on February 15, 2012. Retrieved March 13, 2022.
  9. ↑ Goldstein, Richard (May 25, 2002), "Dr. Richard Mudd, 101, Dies; Grandfather Treated Booth (limited no-charge access)", The New York Times, retrieved May 23, 2009
  10. ↑ Chung, Juliet. "Fannie Mae's Former Chief, Mudd, Sells in Washington", The Wall Street Journal, September 11, 2009. Accessed July 14, 2014.
  11. ↑ CHUNG, JULIET (September 11, 2009). "Fannie Mae's Former Chief, Mudd, Sells in Washington". The Wall Street Journal. ISSN   0099-9660 . Retrieved August 12, 2020.
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