Freddie Mac naming ex-E*Trade head as new CEO

Donald Layton, the former chief executive of brokerage firm E(asterisk)Trade Financial Corp, will be the next CEO of Freddie Mac.

WASHINGTON (AP) -- Donald Layton, the former chief executive of brokerage firm E(asterisk)Trade Financial Corp, will be the next CEO of Freddie Mac....

(Reuters) - Freddie Mac is preparing to name Donald Layton, the former chief executive of online brokerage E*Trade Financial Corp, as its next CEO, the Wall Street Journal said on Tuesday. Citing people familiar with the matter, the report said the company is expected to announce the hiring as soon as Thursday. The Journal said the appointment would end a six-month search for the mortgage giant's third chief executive in the four years since the government took control of it. (Reporting by Steve James; Editing by Gary Hill)

Fannie Mae CEO Michael Williams plans to resign, the government-controlled mortgage giant said Tuesday. Williams, who took over as president and CEO of the troubled company in 2009, will continue as CEO until Fannie Mae's board names a successor. The firm did not provide a specific reason for Williams' departure; in a statement, Williams said only that he had decided that "the time is right to turn over the reins to a new leader." Williams will leave behind a firm still struggling to get its finances in order.

Mortgage giant Freddie Mac says Chief Executive David Moffett is resigning. Freddie Mac said Monday that Moffett will step down as CEO and from the board of directors no later than March 13.