Fannie Mae Names Two Technology and Financial Services Executives to the Board of Directors

Google Executive Karin J. Kimbrough and Coinbase Global, Inc. Executive Brian P. Brooks Will Complement Experienced and Diversely Skilled Fannie Mae Board

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Fannie Mae

Mar 20, 2019, 16:36 ET

WASHINGTON, March 20, 2019 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced that Karin J. Kimbrough and Brian P. Brooks were elected to its Board of Directors. These two new directors are respected and knowledgeable business leaders in the technology and financial services sectors. They join other similarly dynamic and accomplished individuals on a Board of Directors that continues guiding Fannie Mae in its drive to be America's most valued housing partner.

"I am pleased to welcome Karin and Brian to the Fannie Mae Board of Directors," said Jonathan Plutzik, Chairman of the Board. "We will benefit greatly from their unique insights and perspective as the company delivers on its mission to provide liquidity to the mortgage market and support access to credit and affordable housing for families across the country."

"Karin and Brian are the right additions to our Board as we continue finding innovative ways to make housing more affordable while driving digital transformation of the mortgage experience for our customers and partners," said Hugh R. Frater, Interim Chief Executive Officer. "Their deep experience in technology and banking will complement the expertise of their peers on the Board as they help guide us toward achieving our corporate priorities."

Ms. Kimbrough has served as Assistant Treasurer for Google since October 2017. She previously served as a Managing Director and Head of Macroeconomic Policy at Bank of America Merrill Lynch from November 2014 to October 2017. Prior to that time, Ms. Kimbrough worked at the Federal Reserve Bank of New York from 2005 to October 2014, serving as a director for the Financial Stability Monitoring Function in the Markets Group from 2010 to October 2014 and as a manager for analytical development from 2005 to 2010. Ms. Kimbrough previously worked as an economist and strategist at Morgan Stanley from 2000 to 2005.

Mr. Brooks has served as the Chief Legal Officer of Coinbase Global, Inc. since September 2018. He previously served as Fannie Mae's Executive Vice President, General Counsel and Corporate Secretary from November 2014 to September 2018. Prior to that time, Mr. Brooks was Vice Chairman of OneWest Bank N.A., from 2011 to November 2014, where he served as chief legal officer. Previously, Mr. Brooks was a partner at the law firm of O'Melveny & Myers LLP, where he served from 2008 through 2011 as managing partner of the Washington, D.C. office and from 2010 through 2011 as group leader of the firm's financial services practice.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.

SOURCE Fannie Mae