Kenny M. Smith Appointed as Freddie Mac's Next CEO: What to Know About the Leadership Transition

Freddie Mac announced a major leadership change on December 16, with the appointment of Kenny M. Smith as its new chief executive officer. The transition will take effect on December 17, marking a significant moment for the housing finance giant. Smith will also join the company's Board of Directors, while Michael Hutchins, the current interim CEO, will remain as president of the organization.

**The New Leader's Extensive Background**

Smith brings considerable expertise to the role, with nearly four decades of experience across the financial services sector. Prior to this appointment, he spent 27 years at Deloitte Consulting LLP, where he rose to prominence as Vice Chairman and U.S. Financial Services Industry Leader—a position he held for five years. During his tenure at Deloitte, Smith also served as Global Lead Client Service Partner for Wells Fargo & Company from 2008 to 2019, providing strategic guidance on complex organizational challenges.

His career at Deloitte encompassed oversight of multiple financial services sectors, including banking and capital markets, real estate, insurance, and investment management. In these roles, he regularly advised senior management across major financial institutions on matters ranging from strategy to risk management and corporate governance.

**Educational Credentials and Professional Recognition**

Smith holds a Bachelor of Business Administration from Texas Tech University and is a Certified Public Accountant. He has been honored as a Distinguished Alumni of the Rawls College of Business and serves on its Emeritus Advisory Council.

**Perspectives on the New Leadership**

Mike Hutchins, who transitions to the role of president, expressed confidence in Smith's appointment: "Kenny Smith's background and decades of experience in financial services will be an asset to Freddie Mac as we continue to meet the needs of homeowners, renters and the industry in 2026 and beyond."

Smith himself emphasized the significance of the organization's mission. "I am honored and excited to join the team at Freddie Mac," he stated. "Freddie Mac plays a vital role in the nation's housing finance system, and I look forward to working with our talented team to expand access to homeownership and rental housing across the country."

This leadership transition positions Freddie Mac to navigate the evolving housing finance landscape with Smith's extensive financial services expertise guiding strategic direction.