Ghanaian appointed COO of Fannie Mae

A Ghanaian living in the US has been appointed the Executive Vice-President and Chief Operating Officer (COO) of USA's mortgage financing, Fannie Mae.

Peter Akwaboah, whose appointment takes effect from May 20, 2024, will on assumption of office, join Fannie Mae's management committee and will be responsible for the company's chief information office, enterprise operations, enterprise workplace and security functions.

He joins Fannie Mae from Morgan Stanley, where he presently is a Managing Director and the Chief Operating Officer for Technology and the Head of Innovation.

Confirming his appointment, the Chief Executive Officer (CEO) of Fannie Mae, Priscilla Almodovar, said: "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.”

"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," Ms Almodovar said.

Profile

Mr Akwaboah has over 30 years experience in the financial space having worked with the Royal Bank of Scotland, including as Asia Pacific Chief Operating Officer for Operations, Technology, and Corporate Services and also at Deutsche Bank, KPMG and IBM.

Since joining Stanley Morgan in 2015, Mr Akwaboah has served on the Board of the Morgan Stanley Foundation and is a member of the Federal Reserve Bank’s Payments Risk Committee.

He also serves as a board member of the Museum of American Finance and in Ghana, serves on the Board of the Foundation of Orthopedics and Complex Spine.

In 2019, Akwaboah was honoured with the 2019 Corporate Leadership Award at the FACE List Awards gala during the Pan-African Weekend.

He holds a Bachelor of Engineering in Civil Engineering from the University of Birmingham, England.