Daniel Mudd

{{short description|American businessman}} {{Use mdy dates|date=March 2021}} '''Daniel H. Mudd''' (born 1958) is the former president and CEO of Fannie Mae, a post he held from 2005 to 2008,<ref>[https://www.nytimes.com/2008/07/14/washington/14fannie.html?pagewanted=2&_r=1&th&adxnnl=1&emc=th&adxnnlx=1216030237-4oITSZTbIUtwN64NxM6eug US Bails out Fannie Mae & Freddie Mac] NYTimes</ref> and more recently for {{frac|2|1|2}} years, the CEO of Fortress Investment Group.

==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.<ref name=businessweek/> Mudd was an Officer in the United States Marine Corps and was decorated for his combat service in Beirut.<ref name=businessweek/> After a tour in the Office of the Secretary of Defense, he left the service to get his M.P.A.<ref name=businessweek/>

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.<ref name=businessweek/>

Early in his career, Mudd held positions in financial services and management consulting at the World Bank, Ayers Whitmore and Company, and Xerox Corporation.<ref name=forbes/> Mudd later worked at GE Capital in International Financing, European Fleet Services, and Business Development.<ref name=forbes/> 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.<ref name=businessweek/> From 1996 to 1999, he was president of GE Capital Asia-Pacific.<ref name=businessweek/><ref name=forbes/> Mudd was previously president and CEO of GE Capital, Japan before he joined Fannie Mae in February 2000.<ref name=forbes>{{cite web|url=https://people.forbes.com/profile/daniel-h-mudd/31759 |archive-url=https://web.archive.org/web/20090309085907/http://people.forbes.com/profile/daniel-h-mudd/31759 |url-status=dead |archive-date=March 9, 2009 |title=Daniel H. Mudd Profile |work=people.forbes.com |publisher=Forbes.com LLC |access-date=December 9, 2008 }}</ref>

==Fannie Mae== In February 2000, Mudd became a Director and Vice Chairman and Chief Operating Officer at Fannie Mae.<ref name=businessweek/><ref name=cnnmoney>{{cite web|url=https://money.cnn.com/2004/12/21/news/fortune500/fannie/ |archive-url=https://web.archive.org/web/20050113053236/http://money.cnn.com/2004/12/21/news/fortune500/fannie/ |url-status=dead |archive-date=January 13, 2005 |title=Franklin Raines out at Fannie |publisher=CNNMoney.com |date=December 22, 2004 |access-date=December 9, 2008 }}</ref> He remained Chief Operating Officer until December 21, 2004.<ref name=businessweek/> 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.<ref name=cnnmoney/> Mudd served as interim CEO of Fannie Mae until March 2005, and became the President and CEO of Fannie Mae on June 1, 2005.<ref name=businessweek/>

Mudd was a Director at Ryder System, Inc from 2002 to 2007.<ref name=businessweek/> In 2007, Mudd became a Director at Fortress Investment Group.<ref name=businessweek>{{cite web|url=http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=271139 |title=Daniel Mudd: Executive Profile & Biography |work=investing.businessweek.com |publisher=BusinessWeek |access-date=December 9, 2008 }}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}</ref> Forbes ranked Mudd 182nd in executive pay in 2005, 323rd in 2006, 337th in 2007, and 202nd in 2008.<ref name=rankings>{{cite web|url=https://people.forbes.com/rankings/daniel-h-mudd/31759 |title=Daniel H. Mudd Rankings |work=people.forbes.com |publisher=Forbes.com LLC |access-date=December 9, 2008 |archive-url=https://web.archive.org/web/20110722161420/http://people.forbes.com/rankings/daniel-h-mudd/31759|archive-date=July 22, 2011}}</ref>

==Subsequent career== Mudd, for {{Sfrac|2|1|2}} years to December 2011,<ref name=WP01>Hilzenrath, David S., [https://www.washingtonpost.com/business/economy/former-fannie-mae-ceo-mudd-takes-leave-from-hedge-fund-firm/2011/12/21/gIQApzIQ9O_story.html "Former Fannie Mae CEO Mudd takes leave from hedge fund firm"], ''Washington Post'', December 21, 2011. Retrieved December 21, 2011.</ref> 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.<ref>{{cite web |url=http://huffpostfund.org/stories/2010/10/new-tax-man-big-banks-and-hedge-funds |title=The New Tax Man: Big Banks and Hedge Funds |author=Fred Schulte and Ben Protess |work=Huffington Post Investigative Fund |date=October 18, 2010 |access-date=September 20, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110904071514/http://huffpostfund.org/stories/2010/10/new-tax-man-big-banks-and-hedge-funds |archive-date=September 4, 2011 }}</ref>

==Personal life==

He is the son of former TV anchorman Roger Mudd.<ref>{{Cite web |url=http://finance.comcast.net/www/news.html?x=http%3A%2F%2Fwww.origin.comcast.akadns.net%2Fdata%2Fnews%2F2008%2F09%2F06%2F1052017.xml |title=Government may soon back troubled mortgage giants |access-date=March 13, 2022 |archive-date=February 15, 2012 |archive-url=https://web.archive.org/web/20120215142607/http://finance.comcast.net/www/news.html?x=http%3A%2F%2Fwww.origin.comcast.akadns.net%2Fdata%2Fnews%2F2008%2F09%2F06%2F1052017.xml |url-status=dead }}</ref> 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.<ref>{{Citation|url=https://www.nytimes.com/2002/05/25/us/dr-richard-mudd-101-dies-grandfather-treated-booth.html|title=Dr. Richard Mudd, 101, Dies; Grandfather Treated Booth (limited no-charge access)|last=Goldstein|first=Richard|date=May 25, 2002|work=The New York Times|access-date=May 23, 2009}}</ref>

In 2000 he and his spouse purchased a historical property in Washington dated back to 1927.<ref>Chung, Juliet. [https://www.wsj.com/articles/SB10001424052970203440104574400963490601596 "Fannie Mae's Former Chief, Mudd, Sells in Washington"], ''The Wall Street Journal'', September 11, 2009. Accessed July 14, 2014.</ref> At the time, it was valued at $5.15 million. It was put back on the market in 2009.<ref>{{Cite news|last=CHUNG|first=JULIET|date=September 11, 2009|title=Fannie Mae's Former Chief, Mudd, Sells in Washington|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/SB10001424052970203440104574400963490601596|access-date=August 12, 2020|issn=0099-9660}}</ref>

==References== {{Reflist}}

{{DEFAULTSORT:Mudd, Daniel}} Category:1956 births Category:Living people Category:University of Virginia alumni Category:Harvard Kennedy School alumni Category:Fannie Mae chief executive officers