Johnson takes CFO post at Fannie Mae

The troubled mortgage lender which had to be bailed out by the American
government earlier this year has taken on David Johnson as its chief financial
officer CFO.com
reported.

Johnson will be the third CFO at Fannie Mae in the space of a year. He joins
from Hartford Financial Services, the providers of personal insurance and
financial products.

Prior to Hartford he was CFO at business and consumer services provider
Cendant.

Within months of Johnson joining Cendant, the company was embroiled in a
financial scandal. It had merged with CUC International and according to
Johnson, CUC had ‘turned out to be run by criminals.’

Johnson was also CFO at Hartford when it was involved in a major scandal in
2006 which last year saw the attorney general announce that Hartford had agreed
to pay $115m to settle claims made by Connecticut, Illinois and New York – that
it faked bids and allowed illegal trading in certain mutual funds.