Belfast Telegraph

Tuesday 30 September 2014

Senior executive at Freddie Mac found dead

This undated photo provided by Freddie Mac shows David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac. Kellermann was found dead at his home Wednesday morning April 22, 2009 iin what police said was an apparent suicide. (AP Photo/Freddie Mac)

A senior executive at US mortgage giant Freddie Mac was yesterday found dead at his home in an apparent suicide.

Fairfax County Police confirmed that the body of David Kellermann, 41, acting chief financial officer at the government-sponsored lender, was found shortly before 5am local time at his home in Virginia.

Freddie Mac has yet to comment on the death.

A spokeswoman for Fairfax County Police said: "Police were called to attend an unattended death at around 4.48am.

"On arrival, police found the body of a man identified as David Kellermann."

An investigation has been launched but there is no sign of foul play, the police spokeswoman added.

Mr Kellermann was named as chief financial officer of the struggling mortgage lender last September.

His death is the latest blow to hit Freddie Mac.

The firm was one of the highest profile victims of the sub-prime crisis that contributed to the global economic downturn.

Alongside sister company Fannie May, it had to be rescued by Washington as the extent of its problems became known. Both were nationalised to prevent potential collapse.

Last month, Freddie Mac's chief executive David Moffett resigned.

John Koskinen, acting chief executive of Freddie Mac, described Mr Kellermann as "a man of many talents".

He added: "He dedicated those talents to Freddie Mac for more than 16 years, serving in many business and finance capacities before recently taking the reins as acting chief financial officer.

"His extraordinary work ethic and integrity inspired all who worked with him.

"But he will be most remembered for his affability, his personal warmth, his sense of humour and his quick wit.

"David was a friend to many in the Freddie Mac family, and we mourn his passing."

Kellermann in top post less than a year

David Kellermann's apparent suicide comes less than a year after he was appointed to the demanding post of acting chief financial officer at Freddie Mac.

In the role, he was responsible for overseeing the financial reporting and compliance of the firm which was taken over by the US government last year after becoming one of the highest profile victims of the sub-prime crisis.

The appointment marked the high point of a 16-year career at Freddie Mac.

He began his association with the firm in 1992, working for several years as a financial analyst and auditor.

Mr Kellermann made his way up the company, attaining the post of senior vice-president and business area controller, before taking over as interim CFO in September 2008.

He lived in a suburban area of Reston, Virginia. It has been reported that his body was found by his wife, who notified police.

Outside work he was a volunteer board member for the charity DC Coalition for the Homeless.

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