Banking | Finance 2025: HUTCHINS, MICHAEL T.

It’s musical chairs at Freddie Mac, Virginia’s top-ranked company on Fortune’s U.S. and Global 500 lists.

In March, Hutchins became the government-sponsored home mortgage company’s interim CEO for the second time in a year after the Trump administration fired Diana Reid, who’d served as CEO just over six months. It’s a pivotal time for Freddie Mac as President Donald Trump is reportedly planning to take it and Fannie Mae public with an IPO. In August, The Wall Street Journal reported those plans involve raising about $30 billion from selling 5% to 15% of the companies’ stock. Combined, the companies would be valued at about $500 billion.

With more than three decades of finance experience, Hutchins joined Freddie Mac in 2013 and was named president in 2020. Previously, he was CEO of The PrinceRidge Group, a financial services firm he co-founded. And prior to that, he worked from 1996 to 2007 at UBS, serving in several roles, including as the global head of the investment bank and financial services firm’s fixed income, rates and currencies group.

Freddie Mac reported a net revenue of $23.9 billion in 2024, up from $21.2 billion in 2023. It was ranked No. 38 on the 2025 Fortune 500.

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