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Robert E. Bostrom, general counsel of much-maligned Freddie Mac, is leaving July 29 to become partner and co-head of the financial-institutions sector at SNR Denton. “The arrival of Bob Bostrom is a milestone for our Financial Institutions and Funds sector and validation of the strategy we have set out as a new global law firm,” said SNR Denton Global Chief Executive Elliott Portnoy. “Bob has worked at the highest levels of leadership in the banking sector, in private legal practice and inside a government-sponsored corporation during a period that gave rise to unprecedented business, legal and reputational challenges.” Principal deputy general counsel John Dye will serve as Freddie Mac’s interim GC while the company conducts an internal and external search to fill the position. Bostrom came to the company, formally known as the Federal Home Loan Mortgage Corporation, in February of 2006 after a series of scandals involving violations of securities and campaign contribution laws dating back to 2002. He was considered a steadying influence on a company that has seen four CEOs in the past six years. He also helped navigate the company successfully into a federal conservatorship during the financial crisis in the fall of 2008, where it remains currently. Since then, a growing chorus of Republicans in the U.S. Congress has been calling for the closure of Freddie Mac and its larger sister, Fannie Mae. Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support affordable home ownership and rental housing, mainly through purchasing mortgages. In an interview on July 8, CorpCounsel.com asked Bostrom about his future plans, given that the company’s future still lies in the hands of politicians. “There is great uncertainty around the future of the GSE’s [government-sponsored entities] and what they would look like,” he replied. “At some point I suppose I will transition elsewhere, hopefully to something as extraordinary as this has been.” During that interview, Bostrom spoke of the spirit and dedication of his staff of lawyers, who all worked 24/7 through one crisis after another—and most have remained despite the uncertainties, he said. “These people have been in a state of crisis for eight years, and no one skipped a beat. It is the most incredible thing I’ve ever seen. I marvel at it even today.” Bostrom’s interim replacement, Dye, joined Freddie Mac in 2007 after serving as associate general counsel for 13 years at Citigroup, Inc., in New York. He previously worked for 10 years at Brown & Wood, now Sidley Austin, also in NYC.

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