Fifth Third appoints former Fannie Mae CEO to board

Fifth Third Bancorp has appointed former Fannie Mae president and CEO Priscilla Almodovar to its board of directors, effective January 7, 2026, succeeding retiring director Thomas H. (Hal) Harvey. Almodovar brings more than 35 years of leadership experience in complex, regulated financial and housing organizations, including leading Fannie Mae, a $4.1$ trillion dollar government‑sponsored enterprise, through a period of strategic transformation. She will serve on Fifth Third’s Nominating and Corporate Governance Committee as well as its Risk and Compliance Committee, where her background in mortgage finance, affordable housing, and large‑scale risk management is expected to support the bank’s governance and growth strategy.

Priscilla Almodovar is a senior American business executive best known for serving as president and CEO of Fannie Mae, one of the largest providers of mortgage financing in the United States. She is widely recognized as a leading figure in U.S. housing finance and has been featured on major “most powerful women” lists for her influence in the industry.​

Early life and education

• Almodovar grew up in Sunset Park, Brooklyn, and in Freeport, Long Island, New York.​

• She earned a bachelor’s degree (economics) from Hofstra University and a Juris Doctor from Columbia Law School.​

Legal and public-sector beginnings

• She began her career at the law firm White & Case in New York, ultimately becoming a partner focused on corporate and project finance.​

• In the mid‑2000s she moved into public service, becoming president and CEO of the New York State Housing Finance Agency and the State of New York Mortgage Agency, overseeing state housing finance programs.​

Banking and affordable housing leadership

• Almodovar spent roughly a decade at JPMorgan Chase as a managing director, leading national real estate and community development banking businesses focused on commercial real estate and affordable housing.​

• She later became president and CEO of Enterprise Community Partners, a national nonprofit and investment platform dedicated to expanding affordable housing, where she helped launch a multi‑billion‑dollar affordable housing initiative.​

Role at Fannie Mae and board work

• In 2022 she was appointed CEO (and later president) of Fannie Mae, where she led efforts to promote equitable and sustainable access to homeownership and quality rental housing across the U.S.​

• She has also served as an independent board member at Realty Income and has held other governance and advisory roles, bringing expertise in real estate finance, risk management, and corporate oversight.​