Freddie Mac named William McDavid as its new executive vice president, general counsel and corporate secretary.  He was chosen to relieve Alicia Myara, who has been interim general counsel since November 2011.

McDavid’s transition into the long-term position will bring stability to the company’s management committee.  He will work alongside Donald Layton, chief executive officer.

‘Few people have [McDavid’s] specific experience of being the general counsel of a large financial institution, and that is why he is perfectly suited to help Freddie Mac navigate an increasingly challenging and changing environment,’ Layton says. ‘His appointment also further strengthens our management team as we work together for the broader benefit of the nation’s housing finance system.’

Prior to McDavid’s employment with Freddie Mac, he was co-general counsel for JP Morgan Chase. Before the merger with BankOne in 2004, and its earlier business Chemical Bank, McDavid served as general counsel. His career focuses on the field of law and bank regulations in line with corporate governance.

McDavid started his career in 1972 as an associate in corporate practice at Debevoise & Plimpton. He was then associate general counsel for Bankers Trust Company from 1981 to 1988.  During that time he spent two years in London as head of its European legal division. McDavid holds an AB degree from Columbia College and a JD degree from Yale Law School. He is a member of the executive committee of Yale Law School Association and served for many years as a trustee, and as chair of the board of trustees, of the French-American School of New York.