The US Federal Agricultural Mortgage Corporation, better known as Farmer Mac, has lined up Geraldine Hayhurst as chief legal officer, replacing general counsel Stephen Mullery who is set to retire next year.
Hayhurst was most recently associate GC for corporate and compliance at CoStar Group, having spent much of her career at mortgage giant Freddie Mac. At Farmer Mac, she will oversee the company’s legal team and help support its growth efforts. She is due to join the company on 8 September.
Washington DC-based Farmer Mac provides financing solutions for agricultural lenders and other agribusinesses to support rural infrastructure and agriculture in the US.
Brad Nordholm, Farmer Mac’s president and chief executive officer, said: “[Hayhurst’s] experience creating and driving strategy have helped her achieve significant success in previous roles, and we look forward to her sharing these talents with our team. She has also been a proven leader, advising board members and acting as a key advisor to CEOs and executive committee members.”
Hayhurst spent a short time at CoStar before leaving in May. She previously spent more than three years at NewPoint Real Estate Capital as GC, which she joined after nearly 16 years at Freddie Mac where most recently she was deputy GC for mortgage securities and strategic corporate initiatives. She originally joined in 2006 as associate GC for mortgage securities, a role she held for close to a decade.
Prior to her time at Freddie Mac, Hayhurst was an attorney advisor at the US Securities and Exchange Commission, having started her career in private practice at legacy firm Shearman & Sterling.
She said: “I am grateful for the opportunity to work for a company that is so steadfastly devoted to its mission. Farmer Mac is a terrific fit for my values, skillsets and leadership style, and I look forward to working with Brad and everyone on the team in helping to continue the company’s growth and maintain its track record of fostering ethical behaviour and effective corporate governance.”
Mullery, meanwhile, is set to leave Farmer Mac in April next year after 25 years at the company, remaining on until then to ensure a smooth transition. He originally joined in 2000 as assistant GC, before becoming deputy GC in 2009 and then GC in 2012. He previously worked in private practice at Cadwalader Wickersham & Taft.
Nordholm said: “Steve has dedicated a significant part of his career to serving rural America with Farmer Mac. As one of our longest-serving leaders, Steve exemplifies Farmer Mac’s brand values in his management of the company’s legal affairs. Steve’s work has been integral in strengthening Farmer Mac both financially and operationally as well as promoting an ethical culture and effective corporate governance.”
In other recent finance moves, last month Deutsche Bank announced it was hiring Freshfields’ white-collar crime head Simone Kämpfer as its next GC, replacing Friederike Rotsch in September. While back in February, US financial data firm Octus hired Megan Jones as GC from FactSet.
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