DEFINITION of 'Herbert M. Allison Jr.'

Became the president and CEO of Fannie Mae in 2008. Fannie Mae is a government sponsored enterprise that works with mortgage lenders to ensure liquidity and stability in the U.S. housing market. Before joining Fannie Mae, he was chairman, president, and CEO of TIAA-CREF. Allison Jr. began his career with Merrill Lynch and worked there for more than two decades.

BREAKING DOWN 'Herbert M. Allison Jr.'

Allison Jr. has also been a director of Time Warner, Merrill Lynch, Financial Engines, the NASDAQ, the New York Stock Exchange and several other companies. He was born in Pittsburgh in 1943, spent four years in Vietnam as a member of the U.S. Navy and earned an MBA from Stanford University.

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