American Capital Agency Management, the external manager of American Capital Agency Corp., has hired Peter Federico as senior vice president and chief risk officer.

In this role, Federico will be responsible for overseeing all risk management activities relating to AGNC. He previously was executive vice president and treasurer of Freddie Mac, primarily responsible for managing that company's investment activities for its retained portfolio and developing, implementing and managing risk mitigation strategies.

Federico, who joined Freddie Mac in 1988, also was responsible for managing Freddie Mac's $1.2 trillion interest rate derivative portfolio and short and long-term debt issuance programs. Federico previously served in several other capacities at Freddie Mac, including senior vice president, asset and liability management.