Skip to main content

Franklin Delano Raines

Created by

Born: January 14, 1949, Seattle, Washington

Company: Revolution LLC

Position: Director

Industry: Financial Services

Country: United States

Franklin D. Raines is Executive Chairman and co-founder of XAPPmedia. In that role he provides strategic guidance, assists in marketing and fundraising, and leads the board in oversight of the management team.

He is the retired Chairman and CEO  (1999 to 2004) of Fannie Mae, the biggest U.S. home mortgage lender.  He was vice chairman from 1991 to 1996. Fannie Mae has assets of $924 billion and is the second largest financial institution after Citigroup in the U.S.

In 2004, Franklin Raines, was forced out as Fannie Mae's leader after regulators concluded the company had manipulated its accounting, spurring a loss of about $30 billion in market value.

Franklin Raines is one of just a few African-American to become CEO of a Fortune 500 company.

Raines worked for 11 years at investment banking firm Lazard Freres and Co., where he was a general partner providing financial advice to public and private clients.

Raines served in the Administration of President Jimmy Carter as Assistant Director of the White House Domestic Council and Associate Director of the Office of Management and Budget from 1977-1979. He served in the Cabinet of President Bill Clinton from 1996 to 1998 as the Director of the Office of Management and Budget. In that role he led negotiations with Congress that resulted in the first balanced federal budget in thirty years

Frank Raines grew up in Seattle, Washington. He attended public schools, graduated from Franklin High School, and graduated magna cum laude from Harvard College in 1971. He attended Oxford University in England as a Rhodes Scholar and graduated from the Harvard Law School, cum laude, in 1976. He has received honorary doctorate degrees from Howard University, Lafayette College, Amherst College, the University of Maryland, and the University of Puget Sound. He is also the recipient of the Harvard Medal. He has been elected as a Fellow of the American Academy of Arts and Sciences and the Academy of Social Insurance and as a member of the Trilateral Commission and the Council on Foreign Relations.

Please Support Our Partners

Recently Added Black Executives

  • Septimus Blake

    Created by

    🇯🇲 Septimus Blake is Chief Executive Officer at National Commercial Bank Jamaica Limited. Mr. Blake joined NCB in March 2002, and has over two decades…

  • Ngozi Okonjo-Iweala

    Created by

    Dr. Ngozi Okonjo-Iweala is Director-General at World Trade Organization, since March 2021. Dr. Okonjo-Iweala is a international finance expert, an…

  • Carla Vernón

    Created by

    Carla Vernón Bowles is the CEO at The Honest Company (NASDAQ: HNST), effective January 9, 2023. With over two decades of experience in consumer goods…

Latest News & Articles

FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra.

We also a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to

Learn more...