About

Peter J. Federico has served as a Director and Chief Executive Officer of AGNC Investment Corp. since July 2021, as Chief Investment Officer since March 2025, and as President since March 2018.

He previously served as AGNC's Chief Operating Officer from March 2018 until July 2021, as Executive Vice President and Chief Financial Officer from July 2016 until March 2018, and as Senior Vice President and Chief Risk Officer from June 2011 until July 2016.

Prior to joining AGNC, Mr. Federico was Executive Vice President and Treasurer of Freddie Mac (October 2010-May 2011), where he managed the company's investment activities for its retained portfolio, its $1.2 trillion interest rate derivative portfolio, and its debt issuance programs; his Freddie Mac tenure began in 1988 and included the role of Senior Vice President, Asset & Liability Management.

Roles

AGNC Investment Corp.
Director, President, Chief Executive Officer & Chief Investment Officer · Current role
2011–present
AGNC Investment Corp.
Chief Operating Officer
March 2018 - July 2021
AGNC Investment Corp.
Executive Vice President & Chief Financial Officer
July 2016 - March 2018
AGNC Investment Corp.
Senior Vice President & Chief Risk Officer
June 2011 - July 2016
Freddie Mac
Executive Vice President & Treasurer · Managed retained-portfolio investment activities, a $1.2 trillion interest rate derivative portfolio, and short- and long-term debt issuance programs.
October 2010 - May 2011
Freddie Mac
Senior Vice President, Asset & Liability Management · Held various capacities at Freddie Mac; tenure with the company began in 1988.
—
AGNC Investment Corp.
Chief Financial Officer
Jul 2016 – Mar 2018
AGNC Investment Corp.
Chief Risk Officer
Jun 2011 – Jul 2016
Freddie Mac
Executive Vice President and Treasurer · Managed the company's roughly $1.2 trillion interest-rate derivative portfolio.
Oct 2010 – May 2011

Fixed Compensation

FY 2025
Salary
$900,000
All Other Compensation
$21,000
Detail401(k) employer match

Performance Compensation

Data from FY 2025

Cash incentive

Annual Cash Incentive (Bonus)
$7,537,500
Target Opportunity
—
Corporate Scorecard payout167.5% of target
Financial metrics (75% weight) component payout183.4%
Strategic & operational objectives (25% weight) component payout120.0%
Absolute annual economic return (25% metric weight)actual 22.7% vs 10.0% target
Relative annual economic return (35% metric weight)+7.4 pts vs Agency REIT peer avg
Relative price-to-tangible book ratio (15% metric weight)+19.7 pts vs Agency REIT peer avg
Target annual bonus$4,500,000 (per employment-agreement amendment; 167.5% payout = $7,537,500)

Stock awards

Stock Awards (RSUs) - grant date fair value
$5,750,000
Time-based RSUs184,402 units, $1,897,500
Performance-based RSUs (target)374,392 units, $3,852,500
Performance-based RSUs (maximum)748,784 units
Grant date3/3/2025
VestingTime-based: ratably over ~3 years; Performance-based: cliff after 3-year performance period, payout 0-200% of target

Also at AGNC Investment Corp.

Colleague
Bernice E. Bell
Executive Vice President & Chief Financial Officer
Colleague
Gary D. Kain
Director & Executive Chair
Colleague
Kenneth L. Pollack
Executive Vice President, General Counsel, Chief Compliance Officer & Secretary

Related

Company
AGNC Investment Corp.
Company hub
Deal
Agnc Investment American Capital Mortgage Management 2016
Deal page

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