The new secretary of the University will be Rosemary McManus, vice president for housing impact at Fannie Mae's northeastern regional office in Philadelphia. Fannie Mae is the nation's largest source of home mortgage money.

McManus will take over March 16, succeeding Interim Secretary Barbara Lowery, who will continue in her regular post as associate provost.

"Rosemary has extensive, successful experience as an administrator; a keen understanding of large, disparate organizations; and a deep respect for higher education and the challenges we face," President Judith Rodin said.

McManus has most recently been responsible for seeing that mortgages become available to under-serviced communities in the Northeast.

McManus holds a master's in business administration from George Washington University and a bachelor's degree in government and foreign affairs from the University of Virginia.