Difference between revisions of "Federal Deposit Insurance Corporation"

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Latest revision as of 15:45, 13 April 2010

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress that maintains the stability and public confidence in the U.S. financial system by insuring deposits, examining and supervising financial institutions, and managing receiverships.[1]


Organisational Structure

Board of Directors

Sheila C. Bair, Chairman, was sworn in as Chairman in June 2006. Before her appointment she was the Dean's Professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts-Amherst since 2002. From 2001 to 2002 she was Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury and 1995 to 2000 was Senior Vice President for Government Relations of the New York Stock Exchange.[2]
Martin J. Gruenberg, Vice Chairman, was sworn in as Vice Chairman in August 2005. He was previously Senior Counsel to Senator Paul S. Sarbanes (D-MD) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993 to 2005. He also served as Staff Director of the Banking Committee’s Subcommittee on International Finance and Monetary Policy from 1987 to 1992.[3]
Thomas J. Curry, Director, took office in January 2004. He previously served five Massachusetts Governors as the Commonwealth's Commissioner of Banks from 1990 to 1991 and from 1995 to 2003. He entered state government in 1982 as an attorney with the Massachusetts' Secretary of State's Office.[4]
John C. Dugan, Comptroller of the Currency, was sworn in in August 2005. Prior to his appointment as Comptroller, he was a partner at the law firm of Covington & Burling, where he chaired the firm's Financial Institutions Group. He specialized in banking and financial institution regulation. He also served as outside counsel to the ABA Securities Association.[5]
John E. Bowman, (Acting) Director of the Office of Thrift Supervision, joined the Office of Thrift Supervision in June 1999 as Deputy Chief Counsel for Business Transactions. He was previously a partner with the law firm of Brown & Wood LLP in its Washington, D.C., office. Before entering private practice he was Assistant General Counsel for Banking and Finance at the U.S. Department of the Treasury.[6]

Senior Executive

John F. Bovenzi, Deputy to the Chairman and Chief Operating Officer, joined the FDIC in 1981 as a financial economist. He was appointed Deputy to the Chairman and Chief Operating Officer in October 1999.[7]
Steven O. App, Deputy to the Chairman and Chief Financial Officer, prior to joining the FDIC, served as the Deputy CFO at both the U.S. Treasury Department and the Department of Housing and Urban Development (HUD), as well as a Partner at Risk Concepts, Ltd., an international bank consulting firm. He spent the first 12 years of his career at the Federal Reserve Board.[8]
Paul M. Nash, Deputy to the Chairman for External Affairs, prior to joining the FDIC in March 2009, was Executive Director and Counsel at Verizon Wireless from 2001. From 1997 to 2001 he was a legislative assistant to Senator Tim Johnson.[9]
Jesse O. Villarreal, Jr., Chief of Staff, was appointed Chief of Staff in October 2006. Before joining the FDIC he was Director for Critical Infrastructure Protection and Compliance Policy at Treasury. He also previously served as Associate Director for the Office of Cabinet Affairs at the Executive Office of the President.[10]
Roberta K. McInerney, General Counsel (Acting), prior to joining the FDIC, served for 10 years as the Assistant General Counsel Banking & Finance at the Department of [[U.S. Department of the Treasury|Treasury] where she was the principal legal advisor.[11]
Michael E. Bartell, Chief Information Officer and Director, Division of Information Technology, joined the FDIC in October 2002. He spent the first three months at the FDIC managing an IT program assessment conducted by the Deloitte Consulting Group. Before joining the FDIC, Michael E. Bartell served as the CIO at the Securities and Exchange Commission, where he had worked since 1995.[12]
Sandra L. Thompson, Director, Division of Supervision and Consumer Protection, was appointed to her current position in October 2006. She joined the FDIC in 1989 prior to which she was an associate at Goldman Sachs & Co. in New York City.[13]
Arthur J. Murton, Director, Division of Insurance and Research, joined the FDIC in 1986 as a financial economist.[14]
Mitchell L. Glassman, Director, Division of Resolutions & Receiverships, was appointed to his current position in January 1993. He joined the Division of Liquidation of the FDIC in February 1989. Prior to that he was Deputy Regional Director of the Dallas Region and Managing Liquidator for the First National Bank of Midland, Texas.[15]
Arleas Upton Kea, Director, Division of Administration, was appointed to this position in October 1999. She began her legal career as an FDIC staff attorney in 1985.[16]
Bret D. Edwards, Director, Division of Finance, before joining the FDIC in 1989, was a consultant at both KPMG Peat Marwick and a former subsidiary of PricewaterhouseCoopers (Kwasha Lipton) in the New York City area.[17]
Fred Carns, Director, International Affairs, was appointed to his current position in May 2006. He was previously Deputy Director in the FDIC's Division of Insurance and Research and FDIC Corporate University Dean of the School of Insurance.[18]
D. Michael Collins, Director, Office of Diversity & Economic Opportunity, was appointed in May 1999 having held a similar position in the U.S. Air Force.[19]
Eric J. Spitler, Director, Office of Legislative Affairs, was appointed Director of the Office of Legislative Affairs in October 2006. Prior to his appointment he worked in other roles at the FDIC for 15 years.[20]
Andrew S. Gray, Director, Office of Public Affairs
James H. Angel, Jr., Director, Office of Enterprise Risk Management
Thom H. Terwilliger, Chief Learning Officer, before his appointment in May 2007, held positions at several Universities including the National Defense University in Washington, D.C.[21]
Cottrell L. Webster, Ombudsman, has spent his entire professional career with the FDIC. He was the director of the Memphis regional office from 1994 until June 2002, when he was appointed the ombudsman.[22]
Joseph A. Jiampietro, Special Advisor to the Chairman for Markets, before joining the FDIC in March 2009, was Managing Director of the Financial Institutions Group at J.P. Morgan. Prior to joining J.P. Morgan in 2007 he was Managing Director in the Financial Institutions Group of UBS Investment Bank.[23]
Barbara A. Ryan, Deputy to the Vice Chairman, before joining the FDIC in February 2005, was Vice President for Corporate Strategy at Fannie Mae. Prior to her work at Fannie Mae, she was Senior Economist and Vice President at Capital Economics in Washington, D.C., and Economic Advisor to the Chairman of the U.S. International Trade Commission.[24]
Curry Lisa Roy, Deputy to Director
William A. Rowe, III, Deputy to the Director (Comptroller of the Currency), was appointed in 2006. Prior to this role he served as the Executive Assistant to the Senior Deputy Comptroller for Mid-size/Community Bank Supervision from 2002 to 2006 and as the Executive Assistant to the Senior Deputy Comptroller Bank Supervision Operations from 1999 to 2002.[25]
Claude A. Rollin, Deputy to the Director (Office of Thrift Supervision), joined the FDIC in 1986 as an Honors Attorney in the Corporation's Honors Program in Banking Law.[26]
Jon T. Rymer, Inspector General, was sworn in on 5 July 2006. He was previously a Director at KPMG LLP from 1997 to 2004, and prior to that an Executive Vice President of Boatman's Bank Ark and First American National Bank.[27][28]


Revolving Door.jpg This article is part of the Revolving Door project of Spinwatch.




Resources

Notes

  1. ↑ FDIC, FDIC Mission, accessed 30 March 2009.
  2. ↑ FDIC, Board of Directors & Senior Executives, accessed 30 March 2009.
  3. ↑ FDIC, Board of Directors & Senior Executives, accessed 30 March 2009.
  4. ↑ FDIC, Board of Directors & Senior Executives, accessed 30 March 2009.
  5. ↑ FDIC, Board of Directors & Senior Executives, accessed 30 March 2009.
  6. ↑ FDIC, Board of Directors & Senior Executives, accessed 30 March 2009.
  7. ↑ FDIC, "John F. Bovenzi Appointed Deputy to the Chairman, Chief Operating Officer," Press Release 01 October 1999, accessed 21 March 2010.
  8. ↑ FDIC, "Meeting Participant Biographies - March 28, 2007," accessed 31 March 2009.
  9. ↑ FDIC, "FDIC Appoints Paul M. Nash as Deputy to the Chairman for External Affairs," Press Release 16 March 2009, accessed 21 March 2010.
  10. ↑ FDIC, "Jesse O. Villarreal, Jr., Appointed Chief of Staff to FDIC Chairman Sheila Bair," Press Release 25 October 2006, accessed 21 March 2010.
  11. ↑ FDIC, "Advisory Committee on Economic Inclusion (ComE-IN), last updated 27 February 2008, accessed 21 March 2010.
  12. ↑ FDIC, "MICHAEL E. BARTELL NAMED FDIC'S CHIEF INFORMATION OFFICER," 01 December 2003, accessed 21 March 2010.
  13. ↑ FDIC, "Sandra L. Thompson Appointed Director of the Division of Supervision and Consumer Protection; Spoth and Lane to Assume New Responsibilities in DSC Realignment," Press Release 30 October 2006, accessed 21 March 2010.
  14. ↑ FDIC, "ARTHUR J. MURTON TO BE DIRECTOR OF NEW DIVISION OF INSURANCE," Press Release 30 October 1995, accessed 21 March 2010.
  15. ↑ FDIC, Symposium Proceedings of 'Managing the Crisis: The FDIC and RTC Experience,' April 29-30, 1998, p.138, accessed 21 March 2010.
  16. ↑ NASA Wallops Flight Facility, Women of Wallops: ARLEAS UPTON KEA, ESQUIRE, accessed 31 March 2009.
  17. ↑ FDIC, "Bret D. Edwards Appointed Director of FDIC's Division of Finance," Press Release 08 May 2007, accessed 21 March 2010.
  18. ↑ FDIC, "Fred S. Carns Named Director of FDIC's Office of International Affairs," Press Release 12 May 2006, accessed 21 March 2010.
  19. ↑ Seiberg, Jaret, "FDIC's Tanoue Appoints CFO And Fills Four Other Top Posts," The American Banker, 19 May 1999.
  20. ↑ Commercial Lending Litigation News, "Two named to FDIC posts," Vol.19 No.12, 26 October 2006.
  21. ↑ FDIC, "Thom H. Terwilliger Named FDIC's Chief Learning Officer," Press Release 08 May 2007, accessed 21 March 2010.
  22. ↑ Potkonjak, Marija, "More Say for FDIC Ombudsman?" American Banker, 31 July 2002.
  23. ↑ FDIC, "FDIC Appoints Joseph A. Jiampietro as Senior Advisor to the Chairman for Markets," Press Release 24 March 2009, accessed 21 March 2010.
  24. ↑ FDIC, "FDIC Appoints Barbara A. Ryan Associate Director of Division of Insurance and Research," Press Release 22 February 2005, accessed 21 March 2010.
  25. ↑ Comptroller of the Currency, Key Leader Biographies: William A. Rowe, accessed 31 March 2009.
  26. ↑ FDIC, "TWO FDIC VETERANS NAMED AS DEPUTY, SPECIAL ASSISTANT TO FDIC DIRECTOR," Press Release 14 April 1996, accessed 21 March 2010.
  27. ↑ FDIC, The Honorable Jon T. Rymer, Inspector General, Federal Deposit Insurance Corporation, accessed 30 March 2009.
  28. ↑ Who's Who in the World, 25th Edition; Who's Who in America, 61st, 62nd Editions, accessed via Lexis Nexis, 30 March 2009.
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