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Regulatory Recruiting

Recent executive activity at financial regulators

Aug. 24, 2010


Federal banking regulators have been busy accepting resignations and recruiting replacements.

At the Federal Deposit Insurance Corp., Joseph A, Jiampietro ended his 17-month tenure as senior advisor for markets on Aug. 13, a news release said. FDIC Chairman Sheila Bair said Jiampietro's input helped provide stability to the banking industry during a challenging time and called his contributions "invaluable."

Jiampietro's resume' includes managing director of the financial institutions group at J.P. Morgan and, before that, UBS Investment Bank.

A few days later, the FDIC announced the Aug. 13 resignation of general counsel Michael Bradfield. In the statement, Bair also praised Bradfield -- who before the FDIC was a partner at Jones Day. He also served as counsel to former Federal Reserve Board chairman Paul Volcker, counsel to former Fed chairman Alan Greenspan and general counsel of the Federal Reserve Board.

The Fed last month announced the designation of the chairs and deputy chairs of the twelve Federal Reserve Banks for 2011. Each bank has a nine-member board of directors, with three appointed by the board of governors in Washington, D.C.

Also last month, the Fed announced that it is seeking seeking nominations for appointments to its Consumer Advisory Council. Up to 10 members will be appointed for three-year terms beginning in January 2011. The council advises the board on the exercise of its responsibilities under various consumer financial services laws and on other matters.

Carolyn DuChene was appointed deputy comptroller for operational risk policy, the Office of the Comptroller of the Currency announced last month. She is replacing Mark O'Dell, who retires next month. DuChene was promoted from assistant deputy comptroller in the OCC Cleveland field office and originally joined the regulator in 1984.

This month, the OCC disclosed that Ted Wartell was appointed director of community affairs policy and will report to Deputy Comptroller for Community Affairs Barry Wides. His previous job was chief of staff for community lending at Fannie Mae, and prior to that he served as director of the office of policy at the U.S. Small Business Administration.

Also this month, the OCC announced the selection of Karen Solomon as deputy chief counsel, replacing Jeff Gillespie who retires later this year. Reporting to Chief Counsel Julie Williams, the 15-year employee will oversee three divisions in the law department: legislative and regulatory activities, bank activities and structure, and securities and corporate practices.

At the National Credit Union Administration, John D. Worth, Ph.D., was selected as director, office of the chief economist, a press release said. He started his new gig on July 26 and is responsible for "monitoring
international, national, and regional economic and financial market developments and trends."

Worth most recently served as manager for policy research at Fannie Mae's and Freddie Mac's regulator, the Federal Housing Finance Agency. Before that he worked at the U.S. Department of the Treasury for a decade.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

[email protected]

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