FOR IMMEDIATE RELEASE
April 2, 2008
Contact: Robert M. Garsson
OCC Names Delora Jee Head of New International Supervision Group; L. Brosnan Rejoins OCC as Large Bank Deputy Comptroller
WASHINGTON — The Office of the Comptroller of the Currency announced today the creation of a new group to focus on international supervision and named Deputy Comptroller Delora Jee to head the group.
"International banking issues have grown increasingly important to the OCC and the national banking system, and I felt strongly that we needed to create a new group to focus on our supervisory work in this area," said Comptroller of the Currency John C. Dugan.
Mr. Dugan noted that the OCC's core supervisory work has had an expanded international emphasis in recent years. The foreign activities of U.S. banks have grown increasingly important, he said, and recent financial events have reinforced the importance of building and maintaining open lines of communication and strong working relationships with foreign supervisors and official international organizations.
In her previous position, Ms. Jee was responsible for the line supervision of a group of large banks, including several U.S. banks owned by large foreign banking organizations. "Delora brings strong supervisory skills and key international experience to this new position, having served in our London office for several years," Mr. Dugan said. "Given her line responsibilities for supervision both of U.S. activities of large foreign banks and foreign activities of large U.S. banks, she is uniquely suited to enhancing our international activities across the board."
Michael L. Brosnan will succeed Ms. Jee as a Deputy Comptroller for Large Bank Supervision with responsibility for the line supervision of a group of large banks. Mr. Brosnan is an OCC veteran who left the agency in 2004 to work in the private sector, first for MNBA and then for Bank of America. Among his previous positions at the OCC, Mr. Brosnan served as Deputy Comptroller for Risk Evaluation.
"I'm glad to welcome Mike back to the OCC," Mr. Dugan said. "His background in risk management and large bank supervision, and his experience in the private sector will make him an invaluable addition to the large bank group."
Ms. Jee and Mr. Brosnan will assume their new positions April 7.
In her new role, Ms. Jee will be responsible for consolidating, coordinating, and in some cases extending, key international supervisory activities of the OCC, Mr. Dugan said, including responsibility for key elements of the agency's Federal Branches and Agencies Program, which is currently conducted by Midsize/Community Bank Supervision's Northeastern District. The International Bank Supervision (IBS) group also will enhance the OCC's supervision of international banking activities through tighter integration with Large Bank Supervision, which currently supervises institutions that conduct business across a broad range of countries.
In addition, IBS will serve as the primary point of contact for international banking supervisors, and as a clearing house for various requests the agency receives, such as for supervisory information, bilateral meetings, and participation in international working groups.
IBS will also maintain a high degree of collaboration with other OCC divisions, since legal, economics, policy, and examination staff from throughout the agency will continue to play active roles in the international activities of the OCC. The core elements of international economic analysis will remain in the agency's Global Banking and Financial Analysis unit under Deputy Comptroller Nancy Wentzler, Mr. Dugan said.
Ms. Jee joined the OCC as an examiner in 1978, and was named Deputy Comptroller for Large Banks in 1997. She previously served as Examiner in Charge of Chase Manhattan Bank and head of the OCC's London office, where she was responsible for supervising the overseas activities of U.S. multinational banks.
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