FOR IMMEDIATE RELEASE
January 30, 2013
Contact: Bryan Hubbard
Martin Pfinsgraff Named Acting Head of Large Bank Supervision
WASHINGTON — The Office of the Comptroller of the Currency announced today that Martin Pfinsgraff would become acting Senior Deputy Comptroller for Large Bank Supervision, succeeding Michael L. Brosnan who will become Examiner-in-Charge of Zions Bank.
Comptroller of the Currency Thomas J. Curry said he had initially been surprised by Mr. Brosnan’s decision to seek a new assignment, but understood why he had made the request.
“Mike rejoined the OCC in 2008, in the darkest days of the financial crisis, and served with distinction, first as Deputy Comptroller and then as Senior Deputy Comptroller for Large Bank Supervision,” said Mr. Curry. “He worked long days, grappled with the toughest decisions that confronted bank supervisors anywhere in the world, and contributed greatly to the healing of the industry.
“Now that we are moving beyond the crisis, I can understand why Mike was interested in moving into a new position,” Mr. Curry added, “but I was very concerned about finding someone of Mike’s caliber to replace him. I was pleased that Marty Pfinsgraff agreed to take on these new responsibilities.”
Mr. Pfinsgraff, a Deputy Comptroller for Credit and Market Risk, joined the OCC from iJet International, a worldwide risk management company, where he was Chief Operating Officer. Previously, he served as Treasurer of Prudential Insurance Company and as Managing Director of Prudential Investment Corporation.
“Marty has deep experience in the kinds of complex risk management issues that are so important to large bank supervision these days,” Mr. Curry said.
Mr. Curry said he had been surprised at Mr. Brosnan’s request for a new assignment, but was pleased that he wanted to stay at the OCC.
“Since taking office as Comptroller, I have been extremely impressed with the dedication of OCC employees and the loyalty they feel for the agency,” the Comptroller said. “I think it speaks volumes about the OCC’s culture and traditions that we are able to attract and retain senior executives of the caliber of Marty and Mike.”
Mr. Brosnan rejoined the OCC in 2008 from Bank of America, where he served as the Enterprise Operational Risk Executive. He also served as the Risk Manager for the Global Technology and Operations, Chief Administrative Office, and Supplier Risk Management organizations of the bank. Mr. Brosnan previously served as Compliance Executive for Bank of America Card Services, and he oversaw the Operational Risk Management Division of MBNA America.
Before joining MBNA (which subsequently was acquired by Bank of America) in 2004, Mr. Brosnan spent 21 years with the OCC. In 2003, he was named Senior National Bank Examiner, the highest honor and designation available to bank examiners.
In previous roles at the OCC, Mr. Brosnan served as Deputy Comptroller for Risk Evaluation and as Director of Treasury and Market Risk. He also served as Chairman of the OCC's National Risk Committee and the OCC's Steering Committee representative on the President's Working Group for Financial Markets. He first joined the OCC in 1983 in Miami, and was commissioned as a National Bank Examiner in 1986.
The OCC also announced that Darrin Benhart, one of the two Deputy Comptrollers in the Credit and Market Risk Group, would assume full responsibility for the entire group on an acting basis. Mr. Benhart had been responsible for emerging systemic risks facing the banking system. He oversaw and set policies for the Commercial and Retail Credit Policy units and Credit and Market Risk, while Mr. Pfinsgraff had managed and directed the OCC’s market risk activities, the capital markets information gathering activities, and credit and market risk policy formulation.
These changes will take effect over the next month.
# # #