Bair appoints first chief risk officer for FDIC
On her last day as Federal Deposit Insurance Corp. chairman, Sheila Bair appointed Stephen Quick as the regulator's first chief risk officer. Quick will take the position Aug. 15. Since 2000, he served as director of the office of evaluation and oversight at the Inter-American Development Bank, a $100 billion financial institution. "I'm very pleased to have established the position of chief risk officer at the FDIC and to announce the selection of Stephen for the position," Bair, who will leave her position Friday and join the Pew Charitable Trust as a senior adviser, said. "His depth of experience in both the finance and policy fields will benefit the FDIC as it formalizes and expands its corporate-wide risk management program." Quick has also served as the executive director of the Joint Economic Committee of Congress and was the chief economist to the House committee on banking, finance and urban affairs. The FDIC is not the first government agency to add a chief risk officer post-crisis. The Federal Housing Administration established the office in October 2009 and appointed the now acting director Bob Ryan to the position. Write to Jon Prior. Follow him on Twitter @JonAPrior.