Sheila Bair leaves FDIC, moves to Pew Charitable Trust
Chairman of the Federal Deposit Insurance Corp. Sheila Bair is leaving her post Friday to join Pew Charitable Trust as a senior adviser. And, according to a recent interview with Institutional Risk Analytics, Bair said she will work closely within the housing industry. Bair has served as chairman of the FDIC since June 2006. "It is with great pride that I leave the FDIC after the completion of my five-year term. It has been a remarkable journey," Bair said in a statement from the FDIC. "I feel honored to have served two presidents and privileged to have led this great agency that worked so effectively to preserve confidence and stability in the banking system at a critical time." Vice Chairman Martin Gruenberg will assume the role of acting chairman effective as of the close of business Friday. Gruenberg has served as vice chairman of the FDIC board of directors since August 2005. Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.