FDIC ANNOUNCES NEW DUTIES FOR STAFF MEMBERS- HARRISON YOUNG, ROGER A. HOOD AND ROBERT H. HARTHEIMER
FOR IMMEDIATE RELEASE
FDIC Chairman Andrew C. Hove, Jr., today announced the appointment
of agency official Harrison Young to the position of Acting Chief
Operating Officer and one of two Deputies to the Chairman.
Roger A. Hood, a 35-year veteran of the FDIC who currently is Chief
Operating Officer and Deputy to the Chairman, will concentrate
solely on serving as a Deputy to Hove.Mr. Young has been Director
of the FDIC's Division of Resolutions (DOR) since it was
established in March 1991 to centralize the agency staff that
handle failing institutions.
Robert H. Hartheimer, a Deputy Director of DOR and a staff member
since October 1991, will become Acting Director of the Division.-
Chairman Hove explained that the staff changes were brought about
because Hood asked to shed some of his dual responsibilities. "The
Chief Operating Officer is a demanding position for an agency of
the size and importance of the FDIC," Chairman Hove said. "I
respect Rod Hood's wishes to cut back on some of the management
load he has been carrying, and I am very pleased that he will
continue to provide me and the rest of the FDIC with careful
analysis and wise counsel on a broad range of topics."
The Chief Operating Officer position was created at the FDIC in
October 1993 after President Clinton asked all federal departments
and agencies to designate one executive who would be responsible
for planning, coordinating, evaluating and improving programs and
resource management. Hood was named the FDIC's first Chief
Operating Officer at that time, in addition to his service as
Deputy to Hove since June of 1992.
Chairman Hove added: "I also am thankful that Harrison Young has
agreed to accept his broad new responsibilities, because we
continue to face enormous challenges in terms of agency-wide policy
development and resource management."
Young's primary focus will be the process by which the FDIC
identifies issues, allocates resources to address those issues, and
provides complete and timely guidance to the Chairman and the Board
of Directors. He also will preside over the FDIC's Policy Advisory
Committee, which provides the agency's leadership with a forum for
early discussion of significant issues.
"It also is a bonus to have someone of Bob Hartheimer's skills and
expertise to turn to at this time," Hove said. "Despite the fact
that the number and cost of bank failures have declined
significantly in recent years, the Division of Resolutions
continues to have important responsibilities in many areas,
including the oversight of assistance agreements that either the
FDIC or the former Federal Savings and Loan Insurance Corporation
had entered into with acquirers of failed institutions.
"The staff changes are scheduled to take effect on June 1.
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(Brief biographical sketches are attached)
May 25, 1994
Harrison Young has been named the new Chief Operating Officer and
a Deputy to the Chairman. Young joined the FDIC in March of 1991
as Director of the Division of Resolutions upon its formation.
Prior to joining the FDIC, Young was a Managing Director and Head
of the Financial Institutions Group at Dean Witter Reynolds
Inc., New York, New York.
From 1986 to 1989, Young was a Managing Director at Prudential
Securities, Inc., New York, New York, where he was head of the Bank
and Mortgage Finance Group. Prior to that, he was a Principal at
Morgan Stanley & Co., Inc., New York, New York, where he worked
from 1975 to 1986.
Young's banking career began in 1971 when he became a corporate
lending officer at Citibank.Young received his A.B. cum laude from
Harvard in 1966, and worked as a reporter for The Washington Post.
He was subsequently a captain in the U.S. Army Special Forces, and
served overseas in Okinawa and Vietnam. Young and his wife, Kirsty
Hamilton, reside in Washington, DC.
Roger A. Hood, currently both the Chief Operating Officer and
Deputy to Chairman Andrew C. Hove, Jr., will continue in the
position of Deputy to Hove.
Hood joined the FDIC in 1959 as an attorney in the litigation and
liquidation section. From 1969 to 1992, He was Assistant Gene ral
Counsel and chief of the regulation and legislation section. He
has served as Deputy to Hove since June of 1992, first in Hove's
capacity as Vice Chairman and, since September of 1993, in Hove's
role as Acting Chairman. In November of 1993, the FDIC Board of
Directors appointed Hood to the newly created position of Chief
Operating Officer, in addition to his duties as Deputy to Hove.A
native of Philadelphia, Pennsylvania, Hood is a graduate of the
University of North Carolina at Chapel Hill, where he received both
his A.B. and J.D. Degrees. He and his wife, Katharine, live in
Annandale, VA. They have a daughter and a son.
Robert H. Hartheimer has been named Acting Director of the Division
of Resolutions. He joined the FDIC in October 1991 as the
Division's Associate Director for Transactions and, in November
1992, was promoted to Deputy Director for Transactions and
Prior to joining the FDIC and since 1986, Hartheimer was a Vice
President at Smith Barney, Harris Upham & Co., Inc., where he was
a senior member of the division providing corporate and asset
finance services to financial institutions. In 1982, upon
graduation from business school, Hartheimer joined A.G. Becker and
specialized in corporate finance activities for financial
In 1984, A.G. Becker was acquired by Merrill Lynch & Co., and
Hartheimer continued with bank and thrift corporate finance work as
an officer in Merrill Lynch's Investment Banking Division until
1986.Hartheimer received an A.B. degree in 1979 from Hamilton
College, where he majored in geology. In 1982, he graduated from
The Wharton School of the University of Pennsylvania with an M.B.A.
Hartheimer is married to Nancy Golding. They reside in Washington,
DC, with their two sons, Adam and Jesse.