FDIC Chairman Ricki Helfer has announced the appointment of
Paul L. Sachtleben as Director of the Division of Finance in
Washington. Agency Ombudsman Carmen J. Sullivan will replace Mr.
Sachtleben as Director of the Division of Compliance and Consumer
In announcing the appointments, Chairman Helfer said: "We are
delighted that Paul Sachtleben and Carmen Sullivan have agreed to
serve the FDIC in important new jobs. Paul Sachtleben brings a
strong management, finance, and accounting background plus an
indepth knowledge of the FDIC's operations, both here in Washington
and in the field, to the finance division. Carmen Sullivan's
strong management skills and broad service experience in various
FDIC positions will serve her well as head of the consumer affairs
Mr. Sachtleben replaces Steven A. Seelig, who will join the
Division of Research and Statistics as Deputy Director for Special
Mr. Sachtleben has served as Director of the Division of
Compliance and Consumer Affairs since 1994. His FDIC career began
in 1969 as a bank examiner in the Division of Supervision (DOS).
Over the next 18 years, he served in a variety of managerial
positions with DOS in Washington and the field. A certified public
accountant, he was the Dallas Region's Deputy Regional Director for
Supervision when he left the Corporation in 1987 to serve as a
consultant to financial institutions. Three years later, he became
the Resolution Trust Corporation's (RTC) first Chief Financial
Officer and Director of the Office of Corporate Finance. In 1991,
he rejoined the FDIC as Deputy Director of its new Division of
Resolutions, where he served until becoming Director of DCA.
FDIC veteran Carmen Sullivan was appointed the FDIC's first
Ombudsman in 1995. As DCA Director, she will oversee the agency's
efforts to be more responsive to consumers and bankers, and to
streamline FDIC's endeavors to ensure bank compliance with consumer
protection and fair lending laws as well as the Community
Ms. Sullivan joined the FDIC as a bank examiner with DOS in
1970. She held a number of positions within DOS, including
consumer affairs specialist and Acting Director of the Office of
Consumer Affairs and Civil Rights. In 1984, she became the
Division of Depositor and Asset Services' (DAS) Regional Director
in Kansas City. She joined the RTC in 1989 and served as Vice
President of the Dallas Region, then returned to the FDIC in 1992
as Director of the Division of Information Resources Management, a
post she held until being named the agency's Ombudsman.
Replacing Ms. Sullivan as Acting Ombudsman will be Leslie R.
Crawford, recently selected as Deputy Ombudsman. He will serve in
the position until the FDIC Board of Directors appoints a new
Ombudsman from applicants internal to the FDIC.
Congress created the Federal Deposit Insurance Corporation in 1933
to maintain public confidence in the nation's banking system. The
FDIC insures deposits at the nation's 12,000 banks and savings
associations and it promotes the safety and soundness of these
institutions by identifying, monitoring and addressing risks to
which they are exposed.