ROBERT W. RUSSELL NAMED DIRECTOR
OF FDIC'S OFFICE OF POLICY DEVELOPMENT
FOR IMMEDIATE RELEASE PR-40-97 (6-3-97)
Media Contact: Robert M. Garsson (202-898-6993)
Robert W. Russell has been selected by the Board of
Directors of the Federal Deposit Insurance Corporation to be the
Director of the Office of Policy Development (OPD).
As OPD director, Mr. Russell will coordinate policy
development among all FDIC divisions and offices, evaluate the
policy implications of regulatory and legislative proposals
affecting the FDIC, and formulate corporate positions on emerging
policy issues that could impact the FDIC. He succeeds Sharon
Powers Sivertsen who is leaving the FDIC later this month to
spend more time with her family.
In announcing the appointment, Chairman Andrew C. Hove, Jr.
said, "Bob's in-depth knowledge of the FDIC's operations,
combined with his legal skills, will serve him well in this
important position. I am delighted he has agreed to accept this
Mr. Russell has been Special Assistant to the Chairman since
March of 1996. He joined the FDIC in 1989 and served as Senior
Counsel in the Financial Crimes Unit of the Legal Division's
Professional Liability Section. Before joining the FDIC, Mr.
Russell was Special Counsel at the Federal Home Loan Bank Board;
Assistant Director, Division of Enforcement at the Commodity
Futures Trading Commission; and Senior Trial Attorney at the
Federal Trade Commission.
Mr. Russell is a graduate of the University of New Hampshire
and Boston College Law School. He and his wife, Marcia, have a
son, Ty, and a daughter, Alison.
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Congress created the Federal Deposit Insurance Corporation in
1933 to restore public confidence in the nation's banking system.
The FDIC insures deposits at the nation's 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.
For more information about the FDIC, including access to press
releases, financial institution letters and other documents,
visit our website at www.fdic.gov.