MICHAEL J. ZAMORSKI NAMED FDIC DIRECTOR OF DIVISION OF SUPERVISION
FOR IMMEDIATE RELEASE PR-91-2001 (12-11-2001)
Media Contact: Rosemary George (202) 898-6530
FDIC Chairman Donald E. Powell announced today that veteran FDIC official Michael J. Zamorski has been named Director of the Division of Supervision. In this position, he is responsible for overseeing the FDIC's bank supervisory activities and eight Regional Offices. The appointment is effective immediately.
"Mike Zamorski brings a wealth of experience, knowledge, and energy to this key position," said Chairman Powell. "With nearly 25 years of examination experience, Mike has obviously seen a lot and done a lot. I can think of no one better suited for this position than Mike Zamorski."
Zamorski's FDIC career dates back to 1977, when he joined the agency as an assistant bank examiner trainee in the Philadelphia Region. He became a commissioned examiner in 1981. Subsequent assignments took him to Kansas City, Washington and Dallas. He was one of four managers selected for the FDIC's Executive Selection and Development Program in 1985. As Assistant Regional Director in Dallas, beginning in 1986, Mr. Zamorski oversaw examination activity for numerous troubled banks in Texas.
Zamorski was Regional Director of the FDIC's New York Regional Office when he was named in 1996 to the newly created post of Deputy Director of the Division of Supervision at FDIC headquarters in Washington, D.C. He has been Acting Director of the Division of Supervision since October 2000.
A native of Wayne, Pennsylvania, Zamorski holds a B.S. degree in Economics (conferred cum laude) from Villanova University, Villanova, Pennsylvania. He is a graduate of The Stonier Graduate School of Banking at Rutgers University. He currently serves as a voting member of the Basel Committee on Banking Supervision and the FFIEC Task Force on Supervision.
Zamorski , his wife Cindy, and their four children live in Herndon, Virginia.
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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 9,747 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. The FDIC receives no federal tax dollars -- insured financial institutions fund its operations.
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