For Release

WASHINGTON — The Special Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors established to oversee an independent third–party review of the agency’s workplace culture issued the following statement today:

“The Special Committee has appointed the law firm of Cleary Gottlieb Steen & Hamilton LLP to conduct an independent review into allegations of sexual harassment and interpersonal misconduct, as well as issues relating to the workplace culture at the FDIC. The team at Cleary Gottlieb will be led by Joon H. Kim, the former Acting U.S. Attorney for the Southern District of New York, Jennifer Kennedy Park, and Abena Mainoo.

“This team at Cleary Gottlieb has conducted numerous investigations into workplace misconduct and hostile work culture, including being appointed by the New York State Attorney General’s Office to conduct an independent investigation into allegations of sexual harassment and other related misconduct involving the former New York Governor Andrew Cuomo and the New York State Executive Chamber.”

“The Special Committee is committed to an independent and thorough review,” said committee co–chair Michael J. Hsu. “There is no question that the Cleary Gottlieb team has both the experience and the expertise to lead this review.”

Background

The FDIC Board of Directors has established a Special Committee to provide direction to and oversee an independent third–party review of allegations of sexual harassment and interpersonal misconduct at the FDIC, including allegations of hostile, abusive, unprofessional, or inappropriate conduct, and management’s response to that harassment and misconduct. The independent review will also assess the FDIC’s workplace culture, including any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct. The Cleary Gottlieb team will conduct this independent review under the direction and oversight of the Special Committee.

How to Share Your Experience

The Special Committee encourages both past and current FDIC employees who witnessed or experienced any sexual harassment or hostile, abusive, unprofessional, inappropriate or other interpersonal misconduct at the FDIC to share their experiences with the Cleary Gottlieb team.

*Cleary Gottlieb has established a form available at https://www.fdicinvestigation.com/ , which anyone may use to share information relevant to the independent review. Reports can be left anonymously.

The Special Committee recognizes it can be difficult for some to share their stories and appreciate and support those who have chosen to do so. For those individuals who leave contact information, Cleary Gottlieb endeavors to respond within 48 hours to those who have provided contact information.

To facilitate cooperation with the independent review and investigations by the FDIC’s Office of Inspector General (OIG) and Congress, the FDIC previously waived any confidentiality restriction currently in place that would otherwise preclude an individual from disclosing allegations of harassment or interpersonal misconduct to, or discussing FDIC’s management response to that harassment or misconduct or FDIC’s workplace culture with, Cleary Gottlieb, investigators with the FDIC’s OIG, or any Congressional committee or subcommittee. This waiver extends to (i) confidentiality restrictions that may have been agreed to between an individual and the FDIC as part of a settlement or similar agreement and (ii) any instruction to preserve the confidentiality of topics covered in an interview with the FDIC conducted as part of an administrative investigation. Accordingly, for example, an individual is free to share documentation or other information related to harassment, interpersonal misconduct, or the FDIC’s workplace culture with Cleary Gottlieb, even if covered by a nondisclosure agreement with the FDIC.

The Special Committee seeks to complete its independent review in the second quarter of 2024.

About the Cleary Gottlieb Investigative Team

Joon H. Kim is a partner at Cleary Gottlieb Steen & Hamilton LLP, focusing on internal investigations, as well as criminal and regulatory enforcement. Mr. Kim has enjoyed a distinguished career over two decades at the highest levels of government and in private practice at Cleary Gottlieb, personally trying over a dozen federal jury trials and actively participating in dozens more.

From March 2017 to January 2018, he served as the Acting U.S. Attorney for the Southern District of New York. As the most senior federal law enforcement officer in the District, he oversaw all criminal and civil litigation conducted on behalf of the United States and supervised the work of approximately 220 assistant U.S. attorneys handling a wide range of cases, including public corruption, fraud, cybercrime, money laundering, cryptocurrency, tax litigation, terrorism, racketeering, Bank Secrecy Act and sanctions violations, and theft of trade secrets and economic espionage, as well as civil rights, civil enforcement, and environmental matters. Before becoming Acting U.S. Attorney, Mr. Kim served in various leadership positions in the office, including deputy U.S. attorney, chief of the Criminal Division, and chief counsel to the U.S. attorney.

Mr. Kim is a Phi Beta Kappa graduate of Stanford University and a cum laude graduate of Harvard Law School. Following law school, he clerked for the Honorable Miriam Goldman Cedarbaum in the United States District Court for the Southern District of New York.

Jennifer Kennedy Park is a partner at Cleary Gottlieb Steen & Hamilton LLP, focusing on complex disputes, white–collar defense, and enforcement actions. She has handled some of the most complicated matters in the last five years. In the wake of the #MeToo movement, she has routinely been called upon to investigate and advise on issues of discrimination and harassment. She is the lead author of the firm’s Global Crisis Management Handbook.

Ms. Kennedy Park is an Honors graduate of Boston College and a magna cum laude graduate of Georgetown University Law Center. Following law school, she clerked for the Honorable Linda Kay Davis in the District of Columbia Superior Court.

Abena Mainoo is a partner at Cleary Gottlieb Steen & Hamilton LLP, focusing on internal investigations, enforcement actions, and parallel litigation. She regularly handles sensitive investigations involving allegations made against management and advises clients on compliance programs.

Ms. Mainoo is a Phi Beta Kappa graduate of Swarthmore College and a cum laude graduate of Harvard Law School.