Former New York Banking Superintendent Richard Neiman Named to Key Leadership Role in PwC’s Global Regulatory Advisory Practice
NEW YORK, June 7, 2011 /PRNewswire/ — Richard H. Neiman has been named to the dual role of chairman of PwC’s foreign bank regulatory practice and vice chairman of its global regulatory practice. Neiman, who recently stepped down as Superintendent of Banks for the State of New York and as a member of the panel overseeing the implementation of TARP and other federal programs, is a highly respected veteran of the financial services industry who has extensive experience as a banking executive, regulator and consultant.
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In his new role, Mr. Neiman will oversee PwC’s regulatory practice, in particular helping it to assist clients in dealing with implementation of new laws and regulations such as the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III accords as well as other regulatory initiatives underway, both in the U.S. and globally.
“Richard Neiman is among the most respected leaders in the financial services industry, having held senior roles as a regulator, banking executive and attorney. We look forward to his helping us to provide guidance to our clients on matters of corporate governance, regulatory compliance and risk management, particularly given the wide range of new regulations currently being adopted in the U.S. and around the world,” said Dan Ryan, partner and chairman of PwC US’s financial services regulatory practice. “We are especially pleased that Richard, who served as Director of Regulatory Advisory Services for Price Waterhouse in the 1990s, is, in effect, coming home.”
Mr. Neiman served as the 43rd Superintendent of Banks for the State of New York from 2007 until May 2011. In that capacity, he was responsible for the supervision of all state-chartered depository institutions, including the majority of U.S. branches and agencies of foreign banks. He also oversaw the supervision of thousands of non-depository institutions operating in New York, including mortgage bankers and brokers, check cashers, money transmitters and other providers of consumer financial services.
While serving as New York’s chief banking regulator, Mr. Neiman was appointed by U.S. House of Representatives Speaker Nancy Pelosi in November 2008 as one of five members of a Congressional Oversight Panel created to oversee the implementation of the Emergency Economic Stabilization Act, including the Troubled Asset Relief Program (TARP). The panel provided regular updates to Congress and the public on the effectiveness of the Treasury Department’s implementation of the TARP and related programs.
Previously, Mr. Neiman served as chairman, president and chief executive officer of TD Bank USA, a national bank based in New York with $15 billion in assets. TD Bank USA is a wholly-owned subsidiary of The Toronto-Dominion Bank, and provides banking and cash management services to its affiliated broker/dealer, TD Ameritrade. Mr. Neiman had joined TD Waterhouse Group in 1994, initially serving as Executive Vice President and General Counsel and overseeing all legal, regulatory and compliance matters.
Earlier, Mr. Neiman had served as Director of Regulatory Advisory Services for what was then Price Waterhouse LLP, leading a specialized consulting group composed mainly of former bank regulators, regulatory attorneys and banking executives that advised U.S. and foreign financial institutions on a range of legal and regulatory matters. Mr. Neiman had formerly served in several positions within Citicorp’s investment bank, including General Counsel of the Global Equities Group. He began his career in the Office of the Comptroller of the Currency, serving initially as a staff attorney and then as Special Assistant to the Chief Counsel.
Mr. Neiman holds a B.A. degree from American University’s School of Government and Public Administration and a J.D. degree from the Emory University School of Law.
Mr. Neiman is active in professional circles, serving recently as chairman of the Foreign Bank Regulatory Committee of the Conference of State Bank Supervisors. He also serves on the boards of such community organizations as the Chinese Business Initiative Advisory Board of the Columbia Business School; the Harlem Educational Activities Fund; and the Henry Street Settlement.
In 2010, Mr. Neiman received the Foreign Policy Association’s Medal for Public Service, a distinguished honor that recently has been awarded to Treasury Secretary Timothy Geithner and New York City Mayor Michael Bloomberg. In 2009, he received the Distinguished Public Service Award from the Rockefeller College of Public Affairs and Policy.
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SOURCE PwC