U.S. Fed Hires Former Insurance Regulator To Help Oversee AIG, Prudential

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U.S. Fed Hires Former Insurance Regulator To Help Oversee AIG, Prudential

by Wochit 0:47 mins

U.S. Fed Hires Former Insurance Regulator To Help Oversee AIG, Prudential

by Wochit 0:47 mins

The Federal Reserve has hired a former state insurance commissioner to help it oversee non-bank financial firms that a council of regulators identified for tougher scrutiny last year. Thomas Sullivan, who led the Connecticut Insurance Department from 2007 through 2010 and later worked at PricewaterhouseCoopers, starts as a senior adviser on June 9. Sullivan will help fill a critical expertise gap at the Fed, which has more experience regulating Wall Street banks and less of a track record with major insurers and other non-bank financial firms. Sullivan said, "I'm excited and anxious to start next Monday,"

Wochit

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