CHAIN BRIDGE PARTNERS - Key Persons
Prior to joining the firm, Mr. Hoyer was a 25-year employee of the FDIC, most recently serving as the Deputy Director of Risk Management Supervision's Complex Financial Institution Group. Mr. Hoyer was responsible for overseeing both supervisory and resolution planning authorities for the largest systemically important financial institutions and non-bank financial companies.
Mr. Hoyer was a key architect of the FDIC's resolution plan assessment framework and review process for both Dodd Frank Act and Federal Deposit Insurance Corporation Act requirements. He advised senior inter-agency officials and Board members on resolution planning, and met with and advised Congressional members on industry and policy matters. In addition to advising senior inter-agency officials on resolution plan issues, Mr. Hoyer led the FDIC's efforts in the development of industry feedback through firm specific letters and guidance to the largest domestic and foreign banking organizations.
In addition to resolution planning, Mr. Hoyer oversaw multiple business lines responsible for analyzing structured and unstructured data, monitoring supervisory risks through on-site dedicated personnel at the nation's largest financial institutions, and conducting supervisory examinations. Mr. Hoyer supported critical interagency programs such as capital and liquidity stress testing, shared national credit reviews, and governance, enterprise risk management, and corporate culture related reviews. He has recent and extensive experience working with the senior-most supervisory officials at all three Federal banking agencies.
Prior to joining the FDIC, Mr. Hoyer worked in a family owned and operated community bank where he held both lending and operational positions.
Mr. Hoyer holds a Bachelor of Science degree in Accounting from Missouri Southern State University, and a Graduate Degree in Banking from the University of Wisconsin.
Prior to joining the firm, Mr. Jennings was a Senior Associate Director in the Federal Reserve Board's Division of Supervision and Regulation (S&R). In that capacity, he was the senior officer with direct oversight of supervision programs for several banking portfolios, including Large and Foreign Banking Organizations (non-GSIBs w/assets > $50B), Regional Banking Organizations (assets $10-$50B), Community Banking Organizations (assets < $10B), Foreign Banking Organizations (assets < $50B), and Savings and Loan Holding Companies. He oversaw a Washington staff of approximately 65 analysts responsible for analyzing banking conditions, evaluating and improving supervisory approaches, and contributing directly to regulatory policy development.
Mr. Jennings was a member of the S&R Senior Leadership Team which provided oversight to all aspects of Federal Reserve supervisory operations. His numerous executive responsibilities included serving as a key member of the S&R Policy Development and the Cybersecurity Executive Oversight groups. He also served on the S&R Basel Coordinating Committee responsible for the Federal Reserve's implementation of the Basel capital regimes. Mr. Jennings was a key advisor to the Board and the Supervision Committee on significant policy initiatives that affected the conduct of supervision in all of his portfolios, including implementation of the enhanced prudential standards under Regulation YY for large and foreign banks and corporate governance matters.
Mr. Jennings also served the Federal Reserve in a number of international capacities, most recently as a member of the Basel Committee's Supervisory Implementation Group and as a member of the Board of Directors of the Association of Banking Supervisors of the Americas (ASBA). Since retiring in April 2017, he has served as a Short-Term Expert to the International Monetary Fund on banking supervision.
Mr. Jennings holds a B.A in Economics from the University of Virginia.
Prior to founding the firm, he most recently served as one of the three internal board members at the Federal Deposit Insurance Corporation (FDIC). In that capacity, he worked daily with other board members and senior executives overseeing the agency responsible for the safety and soundness of the nation's banking system and resolving failed institutions. Mr. Norton analyzed, promulgated, and approved bank regulations mandated by the Dodd-Frank Act and rules from the Basel Committee. Additionally, he approved the agency's annual budget, large contracts, and major personnel actions. Mr. Norton also served as the Chair of the FDIC's Case Review Committee, which is responsible for enforcement actions against individuals and banks for violations of safety and soundness, consumer protections and anti-money laundering rules. In conjunction with his service at the FDIC, Norton served as one of the five board members at NeighborWorks America, which is a corporation funded by the Congress to promote affordable housing opportunities.
Prior to his service at the FDIC, Norton worked in investment banking at J.P. Morgan Securities in New York. In that role, he advised financial institutions on mergers, acquisitions, and equity and debt offerings.
From 2007 to 2009, Mr. Norton served in the U.S. Treasury Department as the Deputy Assistant Secretary for Financial Institutions Policy under Secretary Henry M. Paulson. Norton played a key role in the financial crisis response while at the Treasury, including work on the conservatorships of Fannie Mae and Freddie Mac, the government financed recapitalization of the U.S. banking sector, and assistance packages for the automotive industry.
Earlier in his career, Norton served on the professional staff for U.S. Representative Edward R. Royce, where he was a chief advisor on financial services. Norton began his career in investment banking at J.P. Morgan Securities.
He holds an A.B. in economics from Duke University and a J.D. from the Georgetown University Law Center.
Prior to joining the firm, Mr. Simpson had almost 30 years of regulatory experience with the Federal Reserve, FDIC, and OTS. Most recently, Mr. Simpson served as the Group Vice President of the Risk, Policy, and Analysis group at the Federal Reserve Bank of San Francisco (FRB-SF), overseeing a staff of about 80 examiners, risk specialists, financial analysts, data scientists, and quantitative risk specialists doing in work mainly in the largest, most complex financial institutions in the United States.
In addition to his local role overseeing the FRB-SF's risk function, Mr. Simpson also held national positions in the Federal Reserve System (FRS) on the Large Institution Supervision Coordinating Committee's (LISCC) Operating Committee and the Risk Council. As a member of the LISCC Operating Committee, Mr. Simpson helped set the agenda and oversee implementation of the FRS' supervision of systemically important financial institutions (SIFIs) operating in the United States. Additionally, Mr. Simpson served on the Capital Steering Committee of the LISCC Operating Committee, where he helped set the direction and oversee capital supervision for SIFIs, including the CCAR stress testing program. Mr. Simpson also previously served on the Liquidity Steering Committee of the LISCC Operating Committee, where he oversaw liquidity supervision for SIFIs, including CLAR. Finally, Mr. Simpson served as an Executive Committee member of the FRS' Risk Council, which identified and prioritized risks across institutions of all sizes and co-led the Risk Council's Climate sub-committee.
Mr. Simpson has held numerous positions throughout his long regulatory career, including serving as a Central Point of Contact for a SIFI, a senior large financial institution examiner, senior capital markets specialist, and senior financial analyst. In these positions, Mr. Simpson oversaw and directly led supervisory reviews in capital planning and stress testing; liquidity risk management and stress testing; asset-liability management and investment portfolios; market risk management, trading, and capital markets; residential credit risk and mortgage banking/securitization; and Board effectiveness, independent risk management, and governance. In each of these roles, Mr. Simpson was responsible for coordinating with various state, federal and foreign regulatory agencies.
Mr. Simpson holds a B.S. degree in Economics from Santa Clara University (Magna Cum Laude), is a Chartered Financial Analyst, a certified Financial Risk Manager, and a commissioned FDIC and FRS bank examiner. Mr. Simpson is a member of the CFA Institute, the CFA Society of San Francisco, and the Phi Beta Kappa honor society.
Prior to joining the firm, Mr. Morgan was Chief Operating Officer, Senior Deputy Comptroller, and Chief National Bank Examiner at the Office of the Comptroller of the Currency (OCC). In that capacity, he led, directed, and had responsibility for all supervision related business units, including community and mid-size bank supervision, large bank supervision, bank supervision policy, economics, office of innovation, supervision systems and analytics, and subject matter experts.
In his Chief Operating Officer role, Mr. Morgan was a principal advisor to the Comptroller on domestic and international policy issues, served on the OCC's Executive Committee, chaired the OCC's Technology Committee, and served on a variety of other executive sub-committees. Mr. Morgan was responsible for overseeing formulation of policies and procedures for supervision and for creating and executing supervisory strategies for the entities supervised by the agency. Mr. Morgan also oversaw Supervision Risk Management, which included oversight of the agency's National Risk Committee. Mr. Morgan also served as the agency's Deputy on the Financial Stability Oversight Council Deputies' Committee.
During his 34-year OCC Career, Mr. Morgan held numerous other positions at the OCC including serving as the Senior Deputy Comptroller for Large Bank Supervision, a Deputy Comptroller for Large Bank Supervision, and two Large Bank Examiner-in-Charge positions. The Large Bank Supervision roles provided Mr. Morgan with extensive experience in and understanding of a wide-range of banking activities of the largest, most complex banks, federal branches, and agencies. Mr. Morgan also served in a variety of roles within the OCC's policy and community bank supervision units. Collectively, these roles provided him extensive experience in bank supervisory and enforcement matters spanning most aspects of banking, including credit risk, interest rate risk, liquidity risk, market risk, operational risk, compliance risk, and balance sheet management. Mr. Morgan is also experienced in assessing financial condition, strategic risk, and reputation risk and evaluating remediation efforts.
During his OCC career, Mr. Morgan served in key regulatory roles while significant parts of the banking industry faced difficult challenges related to mutual fund market timing and late trading, municipal derivatives activities, foreign exchange activities, and the credit, liquidity, capital, and earnings issues associated with the 2007-2009 great recession. Additionally, Mr. Morgan played a key regulatory role as the industry dealt with the mortgage foreclosure crisis, which followed the great recession. Mr. Morgan also played key supervisory roles as banks have undergone significant business combinations, dealt with significant operational and cyber events, and experienced significant financial stress.
Mr. Morgan also has extensive experience working with domestic and international financial services regulators and industry groups.
Mr. Morgan holds a B.B.A. from Stephen F. Austin State University, a Chartered Financial Analysis designation, and a National Bank Examiner Commission.
Prior to joining the firm, Mr. Burns was a Director at Deloitte & Touche LLP where he was responsible for leading client engagements and for providing subject matter expertise related to financial sector regulatory matters. He advised financial institutions on recovery and resolution planning, capital and liquidity stress testing, and supervisory expectations for risk management.
Before joining Deloitte, he served in numerous roles with the FDIC over the span of 25 years. His most recent role at the FDIC was as the Deputy Director of the Complex Financial Institutions Group, in which he was the senior executive responsible for risk analysis, supervisory programs, and resolution plan review efforts at systemically important financial institutions (SIFIs). In this role, he directed a comprehensive restructuring of the group, which included over 100 staff with a range of roles, including examiners, analysts, and on-site dedicated staff at the nation's largest banking institutions. Mr. Burns was the FDIC's key executive working on critical interagency programs such as capital stress testing, shared national credit reviews, and resolution plan submission evaluations. He has recent and extensive experience working with the senior-most supervisory officials at all three Federal banking agencies.
Earlier in his career, Mr. Burns played a critical role in the regulatory response to stress at large financial institutions during the crisis period of 2008 and 2009. He served the Agency in many capacities throughout his career, including as Associate Director of the Large Bank Branch, Section Chief of the Office of Complex Financial Institutions Branch, a Senior Bank Examiner, a Senior Financial Analyst, and a Bank Examiner.
Mr. Burns holds a B.S. in Business Administration (Summa Cum Laude) from the University of Arkansas and is an honors graduate from the Stonier School of Banking. He is a Chartered Financial Analyst and certified Financial Risk Manager.
Prior to joining the firm, Mr. Fitzgerald was a 25-year employee of the FDIC, most recently serving as a Corporate Expert where he was responsible for overseeing capital stress testing for the FDIC and advising on resolution plan reviews at systemically important financial institutions (SIFIs). Capital stress testing efforts included direct annual reviews of capital plan submissions, beginning with the original Supervisory Capital Assessment Process (SCAP) in 2009 and continuing with the annual Comprehensive Capital Analysis and Review (CCAR). These reviews provided extensive insight into wholesale loss estimation processes employed by firms. Resolution planning efforts included advising onsite teams during reviews, assessing and prioritizing findings, and developing firm feedback letters and interagency guidance for domestic firms' 2017 submissions.
Additionally, during his career with the FDIC, Mr. Fitzgerald was responsible for extensive credit review work, leading teams in reviews of leveraged lending, shared national credits, commercial real estate and construction, troubled assets, portfolio management practices, internal loan review, appraisal review, and allowance for loan and lease losses methodologies. Further, he contributed in the development of the U.S version of the Advanced Internal Ratings Based approach capital rule, as well as conducting numerous reviews of credit risk rating systems utilized by firms of various size.
Mr. Fitzgerald has served in numerous roles throughout his career, including Section Chief of the Office of Complex Financial Institutions Branch, a Senior Bank Examiner, a Senior Financial Analyst, and a Bank Examiner. These roles have included working directly with the Federal Reserve and OCC staff since 2003, including senior level executives responsible for capital stress testing, shared national credits, and resolution planning.
Mr. Fitzgerald holds a B.S in Finance from Northeastern State University.
Prior to joining the firm, Mr. Price was a Deputy Comptroller at the Office of the Comptroller of the Currency (OCC). In that capacity, he had direct oversight of a portfolio of large national banks and was responsible for all OCC international operations and supervision.
In his Deputy Comptroller role, Mr. Price was a key advisor to the Comptroller on domestic and international policy issues and served on the OCC's Committee on Strategic Direction. Mr. Price was the main OCC contact point for all foreign supervisors and international groups. He oversaw the supervision component of numerous licensing activities and corporate applications. Mr. Price also spent time as the OCC Director of Commercial Credit Policy where he authored regulatory policy, wrote and approved examiner guidance, and briefed congressional staff on supervisory issues.
Mr. Price also represented the OCC in many international venues, including the Financial Stability Board's Senior Supervisor's Group, the Basel Committee's Supervisory Implementation Group where he chaired the BCBS's rewriting of stress testing guidelines, and as the North American Board member for the Association of Banking Supervisors of the Americas where he headed the effort to improve the organization's operational governance.
Over his 33-year OCC career, Mr. Price gained extensive experience in all phases of banking regulation having spent many years as a field examiner, an Examiner-in-Charge, a policy Director, and as a Deputy Comptroller. As both a Deputy Comptroller and as an Examiner-in-Charge, he approved numerous action plans and oversaw remediation efforts related to safety/soundness, compliance, and BSA/AML consent orders. He has led examination teams, Shared National Credit reviews, training initiatives, and a portfolio of large bank examiner teams comprising more than 250 OCC examiners. Mr. Price has provided regulatory oversight for financial institutions going through major expansion initiatives and companies experiencing significant stress.
He holds a B.B.A. from Wichita State University and is a Commissioned National Bank Examiner.