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William S. Haraf, longtime financial industry veteran and most recently California’s top financial regulator, has been named a Managing Director of Promontory Financial Group LLC. Promontory is a premier strategy, risk management, regulatory, and compliance consulting firm that works with clients across all financial services sectors.
William S. Haraf, California's former Commissioner of Financial Institutions, has been named a Managing Director of Promontory Financial Group. (Photo: Business Wire)
At Promontory, Mr. Haraf will work with financial institutions to address their challenges and focus on opportunities. “A shifting regulatory landscape has put a renewed emphasis on corporate governance, enterprise risk management and robust compliance programs,” Mr. Haraf said. “These should be integral elements of any financial institution’s coherent strategic vision.”
His new role at Promontory will mark his second stint with the firm. Prior to his four years of distinguished service as California’s Commissioner of Financial Institutions – marked by his selection as the state banking supervisors’ representative on the Financial Stability Oversight Council – he worked as an independent consultant with Promontory and as a visiting professor at the University of California-Davis’ Graduate School of Management. He previously spent nine years at Bank of America as managing director of Banc of America Securities and senior vice president of strategic policy development and planning for the bank. His tenure at Bank of America followed five years as director of policy analysis for Citicorp.
Before that, Mr. Haraf was J. Edward Lundy Scholar and director of the financial markets project at the American Enterprise Institute for Public Policy Research. He also served as special assistant to the Chairman and senior staff economist to the President’s Council of Economic Advisors during the Reagan Administration, from 1983-1985. From 1979 to 1983, Mr. Haraf was an assistant professor of economics at Brown University.
“Those of us who have had the pleasure to know Bill for many years have come to prize his vast knowledge and understanding of financial services and regulation,” said Promontory Founder and Chief Executive Officer Eugene A. Ludwig. “His experience and record of success in both the public and private sectors will be a tremendous asset to our clients.”
Mr. Haraf earned a Ph.D. in economics at the University of Washington. He also holds a B.S. in finance from Northern Illinois University.
Promontory Financial Group, headquartered in Washington, D.C., is a global consulting firm for financial services companies. The firm specializes in solving regulatory, risk, controls, compliance, governance, capital, and liquidity issues. Promontory has offices in New York, San Francisco, and Atlanta, and affiliate offices in Brussels, Dubai, Hong Kong, London, Milan, Paris, Singapore, Sydney, Tokyo, and Toronto. Eugene A. Ludwig, who served as U.S. Comptroller of the Currency under President Clinton, founded Promontory in 2001.
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