Former New York Banking Superintendent Richard Neiman Named to Key Leadership Role in PwC's Global Regulatory Advisory Practice

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Jun 07, 2011, 03:10 ET

NEW YORK, June 7, 2011 /PRNewswire/ -- Richard H. Neiman has joined PwC as vice chairman of the firm's global financial services regulatory practice. Neiman, who recently completed his term as Superintendent of Banks for the State of New York and as a member of the Congressional panel overseeing the implementation of TARP, 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 advise and work with financial institutions, financial market utilities, and regulators around the world on issues arising from the rapidly changing regulatory environment, including the Dodd-Frank Wall Street Reform and Consumer Protection Act. Mr. Neiman will also lead the firm's foreign bank regulatory practice and will focus on advising foreign banks on governance, compliance and business issues with respect to their operations in the US.

"Richard Neiman is one of the most respected global regulatory leaders in the financial services industry, and has been in the middle of much of the regulatory reform debate in his role as the New York Superintendent of Banks and member of the Congressional Oversight Panel. In this time of regulatory-driven change, we think our clients will appreciate the unique perspective that Richard will bring them as a former regulator and industry executive," said Dan Ryan, partner and chairman of PwC's financial services regulatory practice. "We are especially pleased that Richard, who was a director in our practice in the 1990s, and had many options for the next phase of his career both in the public and private sector has chosen to re-join our team at PwC."

Mr. Neiman served as the 43rd Superintendent of Banks for the State of New York from March 2007 until May 2011. In that capacity, he was responsible for the supervision of all state-chartered depository institutions, including the majority of the 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 held hearings across the country and 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 then based in New York with $15 billion in assets. TD Bank USA is a 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 a director in the regulatory advisory services practice of what was then Price Waterhouse LLP. 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 is active in professional circles, serving recently as chairman of the Foreign Bank Regulatory Committee of the Conference of State Bank Supervisors, as advisory board member at Columbia Business School's Chinese Business Initiative, and as a member of The Bretton Woods Committee. He also serves on the boards of several community organizations, including 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 whose prior recipients have included 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