GASTON L. GIANNI, JR. TO BECOME NEW FDIC INSPECTOR GENERAL
FOR IMMEDIATE RELEASE PR-23-96 (4-10-96)
Media Contact: David Barr (202) 898-6992
Gaston L. Gianni, Jr. will be the Federal Deposit Insurance
Corporation's new Inspector General (IG), following recent Senate
approval of his appointment. Mr. Gianni is expected to be sworn
in later this month.
James A. Renick, who has been acting IG since June 1994,
will resume his duties as Principal Deputy Inspector General.
The Inspector General Act of 1978 directs the Inspector
General to "recommend policies for activities designed to promote
economy, efficiency, and effectiveness" in the FDIC's programs
and operations. The Act also mandates that the IG "conduct and
supervise audits and investigations" of the FDIC's programs and
operations "to prevent and detect fraud and abuse." Mr. Gianni
will provide reports to the FDIC Board of Directors, other top
managers, and Congress.
FDIC Chairman Ricki Helfer said: "The Inspector General
plays an integral role in the effective operation of the FDIC. We are
indeed fortunate to have someone with Gaston Gianni's strong
audit and management background in this position."
Mr. Gianni spent over 31 years with the U.S. General
Accounting Office (GAO), where he managed audits involving a
variety of government programs. As Associate Director for
Government Business Operations Issues, he led the GAO's efforts
to oversee the Resolution Trust Corporation's operations. He also
directed GAO audit programs in other federal agencies, including
the General Services Administration, and the Departments of
Justice, Labor, and Transportation.
A native of Weirton, West Virginia, Mr. Gianni received a
B.S. degree in accounting in 1964 from the College of Steubenville in
Steubenville, Ohio, and later attended American University,
George Washington University, and Harvard's Kennedy School for Senior
He and his wife, Sue, have one son, two daughters, and three
Congress created the Federal Deposit Insurance Corporation in
1933 to maintain public confidence in the nation's banking system.
The FDIC insures deposits at the nation's 12,000 banks and savings
associations and it promotes the safety and soundness of these
institutions by identifying, monitoring and addressing risks to
which they are exposed.