The Federal Deposit Insurance Corporation (FDIC) today announced the appointment of Paul M. Nash as Deputy to the Chairman for External Affairs, a new senior position. Mr. Nash will report directly to FDIC Chairman Sheila Bair and will oversee the operations of the agency's Office of Legislative Affairs and Office of the Ombudsman. As the executive manager of these two offices, he will help shape the FDIC's legislative initiatives and he will oversee the FDIC's problem resolution services for bankers, their customers and the public at large. In addition, Mr. Nash will assist the agency in community bank outreach and will set up a special advisory committee to examine issues unique to community banking.
In announcing the appointment, Chairman Bair said, "Mr. Nash joins us at a critical time for the FDIC, as we look at our broader role in helping the industry and consumers take the steps needed to secure our nation's economic recovery. The FDIC will be well served by his counsel and leadership."
Mr. Nash previously served as Executive Director and Counsel at Verizon Wireless in Washington, DC, since 2001. He will be primarily responsible for directing legislative affairs and the agency's external ombudsman operations. Prior to joining Verizon Wireless, Mr. Nash served as a legislative assistant to Senator Tim Johnson (D-SD) from 1997 to 2001, specializing in banking, health care, telecommunications and labor issues. He also worked for the Congressional Research Service and practiced law in both Washington, DC, and New Orleans, Louisiana.
Mr. Nash received a Bachelor of Arts degree in International Relations and History from the University of Pennsylvania and a law degree from Georgetown University.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,305 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. The FDIC receives no federal tax dollars – insured institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). FDIC-PR-39-2009.