Joseph A, Jiampietro, Senior Advisor for Markets to FDIC Chairman Sheila C. Bair, will leave the FDIC effective August 13, 2010. Mr. Jiampietro has served in this position since March of 2009.
"Joe has given the FDIC invaluable service during a challenging time in the FDIC's history. His input on marketing and resolution strategies and substantive expertise on capital markets has contributed to the FDIC's ability to address many complex and difficult failed bank resolutions," said FDIC Chairman Sheila C. Bair. "This in turn has provided stability to the banking system and maximized the FDIC's ability to recoup money for the Deposit Insurance Fund. Joe has also offered market insight into all areas of policy to help guide and inform FDIC decisions."
"While challenges remain for the banking system, the industry is returning to health and is much more stable. Joe's counsel during those difficult times brought a unique and valued perspective to the FDIC. I appreciate Joe's contributions and his dedication to public service and wish him the best of luck in all future endeavors."
Before joining the FDIC, Mr. Jiampietro served as Managing Director of the Financial Institutions Group at J.P. Morgan in New York since 2007, with responsibility for delivering merger and acquisition and corporate finance advice to depository institutions. Prior to joining J.P. Morgan, Mr. Jiampietro was a Managing Director in the Financial Institutions Group of UBS Investment Bank, where he was also head of Financial Institution Capital Markets. Mr. Jiampietro has spent 11 years in investment banking, providing strategic advice to financial institutions. Prior to his career in investment banking, he was an associate practicing corporate law at Simpson Thatcher and Bartlett. Mr. Jiampietro served as Legal Counsel with the United States Senate Committee on Banking, Housing and Urban Affairs during the 104th Congress.
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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 7,932 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 financial 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). PR-177-2010