The Federal Deposit Insurance Corp. has appointed Arthur Murton to be the new director of the Office of Complex Financial Institutions. The FDIC veteran will take over from James Wigand who is retiring.
As the new OCFI director, Murton will be responsible for dealing with the failure of large complex banking companies and their resolution. He will also review the “living wills” these giant banks must file to provide a map for their orderly liquidation.
FDIC also appointed Diane Ellis to be the new director of the Division of Insurance and Research—Murton’s former position.
The new DIR director will be responsible for assessing economic and
