After being at the Federal Deposit Insurance Corp. for little more than a year, Michael Bradfield, the agency's general counsel, announced Friday he has resigned and plans to leave by the end of this week.
He was the second senior FDIC official to depart last week after a relatively short tenure. Joseph A. Jiampietro, senior adviser for markets to Chairman Sheila Bair, said he, too, would leave Aug. 13. Jiampietro, who provided key support in attempting to sell assets of failed banks, joined the FDIC in March 2009.
Both men won praise from Bair as they announced their departures. Jiampietro's "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," Bair said.
Commenting on Bradfield, who previously served as general counsel of the Federal Reserve Board under former Fed Chairman Paul Volcker, Bair said "his knowledge of domestic and international banking issues and command of the regulatory framework has served the FDIC well through a period of challenging resolution activity and the many legal issues stemming from these bank failures."
