The Comptroller of the Currency late Wednesday appointed Timothy Ward to be its first deputy comptroller for thrift supervision.
Ward, a 26-year veteran of the Office of Thrift Supervision, joined the OCC last February to become a deputy comptroller and senior advisor at the agency that supervises national banks.
In his new role he will lead the planning process for the merger of OTS into OCC, which is mandated in the Dodd-Frank regulatory reform bill Congress passed in July. The merger is slated for completion by July 2011when OTS will officially be abolished.
"He certainly is a well qualified choice and a choice that will be well received by the thrift industry," said Bob Davis, executive vice president with the American Bankers Association.
Ward was the deputy director for examinations and supervision at OTS before he moved to OCC.
"Given the amount of uncertainty that is naturally created by a transition of this magnitude, I thought it was important to announce the decision now so that Tim can serve as a point of contact for both OTS staff and federally-chartered thrifts during the coming months here at the OCC," said Acting Comptroller John Walsh.
