Federal Deposit Insurance Corp. (FDIC) General Counsel Michael Krimminger will be leaving the agency later this month to join the law firm of Cleary Gottlieb Steen & Hamilton as a partner in its Washington, D.C., office.

Krimminger's last day at the FDIC will be May 25. After his departure, Richard Osterman, deputy general counsel, will be acting general counsel until a replacement is named.

Krimminger was appointed the FDIC's acting general counsel in November 2010 and as general counsel in February 2011 by former FDIC Chairman Sheila Bair.

Prior to becoming general counsel, Krimminger was special advisor for policy and then deputy for policy to Bair and the board of directors from 2006 to 2011. Before that, he was three years as an advisor in the Office of the Chairman at the FDIC and over ten years in other senior policy and management positions at the agency.

Previous to the FDIC in 1991, he practiced banking law and litigation in Los Angeles and Washington, D.C.

"Mike has been instrumental in developing major policy initiatives during the most challenging time in the FDIC's history, including the FDIC's new Orderly Liquidation Authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act," said Acting Chairman Martin Gruenberg. "His leadership and extensive expertise in banking and financial institution crisis and resolution, mortgage finance, international coordination, capital markets, and legal issues have been invaluable to the FDIC during his many years of public service at the agency."


Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.