NEW YORK--(BUSINESS WIRE)--USTC Holdings, LLC, the investor consortium that acquired Xe Services, LLC including its main holding U.S. Training Center, Inc. (USTC) in December 2010, today announced that Suzanne Folsom has been named the Company’s first Chief Regulatory & Compliance Officer and Deputy General Counsel. The role of Chief Regulatory & Compliance Officer is a new and important one for Xe Services. The Company, led by its new board and leadership teams, has committed itself to creating an industry-leading governance and compliance program as part of the Company’s latest chapter of transition and growth.
Before joining USTC, Suzanne served as the Vice President, Chief Regulatory & Compliance Officer and Deputy General Counsel of AIG, where at the height of the financial crisis, she established a leading practices global regulatory and compliance system for AIG in the more than 130 countries in which it operated. She also served previously as the Counselor to the President of the World Bank Group and ran its anti-corruption department.
Earlier Suzanne practiced law at one of the country’s leading law firms, O'Melveny & Myers, where she was an international regulatory practice group leader, representing senior government officials and cabinet level appointees in multiple Administrations and at numerous agencies including the Departments of Defense, State and Treasury for confirmation hearings, and providing ethics and legal guidance. Suzanne has lived and worked in the Middle East and around the world and is a subject matter specialist in international regulatory affairs, global compliance, ethics and international law.
“Having someone of Suzanne’s exceptional background and experience to lead compliance efforts speaks volumes about Xe’s commitment to be a best-in-class industry leader in everything the company does,” said former Attorney General John Ashcroft, who is an independent director on the Company. Suzanne's hiring comes on the heels of a series of enhancements to the Company’s management and leadership teams, including the selection of Ted Wright, CEO, former Attorney General John Ashcroft, Independent Board Member, and several other new board members. "The new owners and leadership of Xe are committed to operating at the highest level of ethical standards in this highly complex international business environment. Nothing more exemplifies this commitment than Xe's hiring of Suzanne Folsom, with her depth of experience, knowledge and judgment, to ensure that Xe's regulatory and compliance program leads the industry," said former Clinton White House Counsel Jack Quinn, Chairman of Quinn Gillespie.
“Growing up in a military family, I believe strongly in Xe’s mission, and understand that this Company performs a critical service for our country,” Folsom said in a statement. “I also believe that every company has an obligation to act ethically and responsibly and to project the highest values of our country, no matter the job. I very much look forward to joining an extraordinary new leadership team at Xe.”
USTC is a leading provider of training and security services focused on worldwide operations in support of the United States Government and other customers. Xe continues to have the best performance-record and assets in the industry, making it a valued support tool to U.S. strategy abroad and in the domestic training of the U.S. military.
ABOUT U.S. TRAINING CENTER SUBSIDIARY OF XE SERVICES
USTC is the pre-eminent global provider of training and technical services focused on counterterrorism, force protection, law enforcement and security operations. Across its four vertically integrated business divisions – domestic training, international training, security services and logistics – the Company serves the U.S. Department of State, the U.S. Department of Defense, the U.S. Navy, numerous law enforcement and other government customers. USTC’s proven ability to provide turnkey, end-to-end training and technical services, along with its unmatched track record of exceptional performance, has enabled the Company to establish a competitive advantage well-recognized by its customers.