WASHINGTON--(BUSINESS WIRE)--Stephen M. Hoffman, a prominent regulatory expert, has joined Promontory Financial Group, the premier global financial services consulting firm. Mr. Hoffman joins Promontory as a Managing Director following a distinguished 39-year career with the Federal Reserve System.
Mr. Hoffman most recently served as the Executive Vice President of Banking Supervision and Regulation at the Federal Reserve Bank of San Francisco, a position he assumed in July 2006. During his tenure in that role, he was the head of Banking Supervision for the Twelfth District and a member of the Bank’s Executive Committee.
Prior to his recent work at the Federal Reserve Bank of San Francisco, Mr. Hoffman served as Deputy Director of Banking Supervision and Regulation at the Federal Reserve System’s Board of Governors in Washington, D.C. He assumed senior capacities at the Board, beginning in 1993 as the assistant director for International Banking Supervision. Mr. Hoffman's career with the Fed began in 1972 at the Philadelphia Bank as an assistant bank examiner.
“During a spectacular career at the Federal Reserve, Steve Hoffman has demonstrated an exceptionally deep and robust command of financial supervision and regulation. Having spent virtually four decades as a bank supervisor, and advancing through every level of the Fed, Steve has an unrivaled, comprehensive knowledge of regulation,” said Eugene A. Ludwig, Promontory’s founder and CEO. “I am thrilled that Promontory’s clients will benefit from Steve’s extraordinary talent, insight, and experience on a wide-range of regulatory matters.”
“Promontory enjoys a high reputation among financial services companies and their regulators, both in the U.S. and around the world,” said Mr. Hoffman. “I am excited to be part of this unique firm's efforts to help financial companies meet and exceed regulatory standards, and address their most pressing challenges.”
At Promontory, Mr. Hoffman joins a unique team of professionals that includes former senior financial services regulators and executives. Promontory provides strategic advice and assistance to many of the world’s premier financial companies, with a particular focus on developing practical solutions to address regulatory, risk, controls, compliance, governance, capital and liquidity issues.
Mr. Hoffman earned a bachelor of science degree in finance from La Salle University in Philadelphia, and did graduate work at Drexel and Widener Universities in Pennsylvania. He also holds a degree in banking from the BAI School for Bank Administration at the University of Wisconsin.
Notes to Editors:
About Promontory
Promontory Financial Group, headquartered in Washington, D.C., is the premier global consulting firm for financial services companies. Promontory has offices in New York, San Francisco, and Atlanta, and affiliate offices in London, Dubai, Milan, Paris, Singapore, Sydney, Tokyo and Toronto. Eugene A. Ludwig, who served as U.S. Comptroller of the Currency under President Clinton, founded Promontory in 2001.
Visit us on the web at www.promontory.com