In a major shift intended to modernize and streamline bank oversight, the Office of the Comptroller of the Currency announced a sweeping reorganization of its supervisory structure.
The OCC said in a press release that it will combine midsize and community bank supervision will be combined with large bank supervision to create a single office.
Greg Coleman, senior deputy comptroller for large bank supervision, will lead the combined office. Beverly Cole, senior deputy comptroller for midsize and community bank supervision, will retire next month.
The OCC will also reinstate the chief national bank examiner office, which will include the divisions of bank supervision policy, well as supervision risk and analysis. Jay Gallagher, senior deputy comptroller for supervision risk and analysis, will lead the reinstated office.
Grovetta Gardineer, senior deputy comptroller for bank supervision policy, will retire in May.
Finally, the agency said it will elevate its information technology and security function to be led by a new senior deputy comptroller who would join the executive committee.
These changes will be effective on June 2.