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Promontory's connections and expertise turned the consultant into a private sector regulatory proxy. But those same strengths put the firm in the crosshairs after its role in the failed foreclosure review process and controversial work for MF Global and Standard Chartered.
March 15 -
WASHINGTON — Though Federal Reserve Board Chairman Ben Bernanke signaled this month that he would likely extend investment banks' access to the discount window beyond September, the firms themselves do not seem so interested now.
July 22 -
Jacksonville Bancorp (JAXB) in Florida has filled its opening for a chief executive.
December 10 -
Independent foreclosure reviews at the major banks were meant to compensate wronged homeowners and restore some faith in the integrity of mortgage servicing. Instead, the process has become mired in questions of objectivity.
November 1
Citigroup's (NYSE:C) board has added Duncan Hennes, a veteran financial executive and a co-founder of consulting firm Promontory Financial Group, as an independent director.
Hennes will join the risk management and finance committees of both the company and its bank, according to Citigroup's Wednesday
He is the co-founder and partner of investment advisory firm Atrevida Partners. He also serves on the advisory board of Promontory, which he co-founded in 2001.
Promontory, which helps banks navigate supervisory oversight, has earned a reputation as the banking industrys
Before co-founding Promontory, Hennes was the chief executive of Soros Fund Management. He also held a
Hennes "has broad experience in financial services with notable expertise in securities markets and risk management," Citi Chairman Michael O'Neill said in the release.
Hennes also serves on the boards of Standard & Poor's and bond insurance holding company Syncora Holdings.
