The Federal Deposit Insurance Corp. on Monday announced it hired Bret Edwards as the director of its division of resolutions and receiverships.

Edwards has been acting director since January.

He was the director of the FDIC's finance division since 2007.

"I am very pleased to announce the selection of Bret for this position," FDIC Chairman Sheila Bair said in a press release. "Bret is a seasoned executive with more than 22 years of broad-based FDIC experience. His exceptional leadership skills, strategic management expertise and experience in resolutions and asset marketing uniquely position him to lead DRR out of the financial crisis. Bret is a dedicated public servant who is well qualified to assume this new responsibility."

Edwards formally assumed the role on Monday. In his work at the finance division, Edwards oversaw the development of the FDIC's budget and was responsible for the collection of deposit insurance assessments. Before 2007, Edwards was in senior management positions in the agency's executive office and finance division.

Craig Jarvill, the deputy director of the division of finance, has been acting director of the division since January.

Jarvill will continue in that role until a permanent director is selected, the FDIC said.

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