WASHINGTON — Acting Federal Deposit Insurance Corp. Chairman Martin Gruenberg is leaving his post at the helm of a group that sets standards for deposit backers around the world.
The International Association of Deposit Insurers said Jerry Pruski, president of the management board for the Bank Guarantee Fund of Poland, will succeed Gruenberg as president of IADI as well chairman of its executive council.
Gruenberg had run the international group for five years, assuming leadership when he was still vice chairman of the FDIC under Sheila Bair. He had first been elected to a three-year term running IADI, and then reelected for a two-year term.
"The financial crisis highlighted the importance of deposit insurance to financial stability and afforded IADI an opportunity to provide valuable leadership during this period," Gruenberg, whose nomination by the Obama administration to become permanent FDIC chairman is still pending, said a in a press release.
IADI, which is 10 years old and based in Basel, Switzerland, has become recognized as the world's standards-setter for government deposit insurance systems. The group now counts participants and partners from 84 countries with deposit protection agencies, growing from 26 founding members.