The swearing-in of Nicolas P. Retsinas as interim director of the Office of Thrift Supervision is expected today.
Mr. Retsinas, 49, is expected to continue serving as assistant secretary for housing at the Department of Housing and Urban Development and as HUD's representative on the Federal Housing Finance Board.
An announcement about the appointment was anticipated from the Clinton administration late yesterday, but no word had come by press time.
Because he has been confirmed by the Senate, Mr. Retsinas can serve as interim head of OTS for at least seven months.
Informed of Mr. Retsinas' imminent appointment, FDIC Chairman Ricki Helfer had words of praise. She termed him "bright, conscientious and quite thoughtful," and said she looked forward to working with him as a member of the FDIC board.
"The industry really respects and admires him," said Robert P. Schmermund, director of communications for America's Community Bankers.
He said Mr. Retsinas was a great proponent of public-private partnerships and did not believe that Washington had all the answers. "Nick is a good listener and surrounds himself with smart people," he said.
Thrifts know Mr. Retsinas well because of his work with HUD, the Federal Housing Administration and the Finance Board, which oversees the Federal Home Loan Bank System, Mr. Schmermund said. "He has a very clear and reasoned approach to government," he added.
Jonathan L. Fiechter, who was acting director for nearly four years, announced in June that he would leave the agency to take a job with the World Bank. He pushed back his Sept. 4 departure date by more than a month to give the Treasury Department time to find a replacement.
OTS for years was considered an agency doomed to go out of business. But a revived thrift industry, and the ability of the agency to cut its administrative expenses and adapt to a changing environment, has improved the prospects for its survival.
Mr. Fiechter has said that the eventual naming of a permanent director should give the agency some certainty about its future.
A native of Providence, R.I., Mr. Retsinas obtained his undergraduate degree in economics from New York University and a graduate degree in city planning from Harvard University.
After serving six years as executive director of the Rhode Island Housing and Mortgage Finance Corp., Mr. Retsinas was nominated to his HUD post by President Clinton in 1993.
