New York governor names ex-Obama advisor to lead financial regulator

WASHINGTON — New York Gov. Kathy Hochul has nominated Adrienne Harris, a former economic advisor to President Barack Obama, to head the New York State Department of Financial Services.

Harris would succeed former DFS Superintendent Linda Lacewell, who resigned in the wake of the sexual harassment scandal that forced former Gov. Andrew Cuomo to step down earlier this month.

A former special assistant for economic policy to Obama at the White House National Economic Council, Harris has advised fintech firms among other companies and is now a professor at the Ford School of Public Policy at the University of Michigan. She is also a senior advisor at Brunswick, a business advisory firm. Her nomination was announced Tuesday.

In a statement, Harris said she would be “honored and humbled” to work in Hochul’s administration if confirmed by the state’s Senate.

"Under [Hochul’s] leadership, we will work together to ensure we have a robust and fair financial system, and an equitable economy,” she said. “New Yorkers deserve no less. I look forward to getting to work."

New York Gov. Kathy Hochul, who took office Aug. 24 following the resignation of Andrew Cuomo, said “there is no one better suited to help lead this state's economy forward” than Adrienne Harris.
New York Gov. Kathy Hochul, who took office Aug. 24 following the resignation of Andrew Cuomo, said “there is no one better suited to help lead this state's economy forward” than Adrienne Harris.

Before joining the Obama White House in 2015, Harris served as senior advisor to Mary Miller, the Treasury Department’s then-acting deputy secretary and undersecretary for domestic finance, and Sarah Bloom Raskin, who was also a deputy secretary at Treasury.

“There is no one better suited to help lead this state's economy forward” than Harris, Hochul said in a statement.

“With Adrienne Harris as our state's top financial regulator, New Yorkers can rest assured that this administration isn't simply focused on just protecting consumers, but on advancing an equitable economic recovery that seeks to lift up all citizens, not just the privileged few," she said.

Lacewell stepped down from the state agency on Aug. 24 following an investigation by the New York attorney general that found that Cuomo had sexually harassed 11 women and created a toxic work environment.

An aide and advisor to the former New York governor, Lacewell worked with other Cuomo allies to develop a public relations strategy as allegations gained traction in the media, including by collecting signatures for a letter of support for the governor, according to a report released by the New York attorney general’s office.

For reprint and licensing requests for this article, click here.
State regulators New York NYDFS Women in Banking
MORE FROM AMERICAN BANKER