WASHINGTON - Robert J. Herrmann, former No. 2 at the Office of the Comptroller of the Currency, has come out of a brief retirement to begin a second career with KPMG Peat Marwick.
Mr. Herrmann joins former OCC examiner John Hale and Dana Rudmose from the Ohio Insurance Commissioners' Office as the three latest hires by KPMG's regulatory advisory practice.
"I started my new job search the week after I left the OCC," Mr. Herrmann said. "I had no intention of staying retired for too long. I'm only 55. That's too young to just sit in a rocking chair."
KPMG has no intention of slowing, either. The hiring frenzy will continue for a year to 18 months more, according to Steven M. Roberts, partner in charge of the practice. Areas where KPMG plans to add more people are Pittsburgh, Chicago, and Atlanta, Mr. Roberts said.
"We developed a regulatory network of 55 cities, and we've had to grow to be able to service those clients," Mr. Roberts said. "We've gone from a niche, or boutique, type of company to a nationwide practice."
Mr. Herrmann will direct KPMG's business in the Southeast, working out of Atlanta. He finished his 33-year career with the OCC in Chicago as deputy comptroller after leaving his higher-ranking, Washington-based senior deputy comptroller position.
He said those years gave him varied experience that will be valuable to KPMG.
"It may not sound too humble, but I always felt I was an enlightened regulator because I could see the other point of view," Mr. Herrmann said. "What I bring to Peat Marwick is vast experience in a wide number of areas. I'm very comfortable with bankers and dealing with them."
Mr. Hale's title will be senior manager. He had previously worked at Pinnacle Bank Consulting, which he founded in 1992 in Los Angeles, and will continue to work from there. Mr. Roberts said he pursued Mr. Hale for his expertise in credit and due diligence.
"We hired him because we saw a desire in small banks to outsource parts of the credit relief function," Mr. Roberts said. "He will allow us to better do that."
Mr. Rudmose will work out of Columbus, Ohio, where he will serve as a director for the company's regulatory insurance services.
