WASHINGTON — Promontory Financial Group has hired Linda Gallagher, the head of KPMG's financial services regulatory practice, to lead its consumer protection unit.
Gallagher spent 25 years at KPMG and was credited for establishing its regulatory compliance department, where she worked with some of the largest financial companies in the country. Promontory on Wednesday named Gallagher a managing director and global head of its consumer protection practice, including helping companies meet requirements from the Consumer Financial Protection Bureau.
"Consumer protections and how the industry needs to respond are directly related to the business model," said Gallagher in a phone interview Wednesday. "We need to be working with businesses and executives to help them understand that this is a business model issue; it's not just a regulatory compliance issue."
Gallagher has also worked as a tax specialist for financial institutions and was a professional accounting fellow at the Federal Home Loan Bank Board.
"Linda is a superb strategist who has helped many clients not only to adhere to the technical details of compliance, but to embrace higher concepts, such as consumer protection, and manage accordingly," said Eugene Ludwig, Promontory's founder and chief executive, in a press release. "Our clients will be well served by Linda's practical experience and deep insights, especially into meeting the regulatory requirements and expectations of the Consumer Financial Protection Bureau."