WASHINGTON — Eugene Ludwig, founder of Promontory Financial Group and former Comptroller of the Currency, was recognized Thursday evening by the Foreign Policy Association for his contributions to financial services.

The Foreign Policy Association Medal recognizes individuals for work on international affairs issues, and has previously been given to, among others: Michael Bloomberg, the former New York City mayor; Timothy Geithner, the former Treasury Secretary; Jean-Claude Trichet, president of the European Central Bank; and Sheila Bair, former chairman of the Federal Deposit Insurance Corporation.

Ludwig served as head of the OCC from 1993 to 1998, before starting Promontory in 2000, which he still leads as chief executive. He's also been involved in ongoing work with the Grameen Bank, a microfinance organization. Karen Peetz, president of Bank of New York Mellon, and Paul Volcker, the former Federal Reserve Board chairman, lauded Ludwig's accomplishments at the ceremony.

"Gene is an agent of change, who is helping resolve challenging national and cross-border issues. He is reducing risk, restoring trust and paving the way for greater long-term market stability," said Peetz.

Also receiving the award were R. Glenn Hubbard, dean of Columbia Business School and former head of the Council of Economic Advisors, and Boon Sim, head of markets and president for the Americas at Temasek, a Singapore-based investment firm, and the former deals chief at Credit Suisse.

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