Seidman to Help Seek Bailout Boss

WASHINGTON - Resolution Trust Corp. Chairman L. William Seidman has agreed to help Treasury Secretary Nicholas Brady recruit a high-profile, private-sector businessman to step in as chief executive officer of the thrift bailout.

Mr. Seidman will serve on a search committee with Office of Thrift Supervision Director T. Timothy Ryan Jr. and Oversight Board member Robert C. Larson, who is vice chairman of the Taubman Cos., a real estate development and property management concern based in Bloomfield Hills, Mich. Treasury Under Secretary John Robson will head the committee.

The most frequently mentioned candidate for the job is Gerald Greenwald, an investment banker and former Chrysler Corp. executive. He has talked to RTC and Treasury officials about the post but has not indicated his interest publicly.

Still unresolved is to whom the new CEO will report. Mr. Brady wants him to report to the RTC chairman. Mr. Seidman wants him to report to Mr. Brady, who is also Oversight Board chairman.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.