WASHINGTON Andrew Olmem, a long-time staffer on the Senate Banking Committee, has joined the law firm Venable as a partner.
Olmem, the banking panel's Republican chief counsel and deputy staff director, worked on the committee for seven years. He was a lead negotiator during the writing of the Dodd-Frank Act, and witnessed the passage of the Housing and Economic Recovery Act and the Troubled Asset Relief Program during his tenure on the committee.
"Federal oversight continues to create fresh challenges for our clients - Dodd-Frank may be the biggest iceberg but there are scores of other new rules and bills that make for tough sailing. For more than seven years, Andrew Olmem has been at the center of this environment - which has produced the farthest-sweeping set of financial laws since the New Deal," Ronald Glancz, who heads the firm's financial services practice group, said in a statement.
Olmem previously worked at several major law firms and began his career at the Federal Reserve Bank of Richmond as an assistant economist.
"Congress and financial regulators are still actively considering market-changing reforms that will impact the entire financial services industry," he said in a statement. "From the ongoing Congressional debate over housing finance to the implementation of Dodd-Frank rules, financial reform is far from over."