Washington People: Big-Bank Champion Joins IBAA as Its Senior Lobbyist

Big-bank lobbyist Marty Farmer is joining the little guys.

Mr. Farmer, who retired from Barnett Banks Inc. when it was bought by NationsBank Corp. in January, will become a senior lobbyist for the Independent Bankers Association of America on March 2.

Mr. Farmer's move has surprised industry lobbyists. Many wonder how the outspoken and fiercely independent former Marine captain will get along with IBAA executive vice president Kenneth A. Guenther, who is hardly bashful about his own opinions.

But Mr. Farmer said he isn't worried about butting heads with his new boss. "Ken is direct and makes his point clearly," Mr. Farmer said. "I've never had a problem saluting that kind of guy."

Mr. Guenther noted that the IBAA, which represents 5,500 community banks, and Barnett, which had $44 billion of assets, were on the same side of the industry's two leading issues in recent years. Both opposed pending financial reform proposals and fought the 1994 law permitting interstate branching.

"We've worked very closely over the years," Mr. Guenther said. "This will be a comfortable fit."

Mr. Farmer is wasting no time in relocating. On Friday, packers were at his Jacksonville, Fla., home preparing for a move to Chevy Chase, Md. He will succeed Peter Kravitz, who left the IBAA in November. Before joining Barnett in 1986, Mr. Farmer was senior attorney and director of government relations for First Chicago Corp.

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Carol J. Parry, executive vice president for community development at Chase Manhattan Corp., will not be a member of the Federal Reserve Board.

Ms. Parry reportedly has turned down an offer for the seat held by Fed Governor Susan M. Phillips, whose term expired Jan. 30.

Through a spokesman, Ms. Parry declined to comment. "She has made a decision to remain at the bank and will continue to run community development," the spokesman said. "She is very happy about that."

Word is Ms. Parry eventually plans to retire to Arizona; starting a new life in Washington would only postpone that.

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Eugene A. Ludwig began his farewell tour last week with a luncheon speech before the Exchequer Club, warning banks yet again to keep an eye on credit quality.

Though he's not sure what he'll do when his five-year term as comptroller of the currency ends in April, Mr. Ludwig said he is considering writing a book on the democratization of credit. He's also searching for a vacation spot to celebrate his 20th wedding anniversary.

Among friends-the Exchequer Club consists of financial services pros working in Washington-Mr. Ludwig got some good-natured ribbing during the Q&A period.

"Would you consider becoming the first chair of the Federal Insurance Commission?" asked Gary E. Hughes, chief counsel of securities and banking at the American Council of Life Insurance.

The room erupted in laughter because Mr. Ludwig has pushed for expanded insurance powers for banks and insisted his agency has the know-how to oversee these activities. That stance has riled some in the state-regulated insurance industry who do not want a federal regulator.

"I would be honored," Mr. Ludwig responded, before adding: "However, I think that's somewhat unlikely."

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Patrick A. Mulloy, a 15-year veteran of the Senate Banking Committee, may be mixing banking and commerce soon.

President Clinton has announced plans to nominate Mr. Mulloy, Banking's chief Democratic international counsel, to a post at the Commerce Department. If confirmed, Mr. Mulloy would become the department's assistant secretary for market access and compliance.

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Alan Greenspan has become the poster child for affirmative action. In a half-page advertisement in the West Coast edition of The New York Times, the Greenlining Institute touted the Federal Reserve Board chairman's recent comments supporting workplace diversity.

The $2,100 ad also praises Merrill Lynch for creating a mutual fund focusing on companies that support affirmative action. Greenlining Institute general counsel Robert Gnaizda said his group bought the ad to generate support for diversity. "Twenty-one hundred dollars, we and our members can afford," he said.

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A top official at the Environmental Protection Agency has nabbed a plum job at the Office of the Comptroller of the Currency.

Edward J. Hanley will become senior deputy comptroller for administration on March 2, overseeing human resources, purchasing, facilities management, financial operations, and equal opportunity programs. He succeeds Judith A. Walter, who retired in November.

Mr. Hanley directed the EPA's effort to streamline regulatory reporting requirements and improve public access to environmental information.

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