NYDFS names NY regulator Lawsky’s temporary replacement

Anthony Albanese to lead regulator on interim basis.

And who is Anthony Albanese? Lawsky’s chief of staff. From the NY Times:

Mr. Albanese, who is 43, has been the main negotiator for all the bank enforcement actions under Mr. Lawsky. One of his most important duties was negotiating a settlement last year with the French bank BNP Paribas for transferring billions of dollars on behalf of Sudan and other countries blacklisted by the United States.

The New York Department of Financial Services has found its replacement for its soon-departing superintendent, Benjamin Lawsky.

Lawsky is set to step down from his position as the head of New York’s top financial regulator later this month. After Lawsky’s exit, his chief of staff, Anthony Albanese, will lead the NYDFS, albeit on an interim basis.

Lawsky himself made the announcement in a memo sent to NYDFS staffers. In the memo, which was recapped by the New York Times, Lawsky said the NYDFS will be in good hands while Gov. Andrew Cuomo searches for a permanent replacement.

Here’s Lawsky’s memo, per the New York Times:

As you all know by now I will be transitioning out of my role as Superintendent next week. I am pleased to report that when I depart, Anthony Albanese, my Chief of Staff, will take over as the Acting Superintendent while the Governor’s office conducts a search for a permanent replacement.

Most of you know Anthony well. He has been by my side since we launched and has played an incredibly important role in getting DFS to where it is today. Anthony has helped lead DFS since the day he got here in 2011. He is tough but fair and passionate about doing what’s right. His appointment for this period as Acting Superintendent means business as usual for the Department.

I know that under his leadership DFS will continue all of the important initiatives we have under way while also continuing to be a smart, modern, and forward-thinking prudential regulator. I also know that you will each continue to carry out the Governor’s vision for DFS in the months and years ahead. I can’t wait to watch all that you do.

Now everyone please get back to work.

Ben

Source: New York Times