Stephen G. Thieke Brings Deep Regulatory and Private Sector Experience to New Role at Promontory

WASHINGTON--(EON: Enhanced Online News)--Stephen G. Thieke, an expert in financial services risk management, strategic development, and corporate governance, has been named a Senior Adviser at Promontory Financial Group, and a member of the consulting firm’s Advisory Board.

“Steve has a remarkable range of experience, shaped through many years in the top ranks of private industry and government agencies, in management and on boards, and in the U.S. and abroad”

Mr. Thieke, who is based in the New York office, brings an extraordinary blend of management, board, and advisory experience amassed over four decades in financial services regulation and the private sector to his new role. He had a 20-year career at the Federal Reserve Bank of New York before moving into the private sector in 1989, and has since held senior staff or board positions at J.P. Morgan & Co., PNC Financial Services Corp., Risk Metrics Group, and the U.K. Financial Services Authority, among other organizations.

“Steve has a remarkable range of experience, shaped through many years in the top ranks of private industry and government agencies, in management and on boards, and in the U.S. and abroad,” said Eugene A. Ludwig, Promontory’s founder and chief executive officer. “The ability to draw on his rich background and proven versatility will be a tremendous asset for Promontory and its clients.”

“I am pleased to be part of the Promontory team, and to have the opportunity to help our clients solve their most pressing problems as the financial services industry comes through a period of tremendous dislocation,” Mr. Thieke said.

At Promontory, Mr. Thieke joins a unique team of professionals that includes former senior financial services regulators and executives. Promontory provides strategic advice and assistance to many of the world’s leading financial services companies. The firm has a particular emphasis on developing practical solutions to address regulatory, risk, controls, compliance, governance, capital, and liquidity issues.

Mr. Thieke started his career at the Federal Reserve Bank of New York in 1969, and served in progressively senior management positions, rising to executive vice president. At various time during his tenure at the Reserve Bank, he oversaw Credit and Capital Markets, Banking Supervision, and Securities Operations.

He left to become a managing director of J.P. Morgan & Co. During a decade there, he was head of the Corporate Risk Management Group and later chairman of the Risk Management Committee. During his final year at J.P. Morgan, Mr. Thieke also served as chairman of Risk Metrics, a leading provider of risk management tools and information, and continued in that role for five years after J.P. Morgan spun it off as a private company. After a three-year hiatus, he rejoined Risk Metrics as lead director, chairman of the nominating and governance committee, and subsequently as chairman of the board, a role he held until Risk Metrics was sold to MSCI last year.

Over the past decade, Mr. Thieke has been particularly prominent in the financial industry in various board and advisory roles. He was member of the board of directors of PNC Financial Services Corp., and served as chairman of the Audit Committee and later as chairman of the Risk Committee. He also served two three-year terms as a non-executive director of the U.K.’s Financial Services Authority, was an adviser to the Monetary Authority of Singapore, and was a member of the global advisory board of JER Partners, a real estate investment and asset management company in suburban Washington, D.C.

Mr. Thieke worked closely with former Federal Reserve Board Chairman Paul Volcker on the Group of Thirty’s financial reform project, and was the principal author of its 2009 report, “Financial Reform: A Framework for Financial Stability.”

Mr. Thieke earned a bachelor of arts degree in economics from Manhattan College.

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About Promontory

Promontory Financial Group, headquartered in Washington, D.C., is the premier global consulting firm focused on financial services companies. Promontory has offices in New York, San Francisco, and Atlanta, and affiliate offices in Brussels, Dubai, London, Milan, Paris, Singapore, Sydney, Tokyo, and Toronto. Eugene A. Ludwig, who served as U.S. Comptroller of the Currency under President Clinton, founded Promontory in 2001.