President Donald Trump has nominated former OneWest Bank executive Joseph Otting to head up the Office of the Comptroller of the Currency (OCC).
Otting served as president and CEO OneWest after the 2009 purchase of IndyMac by an investor group led by now-Treasury Secretary Steven Mnuchin. He left OneWest in 2015 after CIT Group acquired the bank.
If confirmed by Congress, Otting would be working for Mnuchin for the second time in his career.
He would replace Acting Comptroller Keith Noreika, who took over the OCC in April after former Comptroller Thomas Curry stepped down at the end of his five-year term.
Previously, Otting held senior roles at U.S. Bank, serving as vice chairman for commercial banking, head of commercial banking in the bank’s eastern region and market president for Oregon. Prior to that, Otting held management roles at MUFG Union Bank and Bank of America.
The nomination affirms reports in February that Trump was considering Otting to head up the OCC by The Wall Street Journal and CNBC, which cited sources familiar with the matter.