Deloitte Launches Center for Banking Solutions

In addition, the professional services firm announced that Richard Spillenkothen, a former high-level federal banking regulator, will join the Center as an advisor and lead the Deloitte & Touche LLP's banking & finance regulatory consulting practice. Spillenkothen spent 30 years at the Federal Reserve Board, including 15 years as the director of the banking supervision and regulation division.

"Richard Spillenkothen is a key addition to our banking and finance team," said James H. Quigley, CEO of Deloitte & Touche USA LLP. "Under the leadership of Don Ogilvie, and with the involvement of Rich and others, the Center will play a significant role in helping banks successfully address regulatory compliance, growth and operating efficiencies with strategies to deliver value."

Headquartered in New York, the Deloitte Center for Banking Solutions will provide insight and business solutions grounded in practical, actionable strategies. As a home to seasoned banking executives and former regulators seeking to impact the industry's future, the Deloitte Center for Banking Solutions will focus its agenda on three broad themes- public policy and regulation, improving productivity and performance and growth.

In his role as independent chairman, Ogilvie will lead the development of the Center's program agenda, which will include independent and shared research, Center-sponsored executive forums and peer discussions, and industry benchmarking.

"Regulation, globalization, competition and consolidation are dramatically changing the landscape of the entire banking industry," said Ogilvie. "Underlying this is concern about the ability of banks in the United States to compete globally, as they devote greater resources to build and adapt compliance models that respond to increasing government regulation and oversight. The winners and losers of tomorrow are being shaped by these forces today."

"Collaboration, communication and multi-disciplinary solutions are fundamental to the Center's mission. Our approach will bring together leading regulators, legislators, business executives, Deloitte professionals and academics - both from within the banking sector and other industries - to address these issues broadly. We will also be looking at this from a longer- term perspective, rather than by transaction as management is often forced to do."

In his new role as leader of the banking & finance regulatory consulting practice, Spillenkothen will lead a seasoned team that works with financial institutions to develop and deploy integrated programs for identifying, measuring, controlling, and monitoring banking and compliance risks and day- to-day operational needs. The group includes former regulators and specialists with years of experience and encompasses specialization in Sarbanes-Oxley, the USA PATRIOT Act, Basel II, Anti-Money Laundering programs, loan loss reserve methodology enhancements, internal control assessments, regulatory reporting and email retention.

Spillenkothen will also be a pivotal member of the Center, where he will work on addressing issues and developing pragmatic solutions in the regulatory and compliance arena.

In his prior role as director of banking supervision and regulation for the Federal Reserve, Spillenkothen played a leading role in the agency's efforts to strengthen and modernize its approach to banking supervision and technological development. During his tenure, Spillenkothen was centrally involved in international efforts to harmonize standards, while promoting enhanced capital assessments and risk management at the largest, most complex financial organizations. Spillenkothen joined the Federal Reserve in 1976 and was appointed the director of the banking supervision and regulation division in 1991.

During his time at the agency, he served on the Basel Committee on Banking Supervision and as the chairman of the Association of Supervisors of Banks of the Americas. He also represented the Federal Reserve on domestic interagency policy and coordination committees, including the Federal Financial Institutions Examination Council's Supervision Task Force.

"Regulatory concerns continue to command the attention of banking executives across the nation," said Spillenkothen. "Deloitte's banking and finance industry group has impressive professionals, tremendous resources and a rich service offering that respond to many of the issues I addressed at the Federal Reserve. I am looking forward to working with my new colleagues and bankers to bring fresh perspectives and innovative solutions to what the industry faces."

"The addition of Rich Spillenkothen and the launch of the Center illustrate Deloitte's continued emphasis on the banking industry," said Edward Carey, vice chairman and national managing partner of U.S. industries at Deloitte & Touche USA LLP. "Like the Deloitte Center for Health Solutions and other Deloitte Centers, this also underscores Deloitte's emphasis on initiatives around industries undergoing transformation, which require a new approach and a different kind of dialogue entirely. The Center for Banking Solutions underscores our commitment to delivering industry knowledge and solutions to our clients and will be a benefit to the banking industry as a whole."