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Federal banking regulator names first COO

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Federal banking regulator names first COO

The Office of the Comptroller of the Currency named Morris Morgan to serve as senior deputy comptroller and chief operating officer, its first in the agency.

Comptroller of the Currency Joseph Otting created the position as part of changes to the agency's executive reporting structure to better coordinate and integrate the agency's bank supervision activities.

In the new role, the OCC bank supervision, bank supervision policy, economics, compliance and community affairs, and innovation units will report directly to Morgan. The agency's legal, management, risk management, and other agency functions will continue to report to Otting.

Morgan has worked as senior deputy comptroller for large bank supervision since December 2016 at the agency, overseeing the nation's largest banks.

Morgan's new position is effective immediately.