OTS CHIEF COUNSEL CAROLYN BUCK ANNOUNCES RETIREMENT; JOHN BOWMAN NAMED AS SUCCESSOR

Office of Thrift Supervision

FOR RELEASE at 11:00 A.M. EDT		For further information
Tuesday, April 20, 2004		Contact: Chris Smith
OTS 04-11		202/906-6677

OTS CHIEF COUNSEL CAROLYN BUCK ANNOUNCES RETIREMENT; JOHN BOWMAN NAMED AS SUCCESSOR

WASHINGTON – Carolyn J. Buck announced today her intention to retire from the Office of Thrift Supervision (OTS) effective May 29, 2004, after over 30 years of government service, including the past 11 years as Chief Counsel of OTS. In this position, Buck has management responsibility for the legal staff at OTS, including those in the four OTS regions.

She joined OTS in June 1990 from the Department of Housing and Urban Development, where she had served in various management and staff positions in HUD’s general counsel’s office since 1971. After joining OTS, Buck served successively as Senior Deputy Chief Counsel of Litigation and Enforcement and Acting Chief Counsel before being named Chief Counsel in November 1994.

Buck received a bachelor’s degree from the University of Minnesota and her juris doctor degree with honors from George Washington University.

OTS Deputy Director Rick Riccobono said that, “Carolyn has helped OTS meet the extraordinary challenges we’ve faced this past decade with her exceptional legal skills, good humor, and effective leadership.”

John E. Bowman has been named to serve as Chief Counsel for OTS effective with Buck’s departure.

Bowman joined OTS in June 1999 as Deputy Chief Counsel for Business Transactions, heading the agency’s division that provides legal services related to corporate applications, acquisitions and financing transactions, securities filings, mutual-to-stock conversions and other related activities. He also oversees OTS’s regional counsel and enforcement operations.

Immediately prior to joining OTS, he was partner with the law firm of Brown & Wood LLP in Washington, DC, specializing in government and corporate finance, securities and financial services regulation. Before entering private practice, he served for 14 years at the U.S. Department of the Treasury, including seven years as the Assistant General Counsel for Banking and Finance. He provided counsel on a broad range of issues — ranging from financial modernization legislation to financing the Federal debt — to the Under Secretary for Domestic Finance; the Assistant Secretaries for Financial Institutions Policy, Financial Markets and Economic Policy; and the Fiscal Assistant Secretary.

Earlier, he served as a senior attorney in the Office of the General Counsel at the U.S. Department of Agriculture, working on a variety of issues related to government, corporate, energy and public utility financing.

He received a bachelor’s degree from the University of California and a juris doctor from Pepperdine University School of Law.

During his government career, he has been the recipient of numerous awards and honors including the Presidential Rank Award and the Secretary of the Treasury’s Distinguished Service Award.

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The Office of Thrift Supervision (OTS), a bureau of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.