FDIC Vice Chairman May Replace Bair

The Federal Deposit Insurance Corporation’s (FDIC) vice chairman, Martin Gruenberg, is likely to replace Sheila Bair as chairman.

The Federal Deposit Insurance Corporation’s (FDIC) vice chairman, Martin Gruenberg, is likely to replace Sheila Bair as chairman, The Wall Street Journal reports. Bair, who has been serving as the chairman since 2006, is planning to step down when her term expires later this year.

If nominated, Gruenberg’s appointment would be subject to approval by the U.S. Senate. Before joining the FDIC, he was working as a senior counsel to former Senator Paul Sarbanes.

Click here for the story from The Wall Street Journal.