Otting names new COO, announces reporting structure changes

The Comptroller of the Currency has named Morris Morgan as the agency’s new senior deputy comptroller and chief operating officer and announced executive-reporting structure changes that have Morgan directly overseeing the agency’s bank supervision, supervision policy, economics, compliance and community affairs, and innovation units, the agency said in a release Thursday.

The release, from the Office of the Comptroller of the Currency (OCC), says the regulator’s legal, management, risk management, and other agency functions continue to report directly to Comptroller Joseph P. Otting, who currently is also serving a dual role as acting director of the Federal Housing Finance Agency pending confirmation of a permanent director. (Mark Calabria, Vice President Mike Pence’s chief economist, has been nominated to the FHFA director’s post.)

Otting, quoted in the release, said Morgan, who has served as the head of large bank supervision, as COO “will promote even greater collaboration among the units directly involved in bank supervision and position the agency to supervise banks, savings associations, and federal branches even more successfully in the future.”

Morgan has been with the OCC since 1985. Since December 2016, he was senior deputy comptroller for large bank supervision, overseeing the nation’s largest, most complex, and internationally active banks that hold more than $10 trillion in assets, the agency said. Among other things, he also served as examiner-in-charge of Bank of America and PNC and as a deputy comptroller for large bank supervision.

Morgan holds a BBA in finance from Stephen F. Austin University in Nacogdoches, Texas, the agency said.

Morris Morgan Named OCC’s Chief Operating Officer