James Martin will be the new acting director of the Treasury Department’s Office of Financial Research (OFR), replacing Dino Falaschetti, who is leaving, the agency said Friday. Martin’s appointment is effective Feb. 28, Treasury said.
Martin is now the deputy director of operations for OFR, which was set up under the 2020 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to provide financial research to all federal financial institution agencies.
Treasury gave no reason for Falaschetti’s departure. An appointee of President Donald Trump (R ), he took office in 2019.
“We thank Director Falaschetti for his public service and wish him well in his future endeavors,” Treasury’s Under Secretary for Domestic Finance Nellie Liang said. “We’re also thankful to James Martin for his willingness to take on the role of Acting Director at this time. The OFR plays a critical role in promoting financial stability by performing essential research and collecting and standardizing financial data.”
The Treasury said that, as OFR deputy director of operations, Martin oversees the office’s budget, human capital, administrative support, procurement, facilities, and emergency management programs. He is also responsible for organizational policy, performance, and planning, as well as communications.
The department said he has a master’s degree and a bachelor’s degree, both in business administration, and also holds an executive certificate in international business management. He is a U.S. Air Force veteran, Treasury added.