Revolving Door

Julie Williams, OCC’s Former No. 2, to Join Promontory

WASHINGTON — Julie Williams, the former longtime No. 2 at the Office of the Comptroller of the Currency, is joining Promontory Financial Group.

The move will reunite Williams, who worked at the OCC for 19 years, with Eugene Ludwig, the comptroller of the currency from 1993 to 1998 and the founder of Promontory.

Williams will serve as a managing director of the firm and director of Promontory’s domestic advisory practice.

“Promontory is in a unique position in the role that it plays advising firms,” Williams said in an interview when asked why she chose the firm. “I thought I could do more good helping firms understand and comply with government expectations — which are not always just what’s in rules and regulations — at Promontory.”

The move is also hardly a surprise. Ludwig has long been one of Williams’ biggest champions, and initially promoted her to chief counsel at the OCC (She eventually also served as first senior deputy comptroller).

“It was clearly one of the wisest decisions I made as Comptroller,” Ludwig said in an e-mail to colleagues making the announcement. “Julie has been at the center of virtually every important bank-regulatory development in the past 20 years, and it is difficult to overstate her contributions to the agency and its culture… Julie’s legal acumen is universally admired, and her rigorous, disciplined approach to problem-solving will be put to good use here.”

Rest here…