Fed picks new head for banking supervision division

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Michael Gibson was on Wednesday announced as the new director of the division of banking supervision and regulation at the US Federal Reserve, effective January 1, 2012.

Gibson is currently a deputy director in the Fed's division of research and statistics with special expertise in risk management and financial markets. He succeeds Patrick Parkinson, who is retiring after a career spanning more than 30 years at the Fed.

The banking supervision and regulation division develops regulatory policy

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