Obama Picks Martin Gruenberg to Succeed Bair at FDIC
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President Barack Obama intends to nominate Federal Deposit Insurance Corp. Vice Chairman Martin J. Gruenberg to succeed Sheila Bair as chairman, according to a White House statement.
Gruenberg has served as the agency’s vice chairman since 2005, and served as acting chairman for six months in 2005 and 2006. Obama announced his selection in an e-mailed statement today. Bloomberg News previously reported Obama’s decision.