Benjamin W. McDonough Named OCC Chief Counsel

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today named Benjamin W. McDonough its Senior Deputy Comptroller and Chief Counsel.

“Ben brings a fresh perspective, deep bank regulatory experience, and strong interagency relationships to our leadership team,” said Acting Comptroller of the Currency Mike Hsu. “His strong collaboration skills and demonstrated ability to work effectively across teams and agencies will prove invaluable as we tackle the challenges and opportunities ahead.”

Mr. McDonough joins the OCC from the Federal Reserve Board of Governors where he served as Associate General Counsel in the Legal Division. He joined the Federal Reserve Board in 2008, and during his time there, he worked on a variety of regulatory and supervisory matters, including the rules governing the Federal Reserve’s stress testing program and acting as legal advisor to the Federal Reserve’s large bank supervision program. He also served as Acting Special Advisor to the Vice Chair for Supervision, Randal K. Quarles, and from August 2014 through July 2015, he was a secondee to the European Central Bank’s Legal Division. Prior to joining the Board, Mr. McDonough was a Senior Attorney at the Federal Deposit Insurance Corporation, where he began his career as an Honors Attorney. He holds a juris doctor from the University of Michigan Law School, and a master of public policy and bachelor of arts also from the University of Michigan.

Mr. McDonough will assume his new role on June 7, 2021.

Mr. McDonough is taking over from Jonathan Gould who has held the office since December 2018. Mr. Gould plans to return to the private sector.

“The agency was fortunate to have someone of Jonathan’s caliber as head of its legal team and a member of its executive leadership,” Mr. Hsu said. “Jonathan worked tirelessly to support the agency’s mission and the safety and soundness of the federal banking system. I know everyone at the agency joins me in wishing him the best in his future endeavors.”