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Successor picked for Bair as FDIC chairman

The White House announced on June 10 that FDIC Vice Chairman Marty Gruenberg has been tapped to succeed current FDIC Chairman Sheila Bair.

Bair will be leaving the position on July 8 and has held the spot since 2006. Gruenberg has been the FDIC vice chairman since 2005 and also served briefly as acting chairman in 2006 before Bair took over.

Previous to his stint with the FDIC, Gruenberg was an aide to former Sen. Paul Sarbanes (D-Md.).

You can read the White House announcement by clicking here.

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