Leadership shakeup at influential FDIC office

Created by the Dodd-Frank Wall Street reform law, the OFCI is charged with supervising the country’s biggest banks, and overseeing efforts to unwind them should they fail.

The office is also charged with monitoring the health of any nonbank companies designated as “systemically important financial institutions.” The interagency Financial Stability Council, also created by Dodd-Frank, proposed the label for at least three firms earlier this month.

Wigand, who has spent more than three decades working in the federal government, will remain a senior advisor to FDIC Chairman Martin J. Gruenberg until the end of September.

“Our agency and country have benefited greatly as a result of his outstanding work,” Gruenberg said in a written statement.

Succeeding Wigand is Arthur J. Murton, who has spent more than a quarter-century at the FDIC, most recently as director of the Division of Insurance and Research (DIR).

Diane Ellis the current deputy director for financial risk management and research in DIR, will replace Murton, according to the FDIC.

The agency’s board of directors has approved both appointments, which take effect on July 28.