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 JAMES E. GILLERAN SWORN IN AS DIRECTOR OF THE OFFICE OF THRIFT SUPERVISION


12/7/2001

James E. Gilleran was sworn in today as Director of the Department of the Treasury's Office of Thrift Supervision (OTS) by Treasury Secretary Paul H. O'Neill. He was confirmed by the U.S. Senate on November 28, 2001.

As Director of the OTS, Mr. Gilleran oversees an organization that regulates and supervises 1,037 U.S. thrifts with $974 billion in assets, as well as thrift holding companies. The OTS has approximately 1,180 staff members.

Mr. Gilleran previously served as California State Banking Superintendent from 1989 to 1994, a particularly volatile economic period both for the State of California and the banking and thrift industries. He also served as Chairman of the Conference of State Banking Supervisors from 1993 to 1994, and was a member of CSBS's Bankers Advisory Council until 2000. From 1991 to 1992, Mr. Gilleran was Chairman of the State Liaison Council of the Federal Financial Institutions Examination Council.

In addition to his bank supervisory experience, Mr. Gilleran has significant bank operating experience, serving as the Chairman and CEO of the Bank of San Francisco from October 1994 until December 2000.

Mr. Gilleran is a certified public accountant and holds a law degree from Northwestern California University.

Mr. Gilleran is married with two children and resides in Washington, DC.

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