Washington, DC (Sept. 26, 2004) –Promontory Financial Group, a premiere financial and regulatory consultancy for financial institutions throughout the world, announced today the appointment of three new officers, and the opening of new offices in San Francisco and Tokyo, serving the western United States and the Asia-Pacific region, respectively.

“I am gratified by the growing demand for our services,” said Promontory founder and Managing Partner Eugene Ludwig. “These additions enhance our bench strength, deepen our expertise, and broaden our geographic reach. This is great news for Promontory and its clients alike.”

Elizabeth McCaul, Promontory’s Partner-in-Charge of its New York office, commented positively on the additions of James Rice and Doug Harris. “Doug brings an impressive background in capital markets that our clients will find very valuable,” Ms. McCaul said, adding, “Jim and I have worked closely in the past and I know he brings a first-rate understanding of Asia-Pacific markets to our work in that area.”

Mr. Ludwig offered similarly positive comments: “I know Konrad and Doug’s strengths first-hand from our work together at the OCC. Konrad, Doug and Jim Rice are terrific people to have on your team when you’re facing an issue of extreme importance and sensitivity.”

 

James Rice is Managing Director of Promontory’s recently opened Asia/Pacific office, located in Tokyo . Prior to this appointment, he served as Director of the Asia/Pacific and European Divisions of the New York State Banking Department under the leadership of then Superintendent of Banks Elizabeth McCaul, now a Promontory partner. Mr. Rice is well known in the Asian/Pacific financial services and regulatory community for his contributions to the principles of an efficient safety and soundness framework. Mr. Rice was formerly President of Aubrey G. Lanston and Tokai Securities, both New York based securities companies. Aubrey G. Lanston became the first non-U.S. primary government securities dealer under Mr. Rice’s direction. Mr. Rice began his career with Trust Company of Georgia , in Atlanta , and also worked with Citibank . He holds a BA from Southwest Missouri State University .

Douglas Harris joins Promontory as Managing Director, based in the New York office. Mr. Harris most recently served as General Counsel and Chief Operating Officer of BrokerTec Futures Exchange, LLC, which was acquired by Eurex, and BrokerTec Clearing Company, LLC. Before joining BrokerTec, Mr. Harris was a Partner in the Regulatory Risk Services Group at Arthur Andersen where he advised commercial and investment banks, hedge funds and futures commission merchants on regulatory, compliance, risk management and capital markets issues. Earlier, Mr. Harris served as Senior Deputy Comptroller for Capital Markets at the Office of the Comptroller of the Currency under then Comptroller Ludwig. Before that, he was Assistant General Counsel of JPMorgan and General Counsel and Secretary of JPMorgan Futures, Inc. Mr. Harris received his A.B. from Harvard College and his J.D. from Harvard Law School .

Konrad Alt joins Promontory as Managing Director, and will open the firm’s new San Francisco office. Prior to joining Promontory, Mr. Alt served as Executive Vice President and Chief Public Policy Officer at Providian Financial Corporation, where his responsibilities have included regulatory relations, crisis management, compliance, communications, and government relations, among other areas. Mr. Alt’s public service experience includes stints as Counsel to the U.S. Senate Committee on Banking, Housing and Urban Affairs, where his work focused on efforts to resolve the savings and loan crisis, strengthen the deposit insurance system and improve consumer protection in financial services, and as Senior Deputy Comptroller for Economic Analysis and Public Affairs and Chief of Staff to the Comptroller of the Currency, during Mr. Ludwig’s term. He has also served as a Senior Vice President of Golden West Financial Corporation and practiced law with the firm of Dewey, Ballantine, Bushby, Palmer & Wood. Mr. Alt holds a J.D. from Harvard Law School, where he was an Editor of the Harvard Law Review and an Olin Fellow in Law and Economics, an M.P.P from the Kennedy School of Government, and a B.A. from Reed College. 

 

Tokyo Office:   James A. Rice Managing Director, Asia/Pacific office   Promontory Financial Group, LLC Level 16, Shiroyama JT Trust Tower 4-3-1 Toranomon, Minato-ku Tokyo 105-6016 Japan Office: +81 354034699 Fax:  +81 354034646 Email: jrice@promontory.com   San Francisco Office:   Konrad Alt Managing Director, SF office c/o Promontory Financial Group, LLC 1201 Pennsylvania Avenue, N.W. Suite 617 Washington, DC 20004 Office: 202-662-6980 Fax: 202-783-2924 Email: kalt@promontory.com

New York Office:   Elizabeth McCaul Partner-in-Charge of the New York office Douglas E. Harris Esq. Managing Director, New York office Promontory Financial Group, LLC 280 Park Avenue 33 rd Floor West New York , NY 10017 Office:  212-365-6565 Fax:  212-365-6580 Email: NewYork@promontory.com   Washington, DC Office:   Eugene A. Ludwig Managing Partner Promontory Financial Group, LLC 1201 Pennsylvania Avenue, NW Suite 617 Washington , DC 20004 Office: 202-662-6980 Fax: 202-783-2924 Email: Washington@promontory.com