dChan - Q Origins Project Archive

>>9820094 2015: Promontory Financial Group

Promontory Financial Group, an IBM Company, excels at helping clients resolve critical issues, particularly those with a regulatory dimension. Promontory professionals have unparalleled regulatory experience and insight, and provide our clients with frank, proactive advice informed by best practices and regulatory expectations. Promontory is a leading strategy, risk management, and regulatory-compliance consulting firm focusing on the financial services industry. Our professionals, with deep expertise gained through decades of leadership at regulatory bodies and Fortune 100 corporations, help entities understand and implement global and national financial services regulation.

https://craft.co/promontory-financial-group

Greg Markarian

Chief Financial Officer at Promontory Financial Group LLC

https://www.zoominfo.com/p/Greg-Markarian/1713786216

Eugene Ludwig

Founder & Chief Executive Officer at Promontory Financial Group LLC

https://www.zoominfo.com/p/Eugene-Ludwig/1020412481

Ludwig was later vice chairman of Bankers Trust/Deutsche Bank and went on to found Promontory Financial Group, an IBM Company.

from 1998

Deutsche To Buy Bankers Trust

https://www.cbsnews.com/news/deutsche-to-buy-bankers-trust/

This transaction is largely responsible for placing as ASS-TON of derivatives at Deutsche Bank

Jerome Powell, current FRB Chair was also working at Banker's Trust prior to the sale to DB

Chair of the Board of Governors of the Federal Reserve: Who Is Jerome “Jay” Powell?

In 1990, Powell left Dillon-Read to work for his old boss there, Nicholas F. Brady, who had been appointed treasury secretary by President George H.W. Bush. From 1990 to 1993, Powell worked in the Treasury Department, as assistant secretary for domestic finance until 1992, and as under secretary until early 1993. Powell was credited with saving Salomon Brothers from bankruptcy after the investment bank was fined $290 million for a financial scandal by convincing Warren Buffet to take charge of the firm. In 1993, after the election of Bill Clinton, Powell left public service to work as a managing director for Bankers Trust, quitting in 1995 when it got into legal trouble for its handling of some customer accounts. He went back to work for Dillon, Read & Co. for two years, was a partner at The Carlyle Group from 1997 to 2005, and was a managing partner at the Global Environment Fund from 2008 to 2010. He also founded private investment firm Severn Capital Partners in 2006. From 2010 to 2012, Powell served as a visiting scholar at the Bipartisan Policy Center, a D.C. think tank, where he focused on persuading Congress to raise the federal debt ceiling during the debt-ceiling crisis of 2011—at the same time that Donald Trump was publicly pushing in the opposite direction. In December 2011, Powell was nominated to the Federal Reserve Board of Governors by President Obama. He took office on May 25, 2012, to fill an unexpired two-year term. In June 2014, he was confirmed by the Senate for a full 14-year term ending January 31, 2028.

http://www.allgov.com/news/top-stories/chair-of-the-board-of-governors-of-the-federal-reserve-who-is-jerome-jay-powell-171120?news=860368

from 2016

IBM Announces Planned Acquisition of Promontory to Transform Regulatory Compliance with Watson

Promontory’s 600 professionals and offerings will form the foundation of new Watson Financial Services portfolio from IBM's Industry Platforms business

https://www-03.ibm.com/press/us/en/pressrelease/50599.wss

1300 N. 17TH STREET, SUITE 1800, ARLINGTON, VA 22209

THE CDARS SERVICE-Thousands of financial institutions use CDARS®, the Certificate of Deposit Account Registry Service®, to increase profitability and franchise value. With CDARS, financial institutions can grow valuable relationships by offering access to FDIC insurance beyond $250,000 (with or without keeping the underlying deposits on balance sheet), manage liquidity, replace higher-cost funding, and reduce collateralization requirements.

HOW CDARS WORKS-Financial institutions that offer CDARS are members of the Promontory Network. When a Network member places a deposit using CDARS, that deposit is divided into amounts under the standard FDIC insurance maximum ($250,000) and is allocated among member banks, making the large deposit eligible for FDIC insurance. As a result, customers can access coverage from many institutions while working directly with just one and receiving just one regular statement from the relationship institution.

https://www.promnetwork.com/services/cdars

https://www.promnetwork.com/why-us/alliances

https://www.promnetwork.com/why-us/promontory-interfinancial-network-advantage