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NYDFS chief to resign

Chris Hamblin, Editor, London, 20 December 2018

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Maria Vullo, the New York Superintendent of Financial Services, has decided to step down from her post on 1 February.

Among her accomplishments are a cyber-security regulation she promulgated in March last year that is now the national standard for the US. She has stated that it has been a privilege for her to serve in the job, "particularly during a time when DFS’s voice has been vital to protecting New Yorkers from federal government actions." She did not say in her resignation speech, published on the NYDFS's website, why she was leaving or where she was going. She mentioned her leaving date of 1 February in a recent interview.

The Wall Street Journal says that New York Governor Andrew Cuomo has not yet chosen Vullo's successorbut is thinking of appointing Linda Lacewell, his chief of staff. She used to be a prosecutor and has worked under Cuomo since he became New York's attorney general in 2007. Before taking up her present job in 2017, she oversaw a cadre of risk and compliance officers in various state agencies. Between 1997 and 2007 she was an assistant US attorney in the Eastern District of New York, also serving as a member of the US Department of Justice's Enron Task Force.

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