The US Office of the Comptroller of the Currency has appointed one of its senior deputy comptrollers as its first chief operating officer, a job that comptroller Joseph Otting has created as part of a major restructuring effort.

Morgan has served as senior deputy comptroller for large bank supervision since 2016. The regulatory body’s bank supervision, economics, compliance and community affairs and innovation units now report directly to him. The agency’s legal, management, risk management and other functions report to Otting.