The Federal Deposit Insurance Corporation (FDIC) today announced the hiring of Joseph A. Jiampietro as Senior Advisor for Markets to FDIC Chairman Sheila Bair. In this new position, Mr. Jiampietro will provide the Chairman with policy and legal advice relating to complex financial transactions, bid structures, and capital markets.

In announcing the position, Chairman Bair said, "I believe that the FDIC will benefit greatly from Mr. Jiampietro's extensive markets and transactional expertise as the Corporation assumes broader responsibilities in significant and complex financial programs. We are pleased to have him join our team."

Mr. Jiampietro previously served as Managing Director of the Financial Institutions Group at J.P. Morgan in New York since 2007, with responsibility for delivering merger and acquisition and corporate finance advice to depository institutions. Prior to joining J.P. Morgan, Mr. Jiampietro was a Managing Director in the Financial Institutions Group of UBS Investment Bank, where he was also head of Financial Institution Capital Markets. Mr. Jiampietro has spent 11 years in investment banking, providing strategic advice to financial institutions. Prior to his career in investment banking, he was an associate practicing corporate law at Simpson Thatcher and Bartlett. Mr. Jiampietro served as Legal Counsel with the United States Senate Committee on Banking, Housing and Urban Affairs during the 104th Congress.

Mr. Jiampietro received a B.A. in government, magna cum laude, from Dartmouth College and a J.D. from Columbia University School of Law, where he was a Harlan Fiske Stone Scholar. Prior to law school, he participated in the Junior Fellows Program of the Carnegie Endowment for International Peace and the internship program at the Arms Control Association.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,305 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). FDIC-PR-47-2009