Former Comptroller of the Currency Joins Covington & Burling

Former comptroller of the currency John C. Dugan will rejoin ""Covington & Burling LLP"":http://www.cov.com as a partner, according to an announcement from the Washington, D.C. firm.[IMAGE]Dugan will chair the firm's Financial Institutions Group and advise clients on legal matters affected by increased regulatory requirements resulting from the financial crisis.

""With over 25 years of experience in financial institution policy, regulatory, supervisory, litigation, and legislative issues - both in private practice and in senior positions in the federal government - John brings extraordinary knowledge of financial institutions and the current legal and policy landscape,"" said Timothy C. Hester, chair of Covington's management committee. ""This will be a tremendous asset to financial institution clients addressing important regulatory, litigation, and corporate issues.""

Dugan will advise on the implementation of the Dodd-Frank Act as well as litigation and enforcement

[COLUMN_BREAK]

issues, international financial regulation, legislative and government relations issues, and financial institution mergers, acquisitions, and investments.

Prior to rejoining the firm, Dugan led the U.S. Treasury's ""Office of the Comptroller of the Currency"":http://www.occ.gov (OCC) for five years, until ""stepping down from the role"":http://dsnews.comarticles/occs-dugan-to-leave-post-on-august-14-2010-07-08 on August 14, 2010. The agency supervises more than 1,500 national banks and federal branches of foreign banks, which together hold nearly two-thirds of the assets of the U.S. commercial banking system.

Dugan was comptroller during the financial crisis and recession that resulted in regulatory and supervisory actions for national banks, including government assistance provided under the Troubled Asset Relief Program (TARP), and resolutions of large, mid-size, and community banks. Dugan also served on the board of directors of the FDIC.

Before first joining Covington in 1993, Dugan served as assistant secretary for domestic finance at the U.S. Department of Treasury and as counsel and minority general counsel for the U.S. Senate Committee on Banking, Housing, and Urban Affairs. He is a graduate of the Harvard Law School.

""Covington has an established foundation of exceptional regulatory expertise integrated with its corporate, securities, litigation, enforcement, and legislative practices,"" Dugan said. ""That combination of skills and integrated approach is exactly what I believe financial institution clients will need in the new environment, and I want to build on that foundation going forward.""