Former SoFi GC named OCC chief counsel

Yahoo

3 days ago

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter.
Former SoFi general counsel Adam Cohen has been tapped to become the Office of the Comptroller of the Currency's senior deputy comptroller and chief counsel.
Cohen, who will join the OCC from the law firm Skadden, Arps, Slate, Meagher & Flom LLP on Aug. 11, spent two years at SoFi from 2022 to 2024, according to his LinkedIn profile, joining shortly after the fintech obtained its charter from the OCC.
He also previously served as counsel to the banking regulation and policy group of the Federal Reserve Board, and for the Commodity Futures Trading Commission's division of clearing and risk, according to his Skadden bio.
'Adam's unparalleled background in banking law and regulation, together with his depth of hands-on experience working on financial services matters as a regulator, in-house general counsel, and external advisor bring tremendous value to the OCC,' said Comptroller Jonathan Gould in a press announcement Wednesday.
Cohen will oversee the regulator's legal arm, providing analyses and advisory services on bank supervision, enforcement, administrative, litigation and licensing actions.
He will also advise on policy and operations initiatives within the OCC, will serve on its executive committee and will provide advice to Gould and other senior OCC executives.
'Adding a seasoned professional of Adam's caliber to the OCC's executive committee strengthens the agency's efforts to ensure a safe and sound federal banking system, improve bank supervision and regulation, embrace innovation, and promote fair access to financial services,' Gould said.
At Skadden, Cohen co-leads the firm's financial institutions regulatory group, advising global and regional banks, fintech and other financial institutions on regulatory matters such as mergers and acquisitions, charters, stablecoin and digital asset issues and compliance.
He advised BlackRock on its $12 billion acquisition of HPS Investment Partners, completed earlier this month, and its $3 billion acquisition of Global Infrastructure Partners, completed in October. Last year, he also advised Citi on its separation of Banamex and Fortress Investment Group on its investment in bank holding company First Foundation.
'Although I am sad to be leaving my colleagues at Skadden, who are among the best and most dedicated lawyers in the business, I am honored to be appointed as the next Chief Counsel of the Office of the Comptroller of the Currency,' Cohen wrote on LinkedIn.
'I am thankful to Comptroller Jonathan Gould for the opportunity to support a safe and sound banking system that embraces innovation and promotes fair access to financial services,' he wrote.