U.S. markets closed

U.S. Office of the Comptroller of the Currency names Coinbase exec as its chief operating officer

Yilun Cheng

The U.S. Office of the Comptroller of the Currency (OCC) has named Coinbase chief legal officer Brian Brooks as its next Chief Operating Officer and First Deputy Comptroller, starting April 1, 2020. 

Brooks has been working as Coinbase's CLO since September 2018, leading its legal, compliance, and government relations efforts.

According to a Monday announcement by the OCC, he is set to resign from Coinbase and replace Morris Morgan as the OCC's Chief Operating Officer. The OCC is an independent bureau within the Treasury Department and is responsible for charting and regulating national banks within the United States.

Brooks is also a board member of mortgage loan company Fannie Mae but will step down from that post following his appointment.

"Brian Brooks is a strong leader with extensive experience in the financial services sector," Treasury Secretary Steven Mnuchin, who designated Brooks as the OCC’s first deputy comptroller, said in a statement. "I look forward to working with him to ensure the stability of our financial system and its ability to foster greater economic growth for the benefit of all Americans."