SACRAMENTO, Calif. — California Governor Arnold Schwarzenegger recently announced the appointment of Michael Kelley as the new state commissioner of financial institutions.
"Californians expect safety and soundness from financial institutions. Michael has more than three decades of experience in managing fiscal and business affairs and I look forward to him upholding the high standards that consumers and businesses deserve," Schwarzenegger said.
Kelley, 55, has served as acting commissioner since last June. Before that he was chief financial and administrative officer for the Secretary of the Business, Transportation and Housing Agency from 2004 through 2006. He has more than 33 years of service with the State of California.
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"Financial institutions play a vital role in California's economy. I am proud that Governor Schwarzenegger has appointed me to uphold public confidence in financial services as the industry continues to grow," Kelley commented. He holds a master's degree in public administration and a bachelor's degree in economics from California State University, Sacramento.
California DFI supervises over 700 financial institutions with assets totaling over $290 billion.
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