BALTIMORE — Maryland Department of Labor, Licensing and Regulation Secretary Thomas Perez has appointed Sarah Bloom Raskin as the new Maryland commissioner of financial regulation, effective Aug. 28.

"Sarah is bringing her vast experience and passion as a 'bank doctor,' working with domestic and international institutions on preventive maintenance, responding to problems and helping institutions establish charters in states, to the department," Perez said.

Bloom Raskin currently serves as managing director of Promontory Financial Group where she works with banks and other financial institutions on a wide range of regulatory, governance, ethics, consumer and other issues. In addition, she served as counsel to the Senate Committee on Banking, Housing and Urban Affairs, under former Senator Paul Sarbanes (D-Md.). She also served as a member of the Consumer Council of the Maryland Attorney General under former Attorney General Joe Curran.