November 17, 2003

Venable Adds Two New Partners To Its Banking/Financial Services and Regulatory Groups

4 min

WASHINGTON, D.C. (November 17, 2003) –Venable LLP has added two new partners, with a combination of senior government experience and major representations in the financial services industry.Bruce O. Jolly, Jr., who represents national credit unions and other financial institutions, joins the banking and financial services practice. D.E. (Ed) Wilson, Jr., who focuses on money laundering and foreign asset control, joins the government regulation group. In the 1980s, Mr. Wilson served as acting General Counsel of the Department of Treasury.

Both attorneys join Venable from the Washington office of Shook, Hardy & Bacon LLP.

Mr. Jolly’s practice is devoted to the representation of financial institutions in regulatory matters and in the development of new financial products. He represents many of the major credit unions within the federal and state governments, including the White House, the U.S. Senate, the U.S. House of Representatives, the Department of Treasury, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the National Association of State Credit Union Supervisors. The Washington area has one of the largest credit union markets in the country. Mr. Jolly has lectured and written extensively on lending issues and financial institution law and regulation, and has testified before Congress on tax reform. He previously served as Washington counsel for the Credit Union National Association, the largest national association serving America’s credit unions. He also served as federal regulatory counsel for the Independent Bankers Association, and as an associate in the state legislative counsel’s office of the American Bankers Association.

“Venable understands both the national market and the Washington region,” said Mr. Jolly. “The firm has a strong presence throughout the mid-Atlantic market with an in-depth understanding of the different nuances of the federal, state and local players.”

Mr. Wilson spent three years in the Treasury Department rising to acting general counsel. He had previously served as associate counsel to the President and general counsel and deputy director in the White House Office of Administration. His practice focuses on cross-border financial and high-end trade transactions. With the passage of the Patriot Act and other recent legislative initiatives, institutions involved in cross-border transactions have seen the growing importance of remaining vigilant about money laundering issues.

“The increased scrutiny of financial institutions is a major issue facing the markets in the coming years,” Mr. Wilson said. “Companies should put in place safeguards to prevent dirty money from tainting their systems.”

“Venable is fortunate to be welcoming two such top-notch attorneys as Bruce Jolly and Ed Wilson. Mr. Jolly has developed a pre-eminent national practice in the representation of credit unions and other financial institutions. Mr. Wilson is a leader in cross-border financial transactions. Their public service and private practice experience has lead to extraordinary relationships within the banking community and the credit union industry,” said Ronald R. Glancz, the chair of Venable’s banking and financial services group. “Their addition will enhance our already substantial credentials both inside and outside of government.”

The firm’s banking and financial services group already has a wealth of experience from former industry regulators and senior government attorneys. Mr. Glancz served as acting Deputy General Counsel of the FDIC, was director of the litigation division of the Office of the Comptroller of Currency, and also was on the U.S. Attorney General’s Bank Fraud Enforcement Working Group. John B. Beaty was an Assistant General Counsel at the FDIC, head of the Resolution Trust Corporation’s Professional Liability Section, as well as Assistant General Counsel at the Federal Home Loan Bank Board (now the Office of Thrift Supervision). Peter E. Heyward served as a Senior Attorney in the Federal Reserve Board’s Legal Division.

Venable has brought this experience to bear in a number of high-profile banking investigations, including representing the Republic of France in a criminal investigation of Credit Lyonnais by the U.S. Attorney in Los Angeles for actions undertaken by the bank when it was owned by the French Government.

Mr. Jolly earned his J.D. (1973) and B.A. (1969) from the University of North Carolina. Mr. Wilson earned his J.D. (1976) from Georgetown University, and his B.A. (1973) with Distinction from the University of Virginia.

One of the American Lawyer’s top 100 law firms, Venable LLP has attorneys practicing in all areas of corporate and business law, complex litigation, intellectual property and government affairs. Venable serves corporate, institutional, governmental, nonprofit and individual clients throughout the U.S. and around the world from its headquarters in Washington, D.C. and offices in California, Maryland, New York and Virginia.