Former CalChamber Board Chair Assumes Role as U.S. Comptroller of the Currency

Joseph M. Otting

Joseph M. Otting, 2015 chair of the California Chamber of Commerce Board of Directors, is scheduled to be sworn in as U.S. Comptroller of the Currency today.

Before his federal appointment, Otting had more than two decades of experience in the banking industry, most recently as president and CEO of OneWest Bank, N.A., the post he held while chair of the CalChamber Board.

The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.

Otting was confirmed by the U.S. Senate on November 16 by a vote of 53-43. He replaces Keith Noreika, who had been acting comptroller since May 2017.

Otting became president, CEO and a member of the board of OneWest Bank, FSB, in October 2010.

Before joining OneWest Bank, Otting served as vice chairman of U.S. Bancorp, where he managed the Commercial Bank Group and served on the Bancorp’s managing committee. He also served as a member of the board of directors for U.S. Bank’s main subsidiary bank.

From 1994 to 2001, Otting was with Union Bank of California, where he was executive vice president and group head of commercial banking.

Before joining Union Bank, he was with Bank of America, where he held positions in branch management, private banking and commercial lending.

Otting holds a bachelor of arts degree from the University of Northern Iowa.