NEW YORK, July 24, 2019 /PRNewswire/ -- New York Private Bank & Trust (NYPB&T) and its operating bank, Emigrant, announced today that Maria T. Vullo, who served until February as Superintendent of the New York State Department of Financial Services (DFS), has been elected as a member of the Board of Directors of Emigrant and NYPB&T. Ms. Vullo has more than thirty years of experience in banking law, regulation and compliance, spanning the private, public and nonprofit sectors.
From 2016 to 2019, Ms. Vullo served as the Superintendent of the New York State DFS, nominated by Governor Andrew M. Cuomo and confirmed by the New York State Senate. As Superintendent, Ms. Vullo led the agency responsible for regulating New York State's financial services industries, promulgating key regulations that include landmark cybersecurity and transaction monitoring regulations, and a "best interests" regulation for life insurance and annuities.
Prior to this, Ms. Vullo was a partner with the international law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP, where for more than 25 years she litigated significant civil, regulatory and criminal matters, and advised clients regarding securities, banking, insurance, real estate and other matters. Ms. Vullo also served as Executive Deputy Attorney General for Economic Justice in the Office of New York Attorney General Andrew Cuomo, where she led the Economic Justice Division, supervising the Bureaus of Antitrust, Consumer Frauds, Internet, Investor Protection, and Real Estate Finance.
Howard P. Milstein, Chairman, President and CEO of NYPB&T and Emigrant, said: "We are thrilled to have Maria join as a Director. Her depth of experience in financial services regulation and operations will greatly enhance our ability to provide innovative services to a range of customers in the markets we serve. She will be a great addition to our Board."
"I am honored to bring my experience to Emigrant's board," Ms. Vullo said. "Emigrant has a storied history and unique array of offerings in financial services and related businesses. I look forward to drawing on my background in law, public policy, and technological innovation as a member of the Board."
Since ending her tenure as Superintendent of DFS in February, Ms. Vullo has served as a Regulator in Residence at Fintech Innovation Lab's Partnership Fund for New York City, where she provides counseling and mentorship to enterprise technology companies. She is also a Senior Fellow at New York University (NYU) School of Law's Program on Corporate Compliance and Enforcement, and has recently launched Vullo Advisory Services, PLLC (www.vulloadvisory.com), which offers strategic advisory services in financial services and insurance regulation, compliance, cybersecurity and emerging technologies.
Ms. Vullo received a J.D. from NYU School of Law, an MPA from NYU Wagner's Graduate School of Public Service, and a BA and Honorary PhD from the College of Mount Saint Vincent. She is admitted to the Bars of the State of New York, U.S. Supreme Court, multiple U.S. Courts of Appeals and District Courts, and the U.S. Tax Court.
About New York Private Bank & Trust (NYB&T) and Emigrant Savings Bank
Founded in 1850 to serve the financial needs of a growing America and a dynamic emigrant population, New York Private Bank & Trust (NYPB&T) and its operating bank, Emigrant, is the largest privately held, family owned and operated bank in America. Emigrant offers a full range of deposit and home mortgage products, and also specializes in meeting the needs of wealthy individuals, families, endowments, foundations and corporations, directly and through its various subsidiaries: Emigrant Capital, New York Private Trust (including fully-integrated banking, custom lending, insurance services, and trust administration services), Emigrant Fine Art Finance, Personal Risk Management, Galatioto Sports Partners and New York Private Bank & Trust.