Partner, Davis Polk & Wardwell LLP
Mr. Douglas is a partner in Davis Polk’s Financial Institutions Group, heading the firm’s bank regulatory practice and focusing on bank restructuring and resolutions and other issues arising from the current banking and financial crisis. He has been involved in some of the most difficult and sensitive matters during the crisis, including advising the boards of directors of Indymac and Bank United, counseling Citigroup with respect to FDIC matters, advising various parties on the fallout from the failure of Washington Mutual and advising various private equity firms on proposed investments in troubled or failed banks.
Mr. Douglas was appointed General Counsel of the Federal Deposit Insurance Corporation in 1987 and continued in that capacity through 1989. This was a period of unprecedented stress on the financial system, and he was involved in the major bank failures and restructurings of the late 1980s, participated in the landmark Financial Institutions Regulatory Reform and Restructuring Act of 1989 and assisted in the organization of the Resolution Trust Corporation.
Mr. Douglas is regarded as one of the leading bank insolvency lawyers in the nation.
General Counsel, University of Kentucky & Former Solicitor General of Virginia, University of Kentucky
William E. Thro, the General Counsel of the University of Kentucky, is an accomplished university attorney, appellate advocate, and legal scholar.
As the Chief Legal Officer for the University of Kentucky, he provides proactive strategic advice on critical legal and policy issues confronting a public flagship land grant research university with an integrated academic medical center and a high profile athletics program. Before assuming his present position in 2012, he spent more than twenty years representing public universities including eight years as the first in-house counsel at Christopher Newport University.
As Solicitor General of Virginia for four years, he was responsible for the Virginia State Government’s U.S. Supreme Court litigation (except capital cases) as well as lower court appeals involving the constitutionality of statutes or politically sensitive issues. He argued two cases in the U.S. Supreme Court and numerous cases in the lower appellate courts. He co-authored seven U.S. Court merits briefs, eleven U.S. Supreme Court amicus briefs, and more than fifty briefs at the petition stage. He received two Best Brief Awards from the National Association of Attorneys General.
As a legal scholar, he focuses on constitutional law in educational contexts. He has more than sixty publications in law reviews or peer reviewed journals as well as numerous monographs, book chapters, and encyclopedia entries. In recognition of his scholarly work, he received Stetson University’s Kaplin Award for Excellence in Higher Education Law & Policy Scholarship (2014) and became a Fellow of both the National Education Finance Conference (2012) and the National Association of College and University Attorneys (2007).
He has served as President of the Education Law Association, Chair of the Virginia Bar Association’s Appellate Practice Section, Board Chair for a local Red Cross Chapter, on the Boards of both the National Association of College & University Attorneys and the National Education Finance Academy, and an Elder in the Presbyterian Church (U.S.A.).
A native of Kentucky, he received his undergraduate degree summa cum laude from Hanover College. In addition to receiving the Crowe Citation as the outstanding male in his class, he was the first Hanover student to become a Harry S. Truman Scholar. He earned a graduate degree with honours from the University of Melbourne while attending as a Rotary Foundation International Ambassadorial Scholar. His law degree is from the University of Virginia where he was a published member of the VIRGINIA LAW REVIEW and research assistant to constitutional law professor A.E. Dick Howard. He began his legal career as a judicial clerk to the late Judge Ronald E. Meredith of the U.S. District Court for the Western District of Kentucky in Louisville.
He is married to the Rev. Dr. Julie Urback Thro and has two children in college (Sandra, Will) and one in high school (Noah).
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Managing Director, Promontory Financial Group, LLC
Bill brings an exceptional blend of experience and insights to his work with clients, having been a banker, California’s Commissioner of Financial Institutions, and a member of the Financial Stability Oversight Council. He works with financial institutions on corporate governance and organizational design, compliance program design and implementation, anti-money laundering programs, senior management reviews, and strategic planning.
Bill’s financial services experience spans the corporate sector, the executive branches of both state and federal government, academia, and think tanks. He earned a reputation as an open, fair, and pragmatic regulator during four years as Commissioner of Financial Institutions in California, leading the agency through a period of economic upheaval both in the state and nationwide. His vast knowledge and understanding of the financial system led to his selection as the state banking supervisors’ representative on the Financial Stability Oversight Council, a federal agency created by the Dodd-Frank Act to foster coordination among financial regulators in order to identify systemic risks to the nation’s financial stability.
Before his appointment to state office, Bill was an independent consultant with Promontory while also serving as a visiting professor of economics and finance for the Graduate School of Management at the University of California-Davis. He worked on a wide array of client engagements at Promontory, in areas that included governance, due diligence, compliance, and strategy.
During nine years with Bank of America, Bill was managing director of Banc of America Securities and senior vice president of strategic policy development and planning for the bank. Earlier, he worked for five years as director of policy analysis for Citicorp.
Bill was J. Edward Lundy Scholar and director of the financial markets project at the American Enterprise Institute for Public Policy Research. He served under President Reagan as senior staff economist and special assistant to the chairman of the Council of Economic Advisors.
Resolution Authority over Systemically Important Financial Companies
John L. Douglas
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The Spending Clause Implications of Rumsfeld V. Forum for Academic and Individual Rights
William Thro
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International Monetary Policy: The Asian Crisis and Beyond
Ian Vasquez, William Lash, Bert Ely, William Haraf
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