Colleen Cassidy, Former Australian Prudential Regulation Authority Senior Official, Joins Promontory Financial Group.

WASHINGTON -- Promontory Financial Group, the premier global consulting firm for financial services companies, has named Colleen Cassidy, a former senior official with the Australian Prudential Regulation Authority, Director of Promontory Financial Group Australasia, LLP and head of the firm's office in Sydney.

Ms. Cassidy is an expert in risk measurement and management across a wide range of risk areas. Prior to joining Promontory, she led Ernst & Young's regulatory practice in Sydney.

"Colleen Cassidy is exceptionally talented and will greatly assist clients with their risk management issues at a time when the financial industry worldwide is working through enormous economic challenges," said Eugene A. Ludwig, Promontory Financial Group's founder, Chairman and Chief Executive Officer. "She brings a strong regulatory perspective to the team and is already making an impact assisting clients with new national, regional and international liquidity and capital proposals."

Ms. Cassidy will work closely with Jeffrey Carmichael, Chief Executive Officer of Promontory Financial Group Australasia, Singapore, as they build the firm's Australasia business.

Ms. Cassidy began her professional career with the Reserve Bank of Australia and joined the Australian Prudential Regulation Authority (APRA) when it was established in 1998. At APRA, Ms. Cassidy held a number of senior positions including head of Authorized Deposit-Taking Institutions Liquidity, head of Risk Models, and head of Balance Sheet and Market Risk. She was APRA's first representative on the Basel Committee's Accord Implementation Group for Operational Risk and participated in drafting the Group's first 'Range of Practice' paper on operational risk modelling.

Ms. Cassidy has extensive consulting experience within the Australian financial sector and works closely with the major financial institutions and the Australian Bankers' Association. She drafted the ABA Fact Sheet comparing the capital frameworks applied to banks in APRA and the United Kingdom Financial Services Authority.

"I am excited to be joining Promontory at a time when there is so much local and global regulatory change," Ms. Cassidy said. "I am looking forward to working with clients both locally and abroad in providing insight into regulatory matters and assisting clients in understanding the impact of proposed regulatory changes and how to implement them most effectively. The high calibre of the Promontory team, coupled with its focus on providing high-quality, genuine advice to the industry and regulators alike, will position us well as we look to build on our activities in the Asia Pacific."

Ms. Cassidy received a Joint Honours degree in Economics and Econometrics from the University of Sydney and a Master's degree in Quantitative Finance with a major in financial derivative products from University of Technology.

Ms. Cassidy joins a unique team of professionals at Promontory that includes former senior financial services regulators and executives. Promontory provides strategic advice and assistance to financial companies worldwide, with a particular focus on developing practical solutions to address regulatory, risk, compliance, capital, governance, and liquidity issues. Promontory also performs high-level due diligence.

Promontory Financial Group, headquartered in Washington, D.C., is the premier global consulting firm for financial services companies. Promontory has offices in New York and San Francisco, and affiliate offices in London, Milan, Paris, Singapore, Sydney, Toronto and Tokyo. Mr. Ludwig, former U.S. Comptroller of the Currency, founded Promontory in 2001. Visit us on the web at www.promontory.com