James B. Lockhart III is the Vice Chairman of WL Ross & Co. where he focuses on financial services and the mortgage recovery fund. Prior to joining in September 2009 he was the Director of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks and its predecessor agency since May 2006. He served as the Chairman of Federal Housing Finance Oversight Board and a member of the Financial Stability Oversight Board with the Chairman of the Federal Reserve Board (chair) Secretaries of Treasury and HUD, and Chairman of SEC. He was confirmed by the U.S. Senate on June 15, 2006 for the prior 4 years. Mr. Lockhart was the Deputy Commissioner and Chief Operating Officer of Social Security, Secretary to Board of Trustees and a member of the President Bushs Management Council. Lockhart also served in the previous Bush Administration as Executive Director of the Pension Benefit Guaranty Corporation from 1989 until 1993.Mr. Lockhart co-founded and served as managing director of NetRisk, a risk management software and consulting firm serving major financial institutions, banks, insurance companies and investment management firms worldwide. He has an extensive background in financial services including insurance, investment banking and pensions. He held senior positions at National Reinsurance, Smith Barney, Alexander & Alexander and Gulf Oil, in Europe and the U.S. He has served as a member of the American Benefits Councils Board of Directors and of the Advisory Board to the Task Force for the Critical Review of the US Actuarial Profession.He graduated from Yale University with a bachelors degree and received a masters degree from Harvard Business School. He served as a Lieutenant (j.g.) in the U.S. Navy aboard a nuclear submarine.
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