Gould Resigns as California Commissioner of Financial Institutions

SACRAMENTO, Calif. – Howard Gould, who was appointed Commissioner of Financial Institutions of California by Gov. Arnold Schwarzenegger effective March 1, 2004, has resigned from the position effective Sept. 30, 2005. In his letter to the governor, Gould wrote that, “During the past year and one-half it has been my privilege to serve you and your Administration as California’s Commissioner of Financial Institutions. As you know, I joined the Schwarzenegger Administration with my mind focused on a set of explicit objectives to be achieved at the Department of Financial Institutions, and a clear philosophical alignment with your Administration in the goals of dramatically improving governmental effectiveness and customer service. As we look at the Department today, I am very satisfied that the preponderance of my objectives is well addressed, and I feel that my mission has been served.” He further stated that, “As I discussed with you at the outset of my service, my motivation to become Commissioner, and my dedication to the position, was solely to make a strong positive contribution to California’s financial services sector and its regulatory supervision. Having delivered on that mission, it is with pride in achievement on one hand, and regret on the other, that I inform you of my intention to relinquish my appointment as Commissioner.” Prior to working in the position under Gov. Schwarzenegger, Gould held the similar position of superintendent of Banks during the Administration of Gov. George Deukmejian. Most of his career, though, has been spent in executive management of banks such as United California Bank and Sanwa Bank.