Troutman Pepper partner, Alexandra Steinberg Barrage, was quoted in the November 19, 2024 American Banker article, “Trump’s FDIC has work cut out for it in repairing culture.”
“The next phase of the agency’s cultural change will involve addressing deeper and systematic issues at the FDIC,” she said.
“I know senior people with years of experience who unfortunately left the FDIC because of an inflexible attitude towards [remote work],” she said.
Alex Barrage also stated, “The FDIC’s new chair should have a clear vision for implementing steps to improve staff morale across the agency.”
Alex was also paraphrased that she is seeing positive signs, like the FDIC’s recent decision to tap Carrie H. Cohen, partner at Morrison Foerster LLP, to serve as the agency’s independent cultural transformation monitor. But while part of the challenge is reforming the behavior of the current staff at the FDIC, another related challenge is creating a workplace that will attract new employees — whose ranks are already thin.
“Carrie Cohen’s involvement is a positive step, but there’s a lot of work to be done across FDIC leadership. It’s not just about improving staff morale for current staff,” she noted. “It’s also about recruiting people to the FDIC who are committed to the mission and want to serve.”
