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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release October 5, 2000

PRESIDENT CLINTON NAMES JOHN M. REICH AS A MEMBER OF THE FEDERAL

DEPOSIT INSURANCE CORPORATION

The President today announced his intent to nominate John M. Reich as a member of the Federal Deposit Insurance Corporation.

Mr. John M. Reich, of Alexandria, Virginia, currently serves as the Chief of Staff for Senator Connie Mack. In this capacity, he directs and oversees the offices and committee activity, including legislative, press, scheduling, constituent service, and other administrative functions. Additionally, he oversees management of the Joint Economic Committee and Senate Republican Conference, of which Senator Mack is Chair. Mr. Reich previously served as the President and CEO of the National Bank of Sarasota and the First Commercial Bank in Fort Myers, Florida.

Mr. Reich earned his B.S. degree from Southern Illinois University and a M.B.A. from the University of South Florida.

The Federal Deposit Insurance Corporation is an independent agency, which insures banks and thrifts and resolves and liquidates failed institutions. The Corporation also has regulatory functions such as examining state-chartered banks periodically. It is one of four Federal bank thrift regulatory bodies, with the Office of the Comptroller of the Currency, the Board of Governors, the Federal Reserve System, and the Office of Thrift Supervision.

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