Governor Shapiro Nominates Secretary of Banking and Securities
July 07, 2023
Harrisburg, PA – Today, Governor Josh Shapiro announced he is nominating Wendy Spicher to be Secretary of Banking and Securities. Spicher has previously served the Pennsylvania Department of Banking and Securities (DOBS) as Interim Acting Secretary and Deputy Secretary for Depository Institutions.
“Wendy Spicher has decades of experience ensuring the safety and soundness of Pennsylvania’s financial institutions, and I am proud to have her continue serving on my team,” said Governor Josh Shapiro. “I have complete confidence in Acting Secretary Spicher and the rest of my cabinet to bring people together to solve problems, create opportunities for Pennsylvanians, and ensure that state government works for the people.”
“It is an honor to be named the next Secretary of Banking and Securities,” said Acting Secretary Wendy Spicher. “I am excited by the opportunity to continue serving the Commonwealth alongside Governor Shapiro and look forward to ensuring consumers and businesses in Pennsylvania are well-informed about our financial institutions.”
Read more about Acting Secretary Spicher below.
Wendy S. Spicher has served the Department of Banking and Securities as Interim Acting Secretary and Deputy Secretary for Depository Institutions, a role she has held since 2008. Her career in the banking industry spans over 25 years and includes senior level positions in both the public and private sector. As Deputy Secretary for Depository Institutions, Ms. Spicher’s responsibilities include the chartering, regulation, supervision and examination of all Pennsylvania state-chartered banks, credit unions and non-depository trust companies.
Ms. Spicher began her banking career as a commissioned bank examiner for the Federal Deposit Insurance Corporation (FDIC) in the New York region. She made the transition to private sector when she joined Dauphin Deposit Bank. Ms. Spicher has served as vice president of Allfirst Bank, a subsidiary of Allied Irish Banks (now M&T Bank) and was a member of the bank’s senior loan committee developing an extensive knowledge and expertise in corporate lending, credit administration, and general bank operations. She has also served as vice president of private wealth management at PNC Bank and Mellon Bank (now Mellon BNY) acquiring expertise in asset management and trust operations. In August 2006, Ms. Spicher joined the Department as Director of the Office of Economic Development. In this role, she assisted bankers in the utilization of state loan and loan guarantee programs to help businesses grow and create jobs in Pennsylvania. At the request of the Secretary, Ms. Spicher represented the Department as a voting member of Pennsylvania Industrial Development Authority (PIDA), First Industries Fund, Second Stage Loan Program and Pennsylvania Minority Business Development Authority (PMBDA).
Presently, Ms. Spicher serves on the Performance Standards Committee (PSC) for the National Association of State Credit Union Supervisors (NASCUS). The PSC serves as the policy-making body of the NASCUS Accreditation Program where it sets the standards that must be met by credit union state supervisors to earn and maintain NASCUS Accreditation. She also serves on the Department’s Cybersecurity and RRREV-up taskforces.
Ms. Spicher previously served on the Conference of State Bank Supervisors’ (CSBS) Performance Standards Committee which governs Bank and Mortgage accreditation programs of state regulators and she represented CSBS on the Federal Financial Institutions Examination Council (FFIEC) Task Force on Examiner Education. She is a CSBS Certified Examinations Manager and was Series 7 and 63 licensed by the Financial Industry Regulatory Authority (FINRA).
Ms. Spicher is a graduate of the Pennsylvania State University where she earned a degree in business administration with a major in finance and an emphasis on economics. She also studied at the School of Business Administration (ESAN) in Lima, Peru, and graduated with highest honors from the Pennsylvania Bankers Association Advanced School of Banking.
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