Former OCC Lawyer Robert Clark Joins Arnold & Porter's Financial Services Group

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Washington, D.C., July 31, 2007 - Arnold & Porter announced today that regulatory and enforcement banking lawyer Robert Clark has joined the firm as counsel in Washington, D.C.  Mr. Clark previously served as a senior attorney for the Enforcement and Compliance Division of the U.S. Office of the Comptroller of the Currency (OCC) and as an enforcement attorney for the Board of Governors of the Federal Reserve System.

Mr. Clark joins Arnold & Porter's preeminent financial services practice, which consists of a team of over thirty lawyers who provide U.S. and international financial institution clients with comprehensive regulatory, litigation, and transactional services.  The group handles complex regulatory and transactional issues and litigates cases involving the financial services industry at the administrative level and in the state and federal courts, including the U.S. Supreme Court.  The group expanded in 2006 with the addition of Brian McCormally, former Director of the Enforcement and Compliance Division at the OCC.

Commenting on Mr. Clark's arrival, A. Patrick Doyle, head of the financial services practice, said, "Bob will be a great asset to our group and to the firm.  His in-depth knowledge of banking law and background at the OCC and the Federal Reserve will be particularly valuable to the team and to our clients."

Mr. Clark's most recent position was as legal counsel for the Managed Funds Association, the principal trade association for the private investment fund industry.  Prior to that position, he worked at the Enforcement and Compliance Division of the OCC, first serving as senior attorney (1998-2001) and then as senior counsel (2001-2004).  During his tenure, he conducted investigations and administrative and civil litigation involving supervision of nationally chartered banks.  He handled complex matters involving insider fraud and abuse allegations, and enforcement agreements including novel actions against bank service companies.  He was also responsible for civil litigations that resulted in favorable decisions regarding the agency's bank supervision powers.

As senior enforcement attorney at the Federal Reserve from 1993 to 1998, Mr. Clark conducted investigations and enforcement actions involving bank holding companies, state banks, and other entities supervised by the Federal Reserve.  He counseled agency employees on enforcement issues, negotiated orders against foreign and domestic financial institutions, investigated and pursued administrative litigations involving complex issues of federal banking law, and investigated cases involving safety and soundness, domestic and international financial fraud, money laundering, and securities lending, among others.

Prior to his government service, Mr. Clark had ten years of experience in private practice focusing on litigation involving regulated financial institutions.  He received his law degree from Creighton University Law School in Omaha, Nebraska.

Arnold & Porter LLP, an international law firm of approximately 600 attorneys, has offices in Washington, D.C., Northern Virginia, New York, Los Angeles, San Francisco, Denver, London, and Brussels.  The firm, founded in 1946, maintains more than 25 practice areas spanning a broad spectrum of the law, with a primary focus on litigation, transactional matters and regulatory issues.