FDIC Veteran Murton Steps Down After 39 Years

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is facing a leadership shift as Arthur J. (Art) Murton, Deputy to the Chairman for Financial Stability and Director of the Division of Complex Institutions Supervision and Resolution (CISR), announced his retirement effective May 31, 2025. Murton’s departure marks the end of a 39-year career spent navigating some of the most turbulent periods in modern banking history.

Appointed Deputy to the Chairman for Financial Stability in October 2019, Murton served as a key advisor to FDIC Chairmen and Board members on critical policy issues. His responsibilities expanded in October 2023 when he took the helm of CISR, overseeing the agency’s handling of systemically important financial institutions and those with assets exceeding $100 billion. Prior to these roles, Murton held several other leadership positions within the FDIC, including Director of the Division of Insurance, the Division of Insurance and Research, and the Office of Complex Financial Institutions.

“Art’s experience and depth of knowledge have helped navigate the FDIC through critical times in our agency’s history,” stated Travis Hill, FDIC Acting Chairman. “He is also a valued colleague who has mentored and helped further the careers of those who have worked with him. We are grateful for his dedication and exemplary service to the FDIC.” The sentiment rings hollow to some, given the ongoing scrutiny of the FDIC’s handling of recent regional bank failures, though the agency maintains it acted appropriately.

Murton’s tenure at the FDIC began in January 1986 as a financial economist, placing him at the center of the savings and loan crisis of the 1980s. He subsequently played a crucial role in responding to the 2008 global financial crisis and, more recently, the spring 2023 regional bank failures. In each instance, Murton was involved in managing bank failures and safeguarding the Deposit Insurance Fund (DIF). Notably, he spearheaded the design and implementation of the Temporary Liquidity Guaranty Program during the 2008 crisis.

Beyond crisis response, Murton was instrumental in shaping post-crisis reforms. Following the 1980s crisis, the FDIC implemented a risk-based premium system to bolster the DIF. After 2008, the agency mandated resolution plans for the largest banks and developed tools for orderly resolution without taxpayer bailouts – reforms Murton actively drove. He also played a key role in establishing the International Association of Deposit Insurers and fostered strong relationships with global resolution authorities.

Murton’s academic background includes a Bachelor of Economics degree from Duke University and a Ph.D. in Economics from the University of Virginia. While the agency praises his decades of service, questions remain about whether the lessons learned from past crises were adequately applied to prevent the recent instability in the banking sector. Contact for media inquiries: MediaRequests@fdic.gov. Last Updated: May 16, 2025.