Texas Banking Commissioner Announces Retirement

June 16, 2008

After more than 16 years with the Texas Banking Department, including almost nine as Texas Banking Commissioner, Randall S. James has announced his retirement from state service.

Hired as Deputy Commissioner in November 1991 by then Banking Commissioner Kenneth W. Littlefield, Mr. James served in the role of Deputy for incoming Commissioner Catherine A. Ghiglieri. Following her departure in 1999, the Finance Commission selected Mr. James to become Banking Commissioner. He also held the position of Executive Director of the Texas Finance Commission, the Department's oversight body, from July of 1999 to June of 2007.

As Texas Banking Commissioner, his responsibilities currently include the regulation and supervision of 330 state-chartered banks which control approximately $153 billion in banking assets. In addition, he also directs the supervision of trust companies with approximately $29 billion in fiduciary assets. Other regulated entities under the Department’s supervision are foreign bank agencies and branches with $42 billion in deposits, prepaid funeral licensees, money services businesses, perpetual care cemeteries and private child support enforcement agencies.

During his tenure, the agency was successful in: drafting and obtaining passage of nine material pieces of legislation affecting banking and other industries the Banking Department works with; twice obtaining additional appropriation authority for much-needed substantive salary adjustments for staff; and expanding his and his staff’s availability to and communication with Texas bankers.

In 2005, Commissioner James received the SMU Southwestern Graduate School of Banking Alumni Association Distinguished Alumni Award, for his contributions to Texas banking. For the last ten to 12 years, he has been on the Advisory Boards of the Texas Tech Banking School, the Bank Operations Institute at SMU, and the Smith-Hutson Endowed Chair of Banking at Sam Houston State University. He has also instructed at these Texas graduate banking schools and SWGSB.

Commissioner James said, “I am proud to see the energy and relevance reflected in the Banking Department. And the resurgence in Texas banking is great. It really has been and continues to be ‘all about the people’. Leaving the Banking Department is not easy; but for me, it is time to see where the next opportunities are.”

John L. Snider, Chairman of the Texas Finance Commission, stated, “Commissioner James, along with the Banking Department under his leadership, has raised the bar. We regret his decision, but know he will have continued success in his future endeavors.”