Michigan Governor Jennifer M. Granholm today announced that Linda A. Watters is stepping down as commissioner of the Office of Financial and Insurance Services (OFIS), effective the end of October 31st. The governor has named Ken Ross acting commissioner of the agency.
In announcing Watters resignation, Granholm praised her unwavering commitment to Michigan consumers and the financial and insurance institutions upon which they rely.
“Linda Watters has served our state with distinction,” Granholm said. “She has been a tireless advocate for consumers while at the same time strengthening the financial services industry in Michigan. She leaves the office well-positioned to continue its work on behalf of our 10 million citizens.”
Watters issued a comprehensive study examining the state of competition in the Michigan home and auto insurance marketplace, fought for the Michigan Credit Union Act, which has been recognized as one of the most progressive in the nation, and launched the “IE@yl” (Investor Education at Your Library) program – a highly successful consumer outreach program designed to bring consumer education to communities across Michigan
“When I accepted this appointment, I made a commitment to serve as a watchdog for Michigan consumers, to make certain that they are treated with the utmost fairness by insurers and financial service providers,” Watters said. “I am pleased to have honored my commitment with the help of the many outstanding OFIS employees, but the time has come for me to return to the private sector.”
Watters will be joining the financial risk management practice of KPMG LLP in Chicago.
Ross, who grew up on the southwest side of Detroit, joined OFIS in December 2003 as chief of staff and earlier this year was named deputy commissioner for policy. He holds a bachelor’s degree from the University of Michigan and earned a juris doctor from the Thomas M. Cooley Law School, graduating with honors.
Prior to joining the Granholm Administration, Ross served as vice-president for regulatory and legal affairs for the Michigan Credit Union League and served as an assistant attorney general in the tort defense division of the Michigan Attorney General’s Office.
Source: Office of the Michigan Governor’s Office
Topics Michigan
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