Tanoue gets
finance post
at Bankoh

The former FDIC chairwoman
will start her new duties April 8

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By Lyn Danninger
ldanninger@starbulletin.com

Former Federal Deposit Insurance Corp. Chairwoman Donna Tanoue has been appointed vice chairwoman of financial services at Bank of Hawaii.

Tanoue, who starts the new position April 8, will retain the seat on Bankoh's board of directors she assumed in October 2001.

In her new position, Tanoue will oversee the Financial Services Group, which includes the bank's trust, private client, asset management and brokerage businesses. In addition, she will be part of the bank's 12-member managing committee.

Bankoh's Chairman and Chief Executive Officer, Michael O'Neill said Tanoue's task will be to grow her assigned areas of business.

"We already have significant business in those areas but would like to grow that," he said. "It's a pretty significant part of the company, but we'll leave it to her to lead the way."

O'Neill described Tanoue as someone who has a strong legal background who also knows the regulatory landscape.

"She's also someone who is a good leader," he said.

Tanoue said she looks forward to starting her new job and is impressed with what she has seen since joining the bank's board.

"I feel very optimistic about it," she said.

"Being a member of the board gave me a good sense of the board's commitment, the strength of the management team, the strength of individual business units as well as overall corporate strategy," she said.

Tanoue, who was born and raised in Hawaii, was educated at the University of Hawaii and Georgetown University Law Center, and headed the FDIC from May 1998 to July 2001. The FDIC oversees nearly 5,700 banks and insures $3 billion in deposits. During her tenure, Tanoue led the its initiative to overhauled the deposit insurance system.

Prior to her appointment at FDIC, Tanoue was a partner in local law firm Goodsill Anderson Quinn & Stifel. She also served as state commissioner of financial institutions from 1983 to 1987 and was widely credited with restoring stability to Hawaii's thrift industry, overseeing the Manoa Finance Co. and Great Hawaiian Financial Corp. bailouts.

Tanoue also served as Sen. Daniel Inouye's campaign manager in 1992 and 1993.