James B. Lockhart III

Who is James B. Lockhart III?

James B. Lockhart III assumed the position of Vice Chairman of WL Ross & Co. LLC in September 2009. WL Ross manages $9 billion of private equity investments, a hedge fund and a Mortgage Recovery Fund. It is a subsidiary of Invesco, a Fortune 500 investment management firm. As Vice Chairman, Lockhart coordinates WL Ross’ investments in financial services firms and mortgages.

For the prior 7½ years, he served in the US Government in a series of Presidential-appointed, Senate-confirmed positions. He was the Director and Chairman of the Oversight Board of the Federal Housing Finance Agency, the regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. He assumed that position with the signing of the Housing and Economic Recovery Act on July 30, 2008. He was the Director of the Office of Federal Housing Enterprise Oversight, which is now part of FHFA. He was nominated to that position by President George W. Bush, a friend of his from prep school, college and business school, and confirmed by the United States Senate in June 2006.

He also served on the Financial Stability Oversight Board from its inception in 2008. This board was set up to oversee the Troubled Asset Relief Program., which is chaired by the Chairman of the Federal Reserve Board and has as its other members the Secretaries of the Treasury and HUD, and the Chair of the SEC.