Derrick D. Cephas To Lead Weil’s Financial Institutions Regulatory Group

Derrick D. Cephas has joined the New York office of Weil, Gotshal & Manges to lead the Financial Institutions Regulatory practice group. Cephas joins Weil from Amalgamated Bank, where he served as the bank's president and chief executive officer.

Prior to joining Amalgamated, Cephas (pictured) was a corporate law partner and head of the bank regulatory practice at Cadwalader, where he represented commercial banks, thrift institutions, bank holding companies, and foreign banking corporations in a wide range of regulatory and transactional matters. From 1991 to 1994, Cephas was the Superintendent of Banks for the State of New York, and he has significant experience in public policy matters relating to the banking industry.

Cephas is a member of Governor Cuomo's Counsel on Fiscal and Economic Priorities. He is currently a director of D.E. Shaw & Co. Inc., the Fresh Air Fund, New York Public Assets Fund and the Empire State Development Corporation and is also a former member of the Board of Directors of the Dime Savings Bank of New York, United Hospital Fund and Merrill Lynch International Bank. He has testified numerous times before the New York State Legislature, the U.S. Congress, regulatory bodies and legislative panels.

While in private practice, Cephas counseled financial institutions in connection with traditional lending, strategic planning, general regulatory and compliance issues, acquisitions and dispositions, formation of de novo banks, product development, and defense of bank regulatory enforcement actions. He also has significant experience with risk management and internal controls, issuance of debt and equity securities, obtaining regulatory authority to exercise expanded powers, director and trustee fiduciary duty issues, and the negotiation of and compliance with supervisory orders.