William S. Haraf

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San Francisco

Previous Experience

  • Commissioner of Financial Institutions, State of California
  • Member, Financial Stability Oversight Council (representing state bank supervisors)
  • Visiting Professor of Economics and Finance, Graduate School of Management, University of California-Davis
  • Managing Director, Banc of America Securities
  • Senior Vice President of Strategic Policy Development and Planning, Bank of America
  • Director of Policy Analysis, Citicorp
  • J. Edward Lundy Scholar and Director of the Financial Markets Project, American Enterprise Institute for Public Policy Research
  • Special Assistant to the Chairman and Senior Staff Economist to President Ronald Reagan’s Council of Economic Advisers
  • Assistant Professor of Economics, Brown University

Thought Leadership

  •  “Dodd-Frank Implementation: A View from the FSOC,” Presentation to the Western Regional Regulators Interagency Meeting, January 19, 2012
  • “Systemic Risk and the Response to the Crisis,” Berkeley Business Law Journal, Vol. 8, No. 2, 2011
  • “Viewpoint: Preserve Fed Banks’ Role,” American Banker, March 23, 2010
  • “The Collapse of Drexel Burnham Lambert: Lessons for the Bank Regulators,” Regulation, Winter 1991
  • “Monetary Policy for a Changing Financial Environment,” co-editor, AEI Press, December 1990
  • “Monetary Policy for a Volatile Global Economy,” co-editor, AEI Press, October 1990
  • “Restructuring Banking and Financial Services in America,” co-author, AEI Press, December 1988

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William S. Haraf

Special Adviser

Bill brings an exceptional blend of experience and insights to his work with clients, having been a banker, California’s Commissioner of Financial Institutions, and a member of the Financial Stability Oversight Council. He works with financial institutions on corporate governance and organizational design, compliance program design and implementation, anti-money laundering programs, senior management reviews, and strategic planning.


Bill’s financial services experience spans the corporate sector, the executive branches of both state and federal government, academia, and think tanks. He earned a reputation as an open, fair, and pragmatic regulator during four years as Commissioner of Financial Institutions in California, leading the agency through a period of economic upheaval both in the state and nationwide. His vast knowledge and understanding of the financial system led to his selection as the state banking supervisors’ representative on the Financial Stability Oversight Council, a federal agency created by the Dodd-Frank Act to foster coordination among financial regulators in order to identify systemic risks to the nation’s financial stability.

Before his appointment to state office, Bill was an independent consultant with Promontory while also serving as a visiting professor of economics and finance for the Graduate School of Management at the University of California-Davis. He worked on a wide array of client engagements at Promontory, in areas that included governance, due diligence, compliance, and strategy.

During nine years with Bank of America, Bill was managing director of Banc of America Securities and senior vice president of strategic policy development and planning for the bank. Earlier, he worked for five years as director of policy analysis for Citicorp.

Bill was J. Edward Lundy Scholar and director of the financial markets project at the American Enterprise Institute for Public Policy Research. He served under President Reagan as senior staff economist and special assistant to the chairman of the Council of Economic Advisers.

Bill earned a Ph.D. in economics from the University of Washington and a B.S. in finance from Northern Illinois University.


  • Ph.D., economics, University of Washington
  • B.S., finance, Northern Illinois University

Affiliations, Awards, and Civic Engagements

  • Director, Charles Schwab Corp.
  • Director, Charles Schwab Bank
  • Chairman-elect, vice chairman, and treasurer, Conference of State Bank Superintendents, 2009 to 2012
  • Dean’s advisory board, Graduate School of Management, University of California-Davis, 2004 to present
  • Bank Administration – Board of Directors, Chairman of the Center for Banking Issues and Strategies, Chairman of the Regulatory Affairs Council, 1993 to 1997

Representative Engagements

  • Completed an independent assessment of the compliance and operational risk management functions for one of the 10 largest U.S. bank holding companies and recommended numerous structural changes and other improvements.
  • Facilitator for the Council to Shape Change, a group of 20 leaders from the mortgage banking industry responsible for developing a five- to ten-year strategic view of the industry under the auspices of the Mortgage Bankers Association. Worked with MBA staff to prepare final report.
  • Conducted senior management review for the board of directors for a large, publicly traded mortgage lender.
  • Conducted management-level corporate governance review for a large, publicly traded mortgage lender.
  • Developed an alternative approach to Black-Scholes for the valuation of a portfolio of stock purchase warrants on early-stage private companies for a banking client.

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