Statement by Sheila Bair on Being Named DLA Piper Senior Advisor

“I am pleased to announce that I have agreed to serve as a senior advisor to DLA Piper, a major, global law firm. I will be focusing on its international practice, particularly its public sector clients. I also hope to do compliance monitoring work at the firm. In addition, DLA has a substantial pro bono practice and they have agreed to help me organize a nonprofit in the US to raise money to build playgrounds in orphanages throughout the developing world. Over the past few years, I have been raising funds through my speaking fees to build two playgrounds at an orphanage in Hengyang, Hunan China, where our daughter lived before we adopted her. I have found this to be one of the most rewarding things I have done since leaving public office, and would like to leverage the experience and knowledge I have acquired through the Hengyang projects to launch a broader effort, focusing on orphanages in China, as well as others in developing countries.

Consistent with my policy, I will not be advising or otherwise interacting with the firm’s US banking clients, nor will I be lobbying for the firm.

DLA Piper has a global reputation and reach. I believe this new affiliation will give me an opportunity to advise international regulators about lessons learned and how to promote safer, more stable, and better regulated financial systems throughout the world.”