Stephen Gannon, Senior Banking Legal Executive, Joins Murphy & McGonigle


Stephen T. Gannon

Financial services law firm Murphy & McGonigle announced today that Stephen T. Gannon, a financial services industry leader who has previously served as a senior legal executive at Citizens Financial Group, Capital One Financial Corporation and Wachovia Securities, has joined the firm.

Mr. Gannon was most recently Executive Vice President, General Counsel and Chief Legal Officer at Citizens Financial Group, the nation's 12th largest retail and commercial bank, where he served on the Executive Committee and managed and directed all legal, corporate governance, corporate transactions, government relations, regulatory relations and litigation functions for the company. He has spent the last two decades as a counselor with respect to the highest levels of strategic decision making for several of the country's largest financial institutions.

"We are thrilled to have Steve join our team," said Chairman and Co-Founder James A. Murphy. "Steve brings tremendous depth and breadth of experience in the banking sector, which will supplement our leading securities and blockchain practices and provide a one-stop destination for financial services institutions of all kinds as they grapple with the rapid changes impacting the industry."

Mr. Gannon stated, "I joined Murphy & McGonigle for one simple reason — they are the best at what they do. I've known James and Tom for close to 30 years, both as an SEC colleague in Tom's case, and as a law partner in James' case. They have built a law firm based on the best talent, which enables them to provide their clients with stellar insights, outstanding judgment and, most importantly, great results. It is evident in what they've been able to accomplish in only 10 years. They have led clients effectively through times of disruption and challenge as well as advanced client growth and opportunity. As banking hits its next inflection point, which is happening right now, those skills will be more important than ever. I'm delighted to join this incredible team with such a superb track record."

Mr. Gannon has significant experience in leading teams charged with designing and overseeing frameworks and processes to ensure that financial products are fully compliant with all applicable laws and regulations and fit within appropriate strategic goals. Mr. Gannon also has advocated and managed advocacy before the Federal Reserve Board, the OCC, the FDIC, the CFPB and the SEC, where he served as a Branch Chief in the Division of Enforcement. He also has deep expertise in banking and broker/dealer regulation, including in connection with bank regulatory reform.

Prior to his seven years at Citizens Financial Group, Mr. Gannon served as the Executive Vice President and Deputy General Counsel at Capital One, overseeing corporate and securities transactions, bank and corporate regulatory issues, litigation, M & A, and other legal and financial affairs. At Wachovia Securities, Mr. Gannon served as General Counsel of the institution's Retail Brokerage Group and was responsible for building a more than 100-person legal department for the nation's third largest retail brokerage. Prior to his in-house corporate service, Mr. Gannon tried dozens of cases in court, securities arbitration and before other regulatory bodies and appellate forums.

In addition to joining Murphy & McGonigle's industry-leading Securities Regulation Practice and growing Fintech & Blockchain Practice, Mr. Gannon will take charge of building a new banking services practice. He will advise the banking industry on regulatory and strategic matters, ranging from public policy and corporate governance to litigation, compliance, and administrative actions. He will also focus on helping industry players adapt to, and seize opportunities in, the burgeoning fintech and digital asset space.

Mr. Gannon has held numerous leadership roles in the financial services industry, including Chair of the Managing Board of The Clearinghouse Association; the General Counsel's Forum of the Bank Policy Institute; participation in the U.S. Chamber of Commerce Institute for Legal Reform and serving on the Executive Committee of the SIFMA Compliance and Legal Society as well as on the SIFMA Advisory Council.

The addition of Mr. Gannon extends the recent momentum Murphy & McGonigle has enjoyed. The firm opened two new offices in 2020, in San Francisco and Chicago, and was named the 2021 "Law Firm of the Year" for Securities Regulation by U.S. News – Best Law Firms in just its 10th year of existence.

Mr. Gannon, the 16th lawyer at Murphy & McGonigle to have served at the SEC, will split his time between the firm's offices in Washington, D.C., New York, and Richmond, Virginia.

About Murphy & McGonigle

Murphy & McGonigle serves the regulatory counseling, enforcement defense and high-stakes litigation needs of clients across the full spectrum of the financial services industry – from investment banks and commercial banks, broker-dealers, investment advisers, and hedge funds, to national and international securities markets and exchanges as well as digital asset trading platforms and Fintech innovators. Many of the firm's partners formerly served in senior positions at the U.S. Department of Justice, SEC, FINRA, and the CFTC, and several served in senior executive positions in major financial institutions on Wall Street.

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