Governor-Elect Announces Commissioner OFI and Chair of Adjutant General Recommendation Committee
BATON ROUGE – Today, Governor-Elect Bobby Jindal announced John Ducrest will continue serving as the Louisiana Commissioner of Financial Institutions, and that General A.M. “Buddy” Stroud will chair the Recommendation Committee for the Adjutant General of the Army National Guard
John Ducrest, of Broussard, has served as the Louisiana Commissioner of Financial Institutions (OFI) since 2004, overseeing the regulation and supervision of all state-chartered Louisiana banks, savings and loan associations, credit unions, finance companies, pawnbrokers, mortgage lenders and originators, repossession agents, insurance premium finance companies, credit repair companies, and bond for deed companies. OFI is a 127-employee state agency with revenues of more than $19 million. Ducrest also serves as the Commissioner of Securities, regulating all investment advisers and broker-dealers operating within the state of Louisiana.
At OFI, Ducrest has led the push for the development of a nationwide licensing system for mortgage brokers and lenders, which just began this year. During his tenure, OFI has been reaccredited by both the Conference of State Bank Supervisors and the National Association of State Credit Union Supervisors, and has attained a reaccredidation score among the top states in the nation.
Ducrest previously served as the Deputy Chief Examiner of OFI from 1994 to 2004, overseeing the corporate applications section of the depository division, including the chartering of new banks, bank mergers and bank branching. He also oversaw the Certified Capital Companies Program (Capco) – a $775 million economic development program providing funding to Louisiana businesses. Ducrest has also served as a Financial Examiner at OFI from 1985 to 1994, conducting safety and soundness examinations for financial institutions – many during a banking crisis.
Ducrest is a Certified Public Accountant, a Certified Fraud Examiner, and a Certified Examinations Manager. He has a bachelor’s of science in business administration from the University of Southwestern Louisiana and is a graduate of the Graduate School of Banking at LSU.
General A.M. “Buddy” Stroud will chair the Recommendation Committee for the Adjutant General of the Army National Guard. Stroud, originally of Shreveport, is a 17-year adjutant general who led the Louisiana National Guard during Desert Storm and during the preparedness and response efforts of Hurricane Andrew.
Under his leadership, the Louisiana National Guard was a finalist for the Army Community of Excellence competition for nine years. General Stroud is a recipient of many military honors including the Oak Leaf Cluster, the Legion of Merit with two Oak Lead Clusters, the Army Commendation Medal, the Air Force Commendation Medal, the American Campaign Medal, the World War II Victory Medal, and the Armed Forces Reserve Medal with three Hourglass Devices. He has also received distinguished service awards from Alabama, Arkansas and Oregon. Stroud was twice awarded the National Guard Bureau Eagle Award and the United States Army Reserve Meritorious Performance Award. In 1997, he was the first recipient of the National Guard Association of the U.S. President’s Award. Stroud attended both Baylor University and Texas A&M University and has a bachelor’s degree from the University of the State of New York.
Stroud asked five others to be a part of the Recommendation Committee for the Adjunct General of the Army National Guard, including Brigadier General (r) Richard Averitt (Baton Rouge) - the Commander of the 256th Infantry Brigade and Assistant Adjutant General in the Army; Brigadier General (r) Arthur Abercrombie (Baton Rouge) - former Assistant Adjutant General in the Army; Brigadier General (r) Sam deGeneres (Houma) - former Assistant Adjutant General; and Brigadier General (r) Edmund Gierin (Natchitoches) - former Assistant Adjutant General in the Army; Brigadier General (r) Kenneth Ross (Hammond) – former Assistant General.
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