Linda Lacewell took over Monday as Superintendent of the State Department of Financial Services (DFS), succeeding Maria Vullo. She most recently was Governor Cuomo’s chief of staff, and has also been a state and federal prosecutor.
When Cuomo was State Attorney General, she led his investigation of the private equity industry’s “pay-to-play” approach to pitching investments to public pension funds, including the New York State Common Retirement Fund. The case resulted in a guilty plea from former New York State Comptroller Alan Hevesi. Governor Cuomo relied on Lacewell’s counsel in various roles, including as chief risk officer. Former DFS Superintendent Benjamin Lawsky noted: “Linda understands what good public policy is and intuitively knows that markets work best when there’s an even playing field with clear rules preventing fraud, abuse and unfairness.”