FINANCIAL ACCOUNTING FOUNDATION NAMES MARY P. CROTTY AS CHIEF OPERATING
Norwalk, CT, October 23, 2014—The Financial
Accounting Foundation (FAF)
today named Mary P. Crotty to the new position of chief operating officer. In
her new role, Ms. Crotty will manage the Foundation´s business operations,
including technology, finance, publications, and other key business activities.
She will report to FAF President and Chief Executive Officer Teresa S. Polley.
The FAF oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
"We are pleased
to welcome Mary to the FAF in the newly created role of chief operating
officer," Ms. Polley said. "Mary comes to us with an extensive background in
corporate operations and governance, earned in a series of increasingly
important leadership roles with major global banking and accounting firms.
"Her broad experience will be a significant asset to the FAF leadership
team, which is committed to improving the efficiency and effectiveness of our
business operations, and ensuring exceptional support of the FASB and the GASB
and their standard-setting missions."
Ms. Crotty will be based in
Norwalk. She joins the FAF team from Bank of America, where she was a managing
director and, for the past four years, leader of the Corporate Compliance and
Regulatory Relations groups. Prior to that, Ms. Crotty held a variety of roles,
including global compliance risk chief operating officer and business support
executive in Global Markets and Global Research.
Earlier, Ms. Crotty was
a managing director at J.P. Morgan Securities, Inc., where she spent eight years
in U.S. Equity Research as the assistant director and chief operating officer.
Prior to that, she worked in Accounting Policies and Financial Statement
Ms. Crotty began her career at Deloitte & Touche where, as
a senior manager, she directed audit engagements for multinational conglomerates
and participated in mergers and acquisitions. While at Deloitte & Touche,
she was selected for a two-year assignment in the Management Development Program
at the National Office, where she worked in the research and SEC functions.
Ms. Crotty holds a B.S. in accounting from Manhattan College and is a
certified public accountant in the state of New York.
the Financial Accounting Foundation
The FAF is responsible for
the oversight, administration, and finances of both the Financial Accounting
Standards Board (FASB) and its counterpart for state and local government, the
Governmental Accounting Standards Board (GASB). The Foundation is also
responsible for selecting the members of both Boards and their respective