Chester A. McPherson was appointed Acting Commissioner of the D.C. Department of Insurance, Securities and Banking on May 6, 2014. Before joining the department in August 2011 as the deputy commissioner, he served as a legislative counsel with the Council of the District of Columbia. As the acting agency head, he is the chief regulator of the District of Columbia’s financial-services industries, including insurance companies and their representatives, District of Columbia-chartered banks, mortgage lenders and brokers and all other non-depository financial institutions, as well as securities broker-dealers and investment advisers.
McPherson has an extensive career as a financial-services professional in both the public and private sectors including commercial and investment banking, and as a federal and state regulator of the securities markets. He holds a Bachelor of Business Administration in finance (magna cum laude) from Baruch College at The City University of New York. He also holds a Juris Doctor and Master of Laws (with distinction) from Georgetown University Law Center. He is a member of the bar of the District of Columbia and the State of Maryland, and Leadership Greater Washington, class of 2008.