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Hassan to nominate Glenn Perlow as N.H. banking commissioner

Glenn Perlow is Gov. Maggie Hassan’s pick as the state’s new banking commissioner, replacing former Merrimack County Savings Bank president Ron Wilbur, whose term ended Jan. 1.

Perlow, a Concord resident, is the New Hampshire Banking Department’s deputy commissioner. He’s a lawyer and former senior assistant attorney general.

Hassan, a Democrat, will formally nominate him today, according to her office.

“I am confident that Glenn Perlow’s experience at both the Banking and Justice departments will enable him to ably fulfill this important responsibility to support our financial markets while ensuring strong protections for New Hampshire consumers,” Hassan said yesterday in a statement.

Wilbur, a Concord resident who was the chief executive officer of Merrimack County Savings Bank for 20 years until his retirement in September 2010, became the state’s banking commissioner in May 2011.

He was tapped by then-Gov. John Lynch in the wake of the 2009 collapse of Meredith-based Financial Resources Mortgage, which prosecutors said operated a multimillion-dollar Ponzi scheme.

Lynch demanded then-Banking Commissioner Peter Hildreth’s resignation in mid-2010, then placed him on paid leave after he refused to go. Hildreth agreed that December to retire as the Executive Council conducted a hearing on whether to remove him from office.

Wilbur’s term as banking commissioner ended at the start of the new year, “and he opted not to seek reappointment,” wrote Hassan’s spokesman, Marc Goldberg, in an email.

If confirmed by the five-member Executive Council, Perlow’s term as commissioner would run until Jan. 1, 2019.

“The role of the banking commissioner is vitally important for maintaining the health of our financial institutions and keeping consumers safe from predatory practices,” Perlow said in a statement. “I thank Gov. Hassan for this important opportunity and look forward to working with her to ensure the safe flow of credit that will help grow our economy.”

Perlow ran for Concord’s school board in 2002, finishing fifth in a six-way race for three seats. He spent five years working in the attorney general’s office, and went to work at the Banking Department in 2011.

In 2009, while working for then-Attorney General Kelly Ayotte, Perlow wrote a legal opinion saying the Legislature could use money from a medical malpractice fund to balance the state budget.

The state then sought to take $110 million from the fund, a move that was ruled unconstitutional by the state Supreme Court in 2010.

(Ben Leubsdorf can be reached at 369-3307 or
bleubsdorf@cmonitor.com or on Twitter @BenLeubsdorf.)

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