Wendy S. Spicher was unanimously confirmed on October 25, 2023, by the Pennsylvania Senate as Secretary of the Pennsylvania Department of Banking and Securities (DoBS). She was nominated for this cabinet-level position by Governor Josh Shapiro on July 7, 2023.
In her role, Secretary Spicher provides overall leadership to the Pennsylvania Department of Banking and Securities, which supervises more than 160 Pennsylvania state-chartered banks, credit unions and trust companies; licenses and registers more than 30,000 non-bank financial services licensees; licenses and regulates more than 275,000 investment firms and professionals doing business with Pennsylvania residents; and provides free help to anyone with a question, concern, or complaint about Pennsylvania financial institutions, products, or services.
Secretary Spicher has served the Department of Banking and Securities as Interim Acting Secretary; was DoBS’ Deputy Secretary for Depository Institutions since 2008, where she oversaw the chartering, regulation, supervision and examination of all Pennsylvania state-chartered banks, credit unions and non-depository trust companies; and as a Special Assistant to the DoBS Secretary from 2006-2008 in a role designed to increase Pennsylvania financial institutions’ participation in the state’s array of economic development programs to create and retain good paying jobs in the commonwealth.
She began her banking career as a commissioned bank examiner for the Federal Deposit Insurance Corporation (FDIC) in the New York region. She made the transition to private sector when she joined Dauphin Deposit Bank. Ms. Spicher has served as vice president of Allfirst Bank, a subsidiary of Allied Irish Banks (now M&T Bank) and was a member of the bank's senior loan committee developing an extensive knowledge and expertise in corporate lending, credit administration, and general bank operations. She has also served as vice president of private wealth management at PNC Bank and Mellon Bank (now Mellon BNY) acquiring expertise in asset management and trust operations.
By virtue of her position as Secretary of Banking and Securities, Secretary Spicher serves as Chair of the Board of Directors of the Pennsylvania Housing Finance Agency, Vice Chair of the Pennsylvania Banking and Securities Commission, and on the board of the Commonwealth Financing Authority, the Pennsylvania Economic Development Financing Authority, the Pennsylvania Housing Advisory Committee, the Pennsylvania Industrial Development Authority, the Pennsylvania Minority Business Development Authority, the Pennsylvania Energy Development Authority, the State Board of Certified Real Estate Appraisers, and the Pennsylvania Advisory Council for Inclusive Procurement.
Secretary Spicher is a graduate of the Pennsylvania State University where she earned a degree in business administration with a major in finance and an emphasis on economics. She also studied at the School of Business Administration (ESAN) in Lima, Peru, and graduated with highest honors from the Pennsylvania Bankers Association Advanced School of Banking.