James B. Lockhart III co-chairs – with former U.S. Senator Kent Conrad (D-ND) – the Bipartisan Policy Center’s Commission on Retirement Security and Personal Savings. He is vice chairman of WL Ross & Co. LLC, where he is a member of the management committee, oversees the financial services investment team, and serves on investment committees including the two mortgage funds, the WLR Recovery Funds and Invesco Mortgage Recovery Fund. Prior to joining WL Ross in September 2009, Lockhart was the director of the Federal Housing Finance Agency. He served as the chairman of Federal Housing Finance Oversight Board and as a member of the Financial Stability Oversight Board. Lockhart also held the position as the deputy commissioner and chief operating officer of the Social Security Administration, secretary to its board of trustees, and a member of President George W. Bush’s management council. Lockhart also served in the previous Bush administration as executive director of the Pension Benefit Guaranty Corporation from 1989 until 1993. Lockhart co-founded and served as managing director of NetRisk, a risk management software and consulting firm serving major financial institutions, banks, insurance companies, and investment management firms worldwide. Lockhart holds degrees from Yale University and Harvard Business School. He served as a Lieutenant (j.g.) in the U.S. Navy aboard a nuclear submarine.