Gene is a business leader and expert on banking, regulation, risk management, and fiscal policy. He is the CEO of Promontory MortgagePath, a technology-based mortgage fulfillment and solutions company, founder and chairman of Promontory Financial Group, now an IBM Company. He is also the founder and former chairman of Promontory Interfinancial Network (now IntraFi Network). In January 2020, Gene launched Canapi Ventures, a venture capital firm focused on investments in early to growth-stage fintech companies, where he serves as co-managing partner.
Under his leadership, the Promontory family of companies have become synonymous with excellence in compliance and risk management and are renowned for their ability to harness technology to help financial companies resolve their most pressing challenges.
In 2019, Gene founded The Ludwig Institute for Shared Economic Prosperity (LISEP), a non-profit 501(c)(4) organization dedicated to improving the economic well-being of middle- and lower-income Americans through research and education. Its research includes the creation of more meaningful economic indicators for both unemployment, earnings and economic growth. LISEP’s statistics aim to provide policymakers and the public with a more useful view into the economic situation of all Americans as compared with traditionally relied-upon metrics. LISEP also seeks to guide and support policy initiatives that increase opportunities for struggling Americans. Mr. Ludwig is also co-founder (along with his wife Dr. Carol Ludwig) of The Carol and Gene Ludwig Family Foundation, Inc., a 501(c)(3) private foundation based in Washington, D.C.
Gene was previously vice chairman and senior control officer of Bankers Trust New York Corp. He was instrumental in steering the firm through its landmark merger with Deutsche Bank.
As U.S. comptroller of the currency from 1993 to 1998, Gene served as the Clinton administration’s point person on the policy response to the credit crunch of the early 1990s. He fashioned an 11-point plan that was instrumental in ending the credit crunch and helping banks begin to lend again and fulfill their role of supporting the economy. As comptroller, he was known as a pragmatist who greatly enhanced the ability of financial institutions to compete, even as he refocused the industry on fair lending and meeting its obligations under the Community Reinvestment Act. Under his purview, lending to low- and moderate-income Americans increased tenfold, as did national bank investments in community development corporations. He brought 27 fair-lending cases, resulting in tens of millions of dollars in fines against violators.
While he was comptroller, Gene served as chairman of the Federal Financial Institutions Examination Council, a member of the Basel Committee on Banking Supervision, a director of the Federal Deposit Insurance Corporation, and chairman of the Neighborhood Reinvestment Corporation.
Before becoming comptroller, Gene was a partner at Covington & Burling, specializing in banking law. He has has been a guest lecturer at Yale and Harvard law and business schools and Georgetown’s International Law Institute.
Given Gene’s unique perspective as a regulator, lawyer, banker, business leader, and trusted adviser to leading financial institutions, he is a sought after thought leader. His pieces have been published in The Financial Times, The New York Times, The Atlantic, The Wall Street Journal, The Washington Post, Politico, American Banker, Time, and on CNBC.com. His book, The Vanishing American Dream: A frank look at the economic realities facing middle- and lower-income Americans, was published in September 2020.
Gene was born in Brooklyn, New York, and raised in York, Pennsylvania. He graduated magna cum laude from Haverford College and received a scholarship to Oxford University, where he earned a Master of Arts degree as a Keasbey Fellow. He also earned a J.D. from Yale University, where he was editor of the Yale Law Journal and chairman of Yale Legislative Services.