The President today announced that he will nominate Lawrence Connell, Jr., of Connecticut, to be Administrator of the National Credit Union Administration. He would replace C. Austin Montgomery. Connell is bank commissioner for the State of Connecticut.
He was born September 30, 1936, in New York City. He received an A.B. in economics from Harvard College in 1958, a J.D. from Georgetown University in 1966, and an M.A. in economics from Trinity College in 1973.
Connell worked in the office of the U.S. Comptroller of the Currency from 1958 to 1968, beginning as a field examiner and ending .as Deputy Regional Administrator of National Banks in New England. In 1962-63 he participated in the reorganization of the internal operations of the Washington office of the Comptroller of the Currency. He also participated in the first study of competition .and branch banking by that office in 1963.
In 1968 he joined Hartford National Bank and Trust Co., as vice president and counsel, was promoted to cashier, and then became secretary of Hartford National Corp. He also served as an officer and director of a number of its subsidiaries.
Connell has been bank commissioner of the State of Connecticut since 1975. He served on the Governor's Commission to Study Uniform Consumer Credit Code.