WL Ross taps Lockhart as vice chairman

James B. Lockhart III, will join WL Ross & Co. as vice chairman in September, confirmed Doug Kidd, spokesman for Invesco (IVZ), WL Ross' parent company. This is a new position.

Mr. Lockhart is director and chairman of the oversight board of the Federal Housing Finance Agency, which oversees federal home loan banks as well as Fannie Mae and Freddie Mac. He announced in early August that he planned to resign as FHFA director.

Mr. Lockhart worked in both of President George W. Bush's administrations. He served in various positions from 2002 to 2006; from 1989 to 1993, he was executive director of the Pension Benefit Guaranty Corp.