New York DFS chief Adrienne Harris to step down

New York Governor Kathy Hochul announced on Monday that Adrienne Harris will step down as Superintendent of the state’s Department of Financial Services (DFS) after four years of service.

Kaitlin Asrow, currently Executive Deputy Superintendent of Research & Innovation, will assume the role of Acting Superintendent effective Oct. 18, 2025. Hochul credited Harris with strengthening DFS’s consumer protections and regulatory framework, including recovering more than $725 million in restitution for New Yorkers and establishing DFS as a global leader in digital asset oversight.

Harris, appointed in August 2021, reshaped DFS into a more assertive financial regulator. She expanded consumer protections — recovering more than $725 million in restitution for New Yorkers — and positioned the agency as a global leader in crypto oversight.

Under her tenure, DFS grew its Virtual Currency Unit into one of the largest supervisory teams worldwide, introduced guardrails for artificial intelligence in insurance, and advanced fairness in financial services. Harris also became the first DFS leader to sit on the US Financial Stability Oversight Council, giving the agency a stronger voice in federal financial policy debates.

Asrow, who joined DFS after serving as a senior policy advisor at the Federal Reserve, has led the department’s work on fintech and digital assets. She helped regulate a growing roster of crypto firms and guided policy on financial inclusion and innovation.

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