Commissioner

Shaun Berrett

Shaun Berrett was appointed as the commissioner of the Utah Department of Financial Institutions by Governor Spencer J. Cox in March 2025. He was confirmed by the Utah State Senate on April 15, 2025. Shaun joined the department in 1998 as an examiner and has enjoyed a 26-year career in regulation. Shaun understands that a safe financial services industry that reliably meets the credit and deposit needs of Utah families and businesses is essential to our economy. Utah is home to a robust banking industry. Through its mission of chartering and examining the entities that furnish financial services to the people of Utah, the department ensures these products are delivered fairly by sound, well-regulated market participants who comply with the law.

Throughout his career, Shaun participated in a wide range of regulatory activities, including bank and credit union examinations, information technology examinations, and leading regulatory reviews at several large and complex institutions. Later, as an industry supervisor, Shaun established the department’s formal holding company supervision program. For several years, Shaun also served as the agency’s Supervisor of Industrial Banks, overseeing the nation’s largest portfolio of this unique type of institution. He also helped guide multiple bank organizers through the process of submitting new bank formation applications.

Shaun is a strong collaborator who built and maintained excellent relationships with other state bank regulators, and helped sustain the department’s critical partnerships with federal banking agencies. Shaun was elected by his peers in the western states to represent them on the board of directors of the Conference of State Bank Supervisors. Shaun was appointed as Chief Examiner in 2022 and now, as commissioner, is proud to carry on the legacy of quality supervision established by his predecessors. As commissioner, Shaun joins the board of trustees of the Utah Housing Corporation.

A Utah native, Shaun is a graduate of the University of Utah where he studied history and English while pursuing an early career in banking. Shaun and his wife, Bonnie, have three adult children. They love spending time at home around the firepit, exploring Utah’s natural wonders, or travelling far and wide to attend a good concert.