Two More Cabinet Nominees

Biz BriefsTwo More Cabinet Nominees

Governor Jon Corzine last week nominated two key positions in his cabinet. He named corporate lawyer Steven M. Goldman as commissioner of Banking and Insurance and former Department of Transportation deputy Kris Kolluri as commissioner of Transportation.

Both departments face challenges.

Woodcliff Lake resident Goldman, a senior member and 22-year veteran of Newark-based law firm Sills Cummis Epstein & Gross, will take over a department that is working to attract medical malpractice and auto insurers. On the banking side, it will need to maintain a competitive banking environment while the number of independent banks decrease, new banks form and mergers continue.

Kolluri, a West Windsor resident who previously worked as chief of staff at the DOT under outgoing commissioner Jack Lettiere, faces a tapped-out Transportation Trust Fund. The fund, which pays for road building and mass transportation projects, is expected to go broke at the end of June unless the state finds new revenue sources. Kolluri, who has worked as a lawyer at Marlton-based Parker McCay for the past year, is slated to replace Acting Commissioner Donald Bryan.

Corzine said, “Both Steve Goldman and Kris Kolluri understand the unique challenges facing their departments and have assured me that they are as eager as I am to get New Jersey back on track.”