David Nason

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As a managing director at Promontory Financial Group, Nason advised financial institutions on strategic matters including corporate governance, risk and financial controls, due diligence, potential combinations and regulatory requirements. [18] Nason was a frequent commentator on Bloomberg and CNBC, and a sought-after source on financial matters among other national media. In May 2009, he testified before the Senate Committee on Homeland Security & Governmental Affairs, urging Congress to modernize U.S. regulatory structures so they keep up with the financial innovations driven by rapid capital mobility, deep liquidity and technology. [19]

In December 2009, in an opinion piece in The New York Times , Nason called for a re-examination of the Troubled Asset Relief Program (TARP) repayment standards. [20]

GE Capital, 2010–2013

In August 2010, Nason was named senior vice president and chief regulatory and compliance officer for GE Capital. In this role, Nason led the global regulatory and compliance team and is preparing GE Capital for the changing regulatory environment in markets around the world. [21]

GE Energy Financial Services, 2013–2018

David Nason was president and CEO of GE Energy Financial Services, where he led GE's energy investments worldwide. GE Energy Financial Services has 35+ years of experience managing energy assets through multiple economic cycles, and a global portfolio that spans conventional and renewable power, and oil and gas infrastructure projects. Nason chaired the business’ investment committee and was responsible for a $14 billion portfolio of investments in both debt and equity.

Teachers Insurance and Annuity Association of America (TIAA), 2019–Present

TIAA, a leading financial services provider, announced in September 2019 that David G. Nason joined the company as Executive Vice President and Chief Risk and Compliance Officer. In this newly created position, Nason led the combined Risk Management and Compliance functions for the company which assists TIAA as its risk and compliance needs evolve in a dynamic market. [22] [23]

He is now Chief Operating Officer of TIAA and President of TIAA Wealth Management.

Honors and awards

For Nason's service during the financial crisis and his contributions to regulatory reform, he was given the Alexander Hamilton Award, the Treasury's highest honor. [24]

In 2009, Nason was designated a Young Global Leader by the World Economic Forum., [25] aligning him with others who were recognized for their commitment to shaping the global future. [26]

Also in 2009, Nason received the American University's Kogod School of Business's Community Leadership Award, which honors those who have demonstrated leadership in business and who have influenced both their company and their community. [27]

Board seats

In May 2007, Nason was appointed by President George W. Bush and confirmed by the Senate to serve on the board of directors of the National Cooperative Bank (NCB), [28] an institution chartered by Congress in 1978 to serve the financial needs of cooperatives.

In 2008, Nason was designated by Secretary Paulson to serve on the board of the Securities Investor Protection Corporation (SIPC), [29] a federal non-profit corporation that protects securities investors from financial harm if a broker-dealer company fails.

Nason serves on the Board of Directors of TIAA Bank, the Board of Directors of IntraFi Network, and on the Board of Advisors for the Hospital for Special Surgery in New York City.

Personal life

Nason was born and raised in Providence, Rhode Island. His father was a UPS driver. [14] Nason earned a B.S./B.A. in finance from The American University in 1992 and a J.D., summa cum laude , from The American University's Washington College of Law in 1995. [30]

Nason is married to Nicole Nason, a former assistant secretary at the U.S. Department of Transportation who served as the administrator at the National Highway Traffic Safety Administration from May 2006 to September 2008 and currently serves as Administrator of the Federal Highway Administration. [31] [32] They reside in Virginia.

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References

  1. ↑ Nominations of David G. Nason, Mario Mancuso, Robert M. Couch, Michael W. Tankersley, Nguyen Van Hanh, and Janis Herschkowitz: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Tenth Congress, First Session, on Nominations of David G. Nason, of Virginia, to be Assistant Secretary for Financial Institutions of the Department of the Treasury and to be a Member of the Board of Directors for the National Consumer Cooperative Bank; Mario Mancuso, of New York, to be Under Secretary for Export Administration of the Department of Commerce; Robert M. Couch, of Alabama, to be General Counsel for the Department of Housing and Urban Development; Michael W. Tankersley, of Texas, to be Inspector General for the Export-Import Bank of the United States; Nguyen Van Hanh, of California, to be a Member of the Board of Directors for the National Consumer Cooperative Bank; Janis Hershkowitz, of Pennsylvania, to be a Member of the Board of Directors for the National Consumer Cooperative Bank, Thursday, May 10, 2007 – page 4
  2. ↑ Covington & Burling Archived 2010-05-28 at the Wayback Machine
  3. ↑ Judge Marvin Garbis
  4. ↑ Nason Remarks Archived 2010-05-27 at the Wayback Machine
  5. ↑ Deputy Assistant Secretary Appointment Archived 2010-03-13 at the Wayback Machine
  6. ↑ Assistant Secretary Appointment
  7. ↑ American Banker, "The Other Name Paulson's Plan Has Put in the Spotlight," 6-9-08
  8. ↑ US News, Treasury's Money Market Guarantee Program Ends, 9-18-09
  9. ↑ Treasury Press Release Archived 2010-05-28 at the Wayback Machine
  10. ↑ Wall Street Journal, "Treasury Official Behind Finance Overhaul," 4-1-08
  11. ↑ Nason Senate Testimony on Reforming GSE Regulation Archived 2010-05-27 at the Wayback Machine
  12. ↑ Mortgage Banking Magazine, Q&A with Treasury's David G. Nason, 4-1-08
  13. ↑ American Banker, "The Other Name Paulson's Plan Has Put in the Spotlight"
  14. 1 2 Wall Street Journal, "Treasury Official Behind Finance Overhaul"
  15. ↑ Quotation of Treasury Undersecretary Robert K. Steel, American Banker
  16. ↑ Andrew Ross Sorkin, Too Big to Fail (Viking 2009), pp. 49–51
  17. ↑ Henry M. Paulson, Jr., On the Brink (Business Plus 2010), pp. 353, 263
  18. ↑ Promontory Website
  19. ↑ Nason Senate Testimony, 5-21-09
  20. ↑ Nason, "Redefining How To Repay TARP," The New York Times 12-14-09
  21. ↑ Nason Appointment, GE Press Press
  22. ↑ Press Release: TIAA announces David G. Nason as EVP, Chief Risk and Compliance Officer 09-23-2019
  23. ↑ "TIAA creates top risk and compliance role" Corporate Secretary 09-25-2019
  24. ↑ Hamilton Award
  25. ↑ World Economic Forum Award Archived May 5, 2009, at the Wayback Machine
  26. ↑ World Economic Forum, Young Global Leaders Archived 2010-03-09 at the Wayback Machine
  27. ↑ AU Business School's Community Leadership Award
  28. ↑ "NCB Appointment". Archived from the original on 2016-06-08. Retrieved 2010-03-15.
  29. ↑ "SIPC Appointment" (PDF). Archived from the original (PDF) on 2010-06-15. Retrieved 2010-03-15.
  30. ↑ Nason Education Archived 2010-05-28 at the Wayback Machine
  31. ↑ "For NHTSA Chief Nason, Family Influences Policy". Archived from the original on 2010-09-27. Retrieved 2010-03-15.
  32. ↑ Nicole Nason's NHTSA Appointment
David Nason
DavidNason2020.png
Assistant Secretary of the Treasury for Financial Institutions
In office
March 2007 –March 2009
Government offices
Preceded by Assistant Secretary of the Treasury for Financial Institutions
2007–2009		Succeeded by
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