Frank N. Newman | |
---|---|
6th United States Deputy Secretary of the Treasury | |
In office September 28, 1994 –March 5, 1995 | |
President | Bill Clinton |
Preceded by | Roger Altman |
Succeeded by | Lawrence Summers |
Acting United States Secretary of the Treasury | |
In office December 22,1994 –January 11,1995 | |
President | Bill Clinton |
Preceded by | Lloyd Bentson (as Secretary of the Treasury) |
Succeeded by | Robert Rubin (as Secretary of the Treasury) |
Under Secretary of the Treasury for Domestic Finance | |
In office November 5,1993 –September 28,1994 | |
President | Bill Clinton |
Preceded by | Jerome Powell |
Succeeded by | John D. Hawke Jr. |
Personal details | |
Born | Frank Neil Newman April 20,1942 Quincy,Massachusetts,U.S. |
Alma mater | Harvard University (A.B.) |
Frank Neil Newman (born April 20,1942) is an American banker who served as Under Secretary of the Treasury for Domestic Finance from 1993 to 1994 and as United States Deputy Secretary of the Treasury from 1994 to 1995.
Frank N. Newman was born in Quincy,Massachusetts,on April 20,1942. He was educated first at Thayer Academy and then later at Harvard College,receiving a B.A. in Economics in 1963. [1]
Newman joined Peat Marwick Mitchell &Company in 1966 as a manager. In 1969,he moved to Citicorp as a Vice President. He joined Wells Fargo in 1973,and worked there as a Vice President from 1973 to 1980,and then as an Executive Vice President and as Chief Financial Officer from 1980 to 1986. In 1986 Newman then moved to BankAmerica Corporation where he was ultimately Vice Chairman and Chief Financial Officer,where he led the bank though substantial recovery until his departure in 1993. [1]
In 1993,President of the United States Bill Clinton nominated Newman to be Under Secretary of the Treasury for Domestic Finance. The next year,he became United States Deputy Secretary of the Treasury,holding that office until 1995. [2]
Newman then returned to the private sector. He became Vice Chairman of Bankers Trust. He then served as President and Chief Executive Officer of Bankers Trust from 1996 to 1999. [3] [4]
In 2005,he became CEO of Shenzhen Development Bank,a national listed bank with operations in 20 cities in China, [5] SDB had come under serious troubles when a U.S based private equity organisation purchased 20% of the bank's shares,at this point Newman led the team that eventually turned around performance of the institution to become healthy and profitable again,this was done without government funding or guarantees. [1] In 2010,after the sale of the majority interest of the bank,Newman retired and became an Independent Senior Advisor to SBD and also serves as chairman in for china based promontory financial group,an IBM subsidiary. [6] [1]
The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal advisor to the president of the United States on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of the president's cabinet and, by law, a member of the National Security Council.
John William Snow is an American economist, attorney, and businessman who is the former CEO of CSX Corporation and served as the 73rd United States secretary of the treasury under U.S. President George W. Bush. He replaced Secretary Paul H. O'Neill on February 3, 2003 and was succeeded by Henry Paulson on July 3, 2006. Snow submitted a letter of resignation on May 30, 2006, effective "after an orderly transition period for my successor." Snow announced on June 29, 2006 that he had completed his last day on the job; Robert M. Kimmitt served as acting secretary until Paulson was sworn in. Snow has since worked as chairman of Cerberus Capital Management.
Roger Charles Altman is an American investment banker, the founder and senior chairman of Evercore, and a former Democratic politician. He served as Assistant Secretary of the Treasury in the Carter administration from January 1977 until January 1981 and as Deputy Secretary of the Treasury in the Clinton administration from January 1993 until he resigned in August 1994, amid the Whitewater controversy.
Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corporation in 2003.
The American Bankers Association (ABA) is a Washington, D.C.-based trade association for the U.S. banking industry, founded in 1875. They lobby for banks of all sizes and bank charters, including community banks, regional and money center banks, Federal savings associations, mutual savings banks, and trust companies. The average member bank has approximately $250 million in assets. ABA is the largest financial trade group in the United States.
Robert Stanley Nichols is an American association executive and former public official. He is currently the president and CEO of the American Bankers Association. He was previously president and CEO of the Financial Services Forum from 2005 to 2015 and an assistant secretary at the U.S. Treasury Department during the George W. Bush administration.
Northern Trust Corporation is an American financial services company headquartered in Chicago, Illinois that caters to corporations, institutional investors, and ultra high net worth individuals. Northern Trust is one of the largest banking institutions in the United States and one of the oldest banks in continuous operation. As of June 30, 2022, it had $1.7 trillion in assets under management and $17 trillion in assets under custody. Northern Trust Corporation is incorporated in Delaware.
Douglas 'Sandy' Warner is an American banker who joined Morgan Guaranty Trust Company of New York out of college in 1968 as an officer's assistant and rose through the ranks to become chief executive officer and chairman of the board of J.P. Morgan & Co. Inc. in 1995. Among his many accomplishments, Warner may be best known for spearheading the 2000 sale of J P Morgan & Co. to Chase Manhattan Bank for $30.9 billion.
Executive Schedule is the system of salaries given to the highest-ranked appointed officials in the executive branch of the U.S. government. The president of the United States appoints individuals to these positions, most with the advice and consent of the United States Senate. They include members of the president's Cabinet, several top-ranking officials of each executive department, the directors of some of the more prominent departmental and independent agencies, and several members of the Executive Office of the President.
Stuart A. Levey was the first Under Secretary for Terrorism and Financial Intelligence within the United States Department of the Treasury. He was sworn in on July 21, 2004 as a political appointee of President George W. Bush. President Barack Obama asked Levey to remain in his position and Levey was one of only a small number of Senate-confirmed Bush appointees who served in the Obama Administration. After leaving the government, Levey joined the private sector as chief legal officer of HSBC, CEO of Diem Association and chief legal officer of Oracle.
Betsy Duke is an American bank executive who served as a member of the Federal Reserve Board of Governors from 2008 to 2013. Duke was confirmed by the Senate to fill an unexpired term ending January 31, 2012. She was the seventh woman to be appointed to the board. In July 2013, she announced her resignation from the board.
Neal Steven Wolin is the CEO of the corporate advisory firm Brunswick Group, an equity partner of Data Collective, a board partner of Social Capital, and a limited partner advisor of Nyca Partners. He is the longest-serving Deputy Secretary of the U.S. Department of the Treasury and also served as Acting Secretary of the Treasury in early 2013.
Ronald Allan "Ron" Rosenfeld is an American politician and housing expert. Rosenfeld has previously served in numerous U.S. federal and Oklahoma state government positions relating to housing. He served as chair of the Federal Housing Finance Board and president of the Government National Mortgage Association under president of the United States George W. Bush and as Oklahoma Secretary of Commerce under governor of Oklahoma Frank Keating.
David George Nason is an American lawyer, government official and corporate executive from Washington, DC. He served as the president and CEO of GE Energy Financial Services, a unit of General Electric (GE) from 2013 to 2018. Previously at GE, he was the Chief Regulatory Officer and Compliance Leader at GE Capital. Nason is one of 190 GE officers globally. From 2005–2009 he served as Assistant Secretary for Financial Institutions under Treasury Secretary Henry M. Paulson, during which time he was a key architect of the federal government's response to the financial crisis of 2008.
Brian Carlton Roseboro is a United States banker who was Assistant Secretary of the Treasury for Financial Markets from 2001 to 2004 and Under Secretary of the Treasury for Domestic Finance from 2004 to 2005.
Jeffrey A. Goldstein is a United States economist who was Under Secretary of the Treasury for Domestic Finance from March 27, 2010, to 2011. Jeffrey is currently the chairman of the board of directors of Fidelity National Information Services (FIS).
The Specially Designated Nationals and Blocked Persons List, also known as the SDN List, is a United States government sanctions/embargo measure targeting U.S.-designated terrorists, officials and beneficiaries of certain authoritarian regimes, and international criminals. The list is managed by the U.S. Treasury’s Office of Foreign Assets Control (OFAC). When individuals are added to the list of Specially Designated Nationals (SDN), their U.S. assets are blocked. Moreover, their names are added to automated screening systems used by banks in the United States and many foreign countries, making it difficult for them to open or hold accounts, transfer money, or transact properties internationally. Any individual or entity that provides support related to terrorism, drug trafficking or unauthorized military use to any person or entity appearing on the SDN list risks being penalized under the USA PATRIOT Act.
He Lifeng is a Chinese economist and politician who has served as vice premier of the People's Republic of China since March 2023. He has additionally been a member of the Politburo of the Chinese Communist Party since October 2022, and served as the director of the Office of the Central Financial and Economic Affairs Commission since October 2023.
Zhang Yun is a Chinese economist and banker who served as president of Agricultural Bank of China (ABC) from January 2009 to December 2015. He had also served as vice-president and deputy party chief of the bank. In November 2015 he was taken away by the anti-graft authorities. He spent over 30 years working at the bank and was appointed vice-chairman, president and deputy secretary of the Party committee at the bank in 2009. Zhang Yun is so far the most high-profile bank executive in China caught since Communist Party General Secretary Xi Jinping's continues an anti-graft dragnet at all levels of government, military and ruling Communist Party. His predecessor, Xiang Junbo, was also sacked for graft.