Tom Krause | |
|---|---|
| Fiscal Assistant Secretary of the Treasury | |
Acting | |
| Assumed office February 7, 2025 | |
| President | Donald Trump |
| Preceded by | Matthew Garber (acting) |
| Personal details | |
| Education | Princeton University (BA) |
Tom Krause is an American business executive who is both Fiscal Assistant Secretary of the Treasury and chief executive officer of the Cloud Software Group. Krause's dual positions have raised ethics concerns,as his company has contracts with the federal government worth millions.
He was briefly a member of the Department of Government Efficiency.
Krause earned a B.A. in economics from Princeton University. [1]
Krause began his career as an investment banking analyst at Robertson Stephens. [2] [1] He later worked at venture capital firm Technology Crossover Ventures for two years before serving as vice president of business development at Techwell for six years. [2] He then founded Krause Consulting Group,where he advised public and private technology companies on financial strategy. [2]
In 2016,Krause joined Avago Technologies as vice president of corporate development. [2] Following Avago's merger with Broadcom,he became Broadcom Inc.'s chief financial officer,overseeing financial functions,mergers and acquisitions,human resources,and investor relations. [2] In 2020,he was appointed president of Broadcom's software group,overseeing six software divisions. [3] He participated in negotiations for Broadcom's $61 billion acquisition of VMware and was involved in assessing VMware's research and development expenditures. [3]
In July 2022,Krause resigned from Broadcom and became chief executive officer of the Cloud Software Group,which owns Citrix Systems,Tibco,Spotfire,and Jaspersoft. [2] The company provides cloud and information technology services to a global customer base. [2] After Krause joined Cloud Software group it laid off 15 percent of its employees. [4] A year later it laid off an additional 12 percent. [5]
In January 2025,Krause became involved with the U.S. Treasury Department as part of the Department of Government Efficiency (DOGE). [2] He was assigned as a special government employee to review the federal payment system and was granted limited access as a liaison between the Treasury and DOGE. [6] [7] On February 7,2025,he was appointed as the Fiscal Assistant Secretary of the Treasury,succeeding Matthew Garber who had been acting in the role since David Lebryk's resignation. [6] Krause continued to work at Cloud Software Group despite his employment by DOGE,this has been cited as a potential conflict of interest. [8] [9]