Stefan M. Selig

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Stefan M. Selig
Stefan M. Selig.jpg
Under Secretary of Commerce for International Trade
In office
June 4, 2014 –June, 2016

In November 2013, President Barack Obama nominated Selig as Under Secretary for International Trade at the Department of Commerce to replace Frank Sanchez. [6]

During the United States congressional hearing before the Senate Committee on Finance on 8 May 2014 it became known that Selig invested in offshore funds of buy-out firm Sun Capital Partners Fund V, which "in 2010 was domiciled [...] in the Cayman Islands, and in 2012 [...] at the now infamous Ugland House." [7] Orrin Hatch (R) reminded the committee that President Obama had characterized these types of investments as “betting against America" during his 2012 election campaign. [7] Selig was the Executive Director of the Travel and Tourism Advisory Board and on the Board of Directors of the Overseas Private Investment Corporation (OPIC). [8]

Agenda

Upon his confirmation on June 4, 2014, U.S. Secretary of Commerce Penny Pritzker said that Selig's core priorities were the 'Open for Business Agenda', the National Export Initiative and the expansion of SelectUSA to attract more investment in the U.S. [9]

Selig oversaw more than 2,200 trade and investment professionals, based in 110 U.S. cities and 77 countries, where he deployed a budget of over $500 million. [8] In 2015, he expanded SelectUSA, the first federal effort to promote the US as the world’s most attractive investment destination. [10] He advocated for the Trans-Pacific Partnership and in May 2015, rejected EU concerns that the arbitration panel for investor-state dispute settlement would allow companies to bypass national courts, calling criticism that it undermined governments' right to regulate "misguided". [11] Selig thought the TPP would go through in 2016. [12] He led the International Trade Administration to strengthen U.S. industry competitiveness, promote trade and investment and to improve the global business environment. [8] In 2015, Selig´s teams reauthorized Trade Promotion Authority for the first time in thirteen years, concluded the Information Technology Agreement, a World Trade Organization agreement which covers 200 information and communications technology products valued at $1 trillion in global trade and negotiated the Transatlantic Trade and Investment Partnership. [13] He established the U.S.-India Strategic and Commercial Dialogue [14] the U.S.-Japan Commercial Dialogue, and the U.S.-Argentina Commercial Dialogue. [15] In 2014, Selig achieved outcomes with the Mexican Government through the High-Level Economic Dialogue, co-chaired by Vice President Biden. [16]

He was commissioner for the Congressional Executive Commission on China, directed the President’s Advisory Council on Doing Business in Africa and has been a lifetime member of the Council on Foreign Relations. [17] [18] [19] He revamped operations and priorities for U.S. commercial diplomacy staff. [20]

Investigation

In late June 2016, Selig left the Commerce Department as the Inspector General's office was completing an investigation into his business expense reimbursements for luxury hotels while traveling. [21] The Inspector General's report stated that Selig never knowingly made any improper claim for reimbursement and that “it does not seem plausible that Selig would take any action to obtain questionable reimbursements." [22] Selig claimed in a letter to the editor that he had "followed proper protocol" and delegated the handling of his travel expenses. [23]

Personal life

Selig is married to Heidi Selig. Selig previously served as a member of the board of directors of Lincoln Center for the Performing Arts and Services for the UnderServed, which supports individuals and families facing challenging situations. [24]

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References

  1. ↑ Steve Straehley, David Wallechinsky (6 April 2014). "Under Secretary of Commerce for International Trade: Who is Stefan Selig?". allgov.com/. Retrieved 2016-09-17.
  2. ↑ Andrew Ross Sorkin (April 27, 2007). "One of the Best Recruiters in the Neighborhood". The New York Times. Retrieved 13 May 2014.
  3. 1 2 Dana, Mattioli (7 November 2013). "Bank of America's Selig Nominated for Commerce Department Post". WSJ. Retrieved 14 May 2014.
  4. ↑ "Stefan M. Selig, Managing Partner". BridgePark Advisors. 2021-08-21.
  5. ↑ "Industrial and consumer SPAC Rotor Acquisition prices upsized $240 million IPO". NASDAQ. January 14, 2021.
  6. ↑ Lennard, Natasha (18 February 2014). "Obama trade officials received huge bank bonuses". Salon.com. Retrieved 26 July 2014.
  7. 1 2 U.S. Senator Orrin Hatch. "Hatch Statement at Finance Committee Hearing on Trade and Social Security Advisory Board Nominations" (PDF). Retrieved 13 May 2014.
  8. 1 2 3 "Programme Biographies: Excess Capacity and Structural Adjustment in the Steel Sector" (PDF). OECD. 18 April 2016.
  9. ↑ Pritzker, Penny (6 June 2014). "Statement from U.S. Commerce Secretary Penny Pritzker on the Confirmation of Stefan Selig as Under Secretary of Commerce for International Trade". US Dept of Commerce. Retrieved 1 July 2014.
  10. ↑ "Under Sec. Stefan Selig on the Lid re SelectUSA", soundcloud.com, siriusXM, March 26, 2015, retrieved 2016-09-17
  11. ↑ "US rejects EU proposal for investment court, insists on retaining ISDS". EurActiv. EurActiv France with AFP. 11 May 2015. Retrieved 30 May 2015.
  12. ↑ Victoria Guida (6 April 2016) Taking the TPP temperature Politico, retrieved 26 April 2016
  13. ↑ "Statement from U.S. Under Secretary of Commerce for International Trade Stefan M. Selig on Passage of Trade Promotion Authority Legislation - June 26, 2015". trade.gov. Retrieved 2016-09-17.
  14. ↑ "First India-US Strategic and Commercial Dialogue Next Month" . Retrieved 2016-09-17.
  15. ↑ "Visit of Stefan Selig U.S. Embassy in Argentina". 2016-05-19. Retrieved 2016-09-17.
  16. ↑ "Commerce's Selig on U.S.-Mexico Trade Relationship". iipdigital.usembassy.gov. Retrieved 2016-09-17.
  17. ↑ "Stefan M. Selig -". trade.gov. 12 November 2014. Retrieved 2016-09-17.
  18. ↑ "Stefan M. Selig, Undersecretary of Commerce for International Trade" (PDF). United States Department of Commerce. 18 February 2016.
  19. ↑ "Doing Business in Africa". trade.gov. Retrieved 2016-09-17.
  20. ↑ Weidenhamer, Deb (20 October 2014). "Growing American Exports, One Small Business at a Time" . Retrieved 2016-09-17.
  21. ↑ Rein, Lisa (9 September 2016). "Top Obama trade official was partial to luxury hotels while he traveled on taxpayers' dime, investigators say". Washington Post. Retrieved 9 September 2016.
  22. ↑ "Final Report 15-0444" (PDF). United States Department of Commerce, Office of the Inspector General. September 2016. p. 45. Retrieved 9 June 2018.
  23. ↑ Stefan Selig (2016-09-16). "I followed proper protocol regarding my travel expenses" (letter to the editor). The Washington Post. ISSN   0190-8286 . Retrieved 2016-09-17.
  24. ↑ "Stefan M. Selig profile, Huffington Post". www.huffingtonpost.com. Retrieved 2016-09-17.
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