by CBS4 Newsroom
newsroom@cbs4qc.com
The Associated Press is reporting that President Obama will nominate Jack Lew as the next Secretary of the Treasury.
Jack Lew is currently serving as President Barack Obama's Chief of
Staff. Prior to this role, he was the Director of the Office of
Management and Budget (OMB), a position he previously held from 1998 to
2001. Before returning to OMB in 2010, Lew was the first Deputy
Secretary of State for Management and Resources, in which capacity he
served as Chief Operating Officer of the department.
Before joining the State Department, Lew served as managing director
and chief operating officer of Citi Global Wealth Management and then
Citi Alternative Investments (CAI). Prior to that, he was executive
vice president and chief operating officer of New York University, where
he was responsible for budget, finance, and operations, as well as a
professor of public administration. From 2004 through 2008, Lew served
on the Corporation for National and Community Service Board and chaired
its Management, Administration, and Governance Committee.
Lew served in President Clinton's cabinet as the Director of the Office
of Management and Budget (OMB). From 1998 to 2001, he led the
Administration budget team and served as a member of the National
Security Council. During his tenure at OMB, the U.S. budget operated at
a surplus for three consecutive years. Earlier, Lew served as OMB's
Deputy Director and was a member of the negotiating team that reached a
bi-partisan agreement to balance the budget. As Special Assistant to
President Clinton from 1993 to 1994, Mr. Lew helped design Americorps,
the national service program.
Lew began his career in Washington in 1973 as a legislative aide. From
1979 to 1987, he was a principal domestic policy advisor to House
Speaker Thomas P. O'Neill, Jr, where he served at the House Democratic
Steering and Policy Committee as Assistant Director and then Executive
Director. There, he was the Speaker's liaison to the Greenspan
Commission, which negotiated a bipartisan solution to reform Social
Security in 1983 and was responsible for domestic and economic issues,
including Medicare, budget, tax, trade, appropriations, and energy
issues.
Before joining the Obama Administration, Lew co-chaired the Advisory
Board for City Year New York and was on the boards of the Kaiser Family
Foundation, the Center on Budget and Policy Priorities, the Brookings
Institution Hamilton Project, and the Tobin Project. He is a member of
the Council on Foreign Relations, the National Academy of Social
Insurance, and of the bar in Massachusetts and the District of Columbia.
