Neal S. Wolin

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Neal Wolin
Neal S. Wolin official portrait.jpg
Chair of the Intelligence Oversight Board
In office
May 24, 2015 – January 20, 2017
PresidentBarack Obama
Preceded byDan Meltzer
United States Secretary of the Treasury
Acting
In office
January 25, 2013 – February 28, 2013
PresidentBarack Obama
Preceded byTimothy Geithner
Succeeded byJack Lew
United States Deputy Secretary of the Treasury
In office
May 18, 2009 – August 31, 2013
PresidentBarack Obama
Preceded byRobert Kimmitt
Succeeded byMary Miller (Acting)
Sarah Bloom Raskin
Personal details
Born (1961-12-09) December 9, 1961 (age 57)
Evanston, Illinois, U.S.
Political partyDemocratic
EducationYale University (BA, JD)
Balliol College, Oxford (MS)
OccupationCEO, Brunswick Group
Known forGreat Recession era U.S. fiscal reform

Neal Steven Wolin (born December 9, 1961)[1] 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.

In 2009, following eight years with The Hartford Financial Services Group, Wolin was appointed Deputy Secretary of the U.S. Department of the Treasury by President Barack Obama, where he led the U.S. government's financial reform plan during the Great Recession, including the Dodd-Frank Wall Street Reform and Consumer Protection Act. He resigned as Deputy Secretary in August 2013.

Wolin also served during the Clinton administration for eight years, including as general counsel and Deputy General Counsel of the Treasury, and as a staff member of the United States National Security Council.

Early life and education[edit]

Wolin was born and raised in Evanston, Illinois, where he graduated from Evanston Township High School in 1979. His father, Harry S. Wolin, was a lawyer; and his mother, Doris Wolin, was a former public school teacher.

Graduated summa cum laude with a B.A. in history from Yale University, Wolin also served as president of the Yale Political Union. He then received a M.S. in Development Economics from Oxford University, as a Charles and Julia Henry Fellow; and subsequently earned a J.D. from Yale University, where he was a Coker Teaching Fellow in Constitutional Law.[2]

Career[edit]

Following law school, Wolin served as a law clerk to U.S. District Judge Eugene Nickerson in Brooklyn, New York, and taught as an adjunct professor of law at Brooklyn Law School. Wolin also worked at the Washington, D.C. law firm of Wilmer, Cutler & Pickering.

From 1990 to 1993, Wolin served as Special Assistant to three Directors of Central Intelligence: William H. Webster, Robert Gates, and R. James Woolsey, Jr..[3]

Clinton administration[edit]

From 1993 to 1994, Wolin served as Deputy Legal Advisor to the National Security Council.[4]

In 1994, Wolin became an executive assistant to National Security Advisor Anthony Lake and Deputy National Security Advisor Sandy Berger.[5]

From 1995 to 1999, he served as the Deputy General Counsel of the Department of the Treasury, under Secretary Robert Rubin.[2]

In November 1998, he was appointed to the President's Commission on Holocaust Assets in the United States.[6]

From September 15, 1999 to January 20, 2001, Wolin served as General Counsel of the U.S. Department of the Treasury, under Secretary Lawrence Summers.[2]

In January 2001, Secretary Summers presented Wolin the Alexander Hamilton Award, the highest honor awarded to a Treasury official.

In early 2001, Wolin was also visiting fellow in economic studies at the Brookings Institution, and an adjunct assistant professor at the Kennedy School of Government at Harvard University.

The Hartford[edit]

In March 2001, Wolin joined The Hartford Financial Services Group as executive vice-president and general counsel, overseeing the company's legal and tax departments, government affairs, communications, and marketing functions. In 2007, he succeeded David K. Zwiener as president and COO of the company's property and casualty insurance subsidiaries.[7]

Obama administration[edit]

In February 2009, shortly after Barack Obama took office, Wolin returned to Washington, D.C. as Deputy Assistant to the President and Deputy Counsel to the President for Economic Policy.

In March 2009, he was nominated as Deputy Secretary of the United States Department of the Treasury by President Obama, then confirmed by the senate on May 18, 2009. Wolin served as United States Acting Secretary of the Treasury from January 25 to February 28, 2013, prior to the confirmation of Jack Lew, who was nominated by Obama to succeed Secretary Timothy Geithner.[2][8][9]

Wolin was a "key architect" of U.S. financial reforms during the Great Recession,[10] and was instrumental to the development and implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.[11] The Act aimed to upgrade "the foundation for a stronger financial system – closing regulatory gaps, increasing transparency for consumers, and strengthening prudential requirements,” including an annual “stress-test” by the Federal Reserve of the 33 banks designated as being “systemically important” to the U.S. economy.[2][12][13]

From early 2009 until late 2013, during his tenure as Deputy Treasury Secretary, Wolin also chaired the Committee on Foreign Investment in the United States (CFIUS), which reviews, for national security reasons, any transaction that would result in a foreign entity having control over a U.S. asset.[14][15][16]

In July 2011, Wolin was appointed to the Government Accountability and Transparency Board.[17]

In January 2013, Wolin was awarded a second Alexander Hamilton Award by Secretary Timothy Geithner.[18]

On July 22, 2013, President Obama officially announced Wolin’s retirement as Deputy Secretary at the end of August 2013, stating that “His deep knowledge and excellent judgment helped us prevent a second Great Depression, pass tough new Wall Street reform, strengthen our financial system, foster growth here at home, and promote economic development around the world.”[19]

In August 2014, he was appointed to the President’s Intelligence Advisory Board, from which he later resigned on January 20, 2017.[20]

Brunswick Group[edit]

In February 2018, Wolin was appointed as CEO of the global corporate advisory firm Brunswick Group.[21]

Board memberships and professional affiliations[edit]

Wolin is a member of the Council on Foreign Relations, and of the bars of Illinois, Connecticut, and the District of Columbia.[2][22] Current affiliations include:

Member, Board of Overseers, RAND Institute for Civil Justice.[23]

Board partner, Social Capital[24]

Equity partner, Data Collective[24]

Limited Partner Advisor, Nyca Partners[24]

Board member, WAVE[24]

Board member, SIGFIG[25]

Board member, APRISS[26]

Board member, Trelian[27]

Board member, Partnership for Public Service[28]

Board member, Atlantic Council[29]

Advisor, Raptor Intelligence, Inc.[24]

Advisor, Jupiter Intelligence[24]

Advisor, Covr Advisory Board, Covr Financial Technologies, LLC[24]

Personal life[edit]

In July 2001, he met Nicole Louise Elkon, who had also been on staff at the White House during the Clinton administration;[9] the couple married at the Jewish Center of the Hamptons in East Hampton, New York.[30]

References[edit]

  1. ^ Marquis Who's Who on the Web
  2. ^ a b c d e f US Treasury "Neal Wolin Deputy Secretary of the Treasury"; U.S. Department Of The Treasury; June 24, 2013.
  3. ^ "President Obama Announces More Key Administration Posts" Office of the Press Secretary, The White House, Washington, DC; Aug. 28, 2014.]
  4. ^ U.S. Senate EXECUTIVE COMMITTEE MEETING FOR CONFIRMATION OF JAMES G. HUSE, JR., TO BE INSPECTOR GENERAL, SOCIAL SECURITY ADMINISTRATION; AND NEAL S. WOLEN, TO BE GENERAL COUNSEL, DEPARTMENT OF THE TREASURY; Committee on Finance, United States Senate; Washington, DC; OCTOBER 13, 1999, p. 4.
  5. ^ Kamen, Al "RIVLIN FINDS NEW DEPUTY NEARBY, The Washington Post; April 21, 1995.
  6. ^ "PRESIDENT CLINTON NAMES MEMBERS OF THE PRESIDENTIAL ADVISORY COMMISSION ON HOLOCAUST ASSETS IN THE UNITED STATES", Office of the Press Secretary, The White House, Washington, DC; November 30, 1998.
  7. ^ Siegel, Aaron "The Hartford names president and COO"; Investment News, Investment News LLC; June 11, 2007. Retrieved 01-12-18.
  8. ^ Silverman, Noah "REFLECTIONS FROM THE FORMER DEPUTY TREASURY SECRETARY"; NoahSilverman.com; February 2, 2015. Retrieved 01-12-18.
  9. ^ a b Biederman, Danny "Wolin, Neil"; ALLGOV.com; Retrieved 01-12-18.
  10. ^ White, Ben "Financial Services Roundtable CEO Bartlett: Dodd-Frank 'succeeds in addressing many critical issues'", Politico; July 15, 2010. Retrieved 03-12-18.
  11. ^ Goldfarb, Zachary A. "Deputy Treasury Secretary Neal Wolin to step down; led efforts on financial regulations", The Washington Post; July 22, 2010. Retrieved 03-12-18.
  12. ^ "After Dodd-Frank" "American banks think they are over-regulated", The Economist, May 4, 2017. Retrieved 03-12-18.
  13. ^ Fu, Lisa "Is Dodd-Frank Crippling Banks or Saving Them?", Fortune via Yahoo Finance; August 4, 2017. Retrieved 03-12-18.
  14. ^ Liptondec, Eric "Questions on Security Mar Foreign Investments".The New York Times; Dec. 17, 2009. Retrieved 03-12-18.
  15. ^ US Treasury "Remarks by Deputy Secretary Neal S. Wolin at the Singapore Exchange", United States Department of the Treasury; May 20, 2011. Retrieved 03-12-18.
  16. ^ Wolin N. and Finnegan, Alex "Far From A Deal Done", China Business Review; April 3, 2017. Retrieved 03-12-18.
  17. ^ US Treasury "White House Launches Government Accountability and Transparency Board to Cut Waste and Boost Accountability", Office of the Press Secretary, The White House, Washington, DC.; July 28, 2011. Retrieved 03-12-18.
  18. ^ U S Treasury Erb, Kelly Phillips] "Leadership Shakeup At Treasury May Signal Change in Obama's Fiscal Strategy", Forbes; Jan. 9, 2013. Retrieved 03-12-18.
  19. ^ "Deputy Secretary Neal S. Wolin Departing Treasury After More Than Four Years of Service". U.S. Department of the Treasury. Retrieved 23 July 2013.
  20. ^ White House "President Obama Announces More Key Administration Posts", Office of the Press Secretary, The White House, Washington, DC.; August 28, 2014. Retrieved 03-12-18.
  21. ^ Brunswick Group "Brunswick announces new Group Chief Executive Officer and Chief Operating Officer"; Brunswick Group LLP; Feb. 8, 2018. Retrieved 18-11-17.
  22. ^ CFR Membership Roster, Council on Foreign Relations. Retrieved 03-12-18.
  23. ^ Rand Inst. "RAND Institute for Civil Justice Board of Overseers"; Oct. 2018. Retrieved 03-12-18.
  24. ^ a b c d e f g Bloomberg "Company Overview of Brunswick Group LLP Neal Steven Wolin", Bloomberg Group; December 03, 2018. Retrieved 03-12-18.
  25. ^ SIGFIG "Meet The Team", SIGFIG Wealth Management LLC; 2018. Retrieved 03-12-18.
  26. ^ APRISS "Board of Directors", APRISS Inc; 2018. Retrieved 03-12-18.
  27. ^ Trelian "Governance", Trelian Risk Advisors; 2018. Retrieved 03-12-18.
  28. ^ Partnership for Public Service "Neal S. Wolin CEO, Brunswick Group"; 2018. Retrieved 03-12-18.
  29. ^ Atlantic Council "Board of Directors"; 2018. Retrieved 03-12-18.
  30. ^ New York Times: "WEDDINGS/CELEBRATIONS; Nicole Elkon, Neal Wolin" June 01, 2003
Political offices
Preceded by
Robert Kimmitt
United States Deputy Secretary of the Treasury
2009–2013
Succeeded by
Mary Miller (Acting)
Sarah Bloom Raskin
Preceded by
Timothy Geithner
United States Secretary of the Treasury
Acting

2013
Succeeded by
Jack Lew
Government offices
Preceded by
Dan Meltzer
Chair of the Intelligence Oversight Board
2015–2017
Succeeded by
vacant