Obama Announces More Key Treasury Appointments

WASHINGTON – Today, President Barack Obama announced his intent to nominate the following individuals to key posts at the Department of the Treasury: Herbert M. Allison, Jr., Assistant Secretary for Financial Stability, who will also have the title Counselor to the Secretary and be an advisor on policy matters; and William J. Wilkins, Chief Counsel for the Internal Revenue Service and an Assistant General Counsel in the Department of the Treasury.

President Obama said, “I am confident in the abilities of these two fine public servants as we work to turn our economy around and give American families the relief they need during these difficult times. Under the leadership of Secretary Geithner, they will work to serve the American people and bring their unique areas of expertise to the job as we work to put America on the path to prosperity.”

President Obama announced his intent to nominate the following individuals today:

Herbert M. Allison, Jr., Nominee for Assistant Secretary for Financial Stability and Counselor to the Secretary

Herbert M. Allison, Jr. was appointed as President and Chief Executive Officer of Fannie Mae in September 2008 by Director James Lockhart of Federal Housing Finance Agency, as conservator of Fannie Mae.  Prior to being appointed to Fannie Mae, he was Chairman, President and Chief Executive Officer of TIAA-CREF from 2002 until his retirement in 2008.  Allison began his professional career in 1971 as an associate in the investment banking division of Merrill Lynch in New York .  Allison served at various times as Treasurer, Director of Human Resources, Chief Financial Officer and Executive Vice President for the Investment Banking, Equity and Debt Divisions before being elected President, Chief Operating Officer and a member of the Board of Merrill Lynch & Co., Inc., in 1997.  After leaving Merrill Lynch in mid-1999, Allison served as National Finance Chairman for U.S. Senator John McCain\’s first Presidential Campaign.  From 2000 to 2002, Allison was President and Chief Executive Officer of the Alliance for Lifelong Learning, Inc., a joint venture of Oxford , Stanford and Yale Universities , offering online, college-level courses to adults.  Allison is a director of Time Warner Inc., and a member of the Advisory Board of the Yale School of Management, the Advisory Council of the Stanford Graduate School of Business, and the Federal Reserve Bank of New York \’s International Advisory Committee.  Allison was a director of the New York Stock Exchange from 2003-2005.  Allison earned a B.A. in Philosophy from Yale University . Following four years as an officer in the U.S. Navy, including a year in Vietnam , he received an M.B.A. from Stanford University .

William J. Wilkins, Nominee for Chief Counsel for the Internal Revenue Service and an Assistant General Counsel in the Department of the Treasury

William J. Wilkins of Washington , DC has been a partner in the Tax Practice Group of Wilmer Cutler Pickering Hale and Dorr LLP (also known as WilmerHale) since 1988.  He has a broad tax practice that includes counseling nonprofit organizations, business entities, and investment funds on tax compliance, business transactions, and government investigations.  Prior to joining WilmerHale, Wilkins was Staff Director and Chief Counsel of the United States Senate Committee on Finance.  Wilkins joined the Democratic staff of the Committee in 1981 and served as tax counsel before becoming Staff Director and Chief Counsel in 1987.  Prior to joining the Finance Committee staff, Wilkins was an associate with King & Spalding in Atlanta , GA.   Wilkins is Chair of the Section of Taxation of the American Bar Association, the nation’s largest association of tax lawyers.  He has been active in the Section for many years, having previously served as Section Vice-Chair and as Chair of two Section Committees.  He has previously served on the governing boards of the American College of Tax Counsel and the American Tax Policy Institute.  Wilkins is a graduate of Yale University and Harvard Law School .