THE WHITE HOUSE
Office of the Press Secretary
President Names Lee F. Jackson as U.S. Director of the European
Bank for Reconstruction and Development
The President today announced his intent to nominate Lee F. Jackson of Massachusetts to be the United States Director of the European Bank for Reconstruction and Development.
Lee F. Jackson is currently the United States Alternate Executive Director of the European Bank for Reconstruction and Development (EBRD). He was appointed to this position by President Clinton in September, 1993. Mr. Jackson has successfully advocated significant institutional change at the EBRD. During his tenure, the Bank has increased investment activity while reducing administrative costs.
Prior to his current appointment, Mr. Jackson served as Treasurer of the City of Boston, Massachusetts, where he was responsible for collecting and investing $1.3 billion of annual revenue and financing a $1.1 billion capital plan. Mr. Jackson was appointed Treasurer in August, 1988 by Mayor Raymond L. Flynn.
Mr. Jackson was born on May 12, 1958 in Glen Ridge, New Jersey. He received a B.A., cum laude, in economics from Williams College in 1979 and an M.B.A. from Stanford University in 1983.
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) is responsible for the bank's ecumenical operations. The United States' Director represents the U. S. on this Board. The Executive Directors exercise power delegated to them by the EBRD's Board of Governors, including the authority to establish lending programs, approve the borrowing of funds by the institution, and to interpret the Bank's charter.