THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON NAMES MARTIN A. KAMARCK TO BE PRESIDENT OF THE EXPORT-IMPORT BANK OF THE UNITED STATES President Clinton announced today the appointment of Martin
A. Kamarck of New York to serve as President and Chairman of the Board of Directors of the Export-Import Bank of the United States. Mr. Kamarck will serve as a recess appointee. He was nominated on December 21, 1995 and his nomination is pending before the Senate.
Martin Kamarck currently serves as First Vice-President of the Export-Import Bank. Prior to his appointment, Mr. Kamarck was a director and a consultant at the Export-Import Bank. Mr. Kamarck is a former co-director of the Structured Finance Department of the Financial Guaranty Insurance Company (FGIC) where he supervised and directed the mortgage backed securities and real estate finance business lines. Mr. Kamarck is also a former partner and chair of the business department of the Morrison and Forester law firm's Washington, D.C. office.
Mr. Kamarck received a B.A. in 1971 with honors in English Literature from Haverford College and in 1975 received a J.D. from Stanford University Law School where he was a member of the Board of Editors for the Stanford Law Review. Mr. Kamarck and his wife Elaine currently reside in Bethesda, Maryland. They have three children.
The Export-Import Bank of the United States facilitates export financing of U.S. goods and services by matching the effect of export credit subsidies from other governments and by absorbing reasonable credit risks that are beyond the current reach of the private sector. The Bank also encourages foreign buyers to purchase U.S. exports by offering competitive, fixed-rate loans. The President has recess appointed Mr. Kamarck because of the need to provide continuity in leadership within the international exporting and importing financial community as well as to provide stability within financial markets.