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THE WHITE HOUSE

Office of the Press Secretary


For Immediate Release June 27, 1997

PRESIDENT CLINTON NAMES GARY GENSLER AS ASSISTANT SECRETARY FOR FINANCIAL MARKETS AT DEPARTMENT OF THE TREASURY

President Clinton today announced his nomination of Gary Gensler to become Assistant Secretary for Financial Markets at the Department of the Treasury.

Mr. Gensler is currently a partner at the investment banking firm of Goldman Sachs & Co., where he serves as Co-head of Finance worldwide. In this position, Mr. Gensler oversees all treasury and controller functions, managing over 500 employees. He also serves on the firm's Risk, Finance and Credit Committees. From 1994 to 1995, Mr. Gensler was the Chief Financial Officer (CFO) in Asia. In this position, he managed all control and support divisions in Asia. From 1992 to 1994, he was co-head of the Fixed Income Division in Tokyo, where he fully integrated fixed income and foreign exchange businesses. From 1984 to 1991, Mr. Gensler was head of the Media Group, Mergers and Acquisitions. Mr. Gensler graduated summa cum laude in 1978 from the Wharton School at the University of Pennsylvania, with a Bachelor of Science in Economics, and in 1979 with a Masters of Business Administration from the Graduate Division of Wharton.

As Assistant Secretary for Financial Markets, Mr. Gensler will serve as senior advisor to the Secretary of the Treasury in developing and implementing the Federal Government's policies and plans for debt management and the sale of U.S. government securities. He will further advise on broad matters of Federal, State and local finance, including leading the Treasury's participation in the financing of the District of Columbia. Mr. Gensler will serve as a senior member of the Treasury Financing Group and the Working Group on Financial Markets.

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