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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release January 16, 1998

      PRESIDENT CLINTON NAMES DAVID L. AARON AND TIMOTHY GEITHNER 
                 AS MEMBERS OF THE BOARD OF DIRECTORS 
            OF THE OVERSEAS PRIVATE INVESTMENT CORPORATION

The President today announced his intent to appoint David L. Aaron and Timothy Geithner as Members of the Board of Directors of the Overseas Private Investment Corporation.

Mr. David Aaron, of Sag Harbor, New York, currently serves as the Under Secretary for International Trade at the U.S. Department of Commerce and is responsible for policies and programs that promote world trade and strengthen the international trade and investment position of the United States. Mr. Aaron has extensive experience in both national and international issues. Prior to this appointment, he served for four years as U.S. Ambassador to the Organization for Economic Cooperation and Development. In 1996, the White House announced his appointment as Special Envoy for Cryptography, giving him the responsibility of promoting the growth of international electronic commerce and robust, secure global communications in a manner that protects public safety and national security. Mr. Aaron has also held positions in the Foreign Service, and at the National Security Council. He has served on the Staff of Senator Walter Mondale, on the Senate Select Committee on Intelligence, as Deputy National Security Advisor to President Carter, and as Vice President for Mergers and Acquisitions at Oppenheimer and Company.

Mr. Timothy Geithner, of New York, New York, currently serves as the Assistant Secretary for International Affairs at the Department of Treasury. His responsibilities include advising the Secretary and Deputy Secretary on all aspects of international economics, financial, and monetary policy developments. Prior to his appointment, he served as Senior Deputy Assistant Secretary for International Affairs. He has also served as the Deputy Assistant Secretary for International Monetary and Financial Policy and as the Assistant Financial Attache in Japan. Prior to joining the Treasury Department, Mr. Geithner worked for Kissinger Associates, Inc. He received a B.A. in Government and Asian studies from Dartmouth College in 1983, and an M.A. in International Economics and East Asian Studies from Johns Hopkins University in 1985.

The Overseas Private Investment Corporation is a self-sustaining federal agency whose purpose is to promote economic growth in developing countries by encouraging U.S. private investment in those nations.

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