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Frank N. Newman | |
|---|---|
| 6thUnited States Deputy Secretary of the Treasury | |
| In office September 28, 1994 – March 5, 1995 | |
| President | Bill Clinton |
| Preceded by | Roger Altman |
| Succeeded by | Lawrence Summers |
| United States Secretary of the Treasury | |
| Acting December 22, 1994 – January 11, 1995 | |
| President | Bill Clinton |
| Preceded by | Lloyd Bentson |
| Succeeded by | Robert Rubin |
| Under Secretary of the Treasury for Domestic Finance | |
| In office November 5, 1993 – September 28, 1994 | |
| President | Bill Clinton |
| Preceded by | Jerome Powell |
| Succeeded by | John D. Hawke Jr. |
| Personal details | |
| Born | Frank Neil Newman (1942-04-20)April 20, 1942 (age 83) Quincy,Massachusetts, U.S. |
| Education | Harvard University (BA) |
Frank Neil Newman (born April 20, 1942) is an Americanbanker who served asUnder Secretary of the Treasury for Domestic Finance from 1993 to 1994 and asUnited States Deputy Secretary of the Treasury from 1994 to 1995.
Frank N. Newman was born inQuincy, Massachusetts, on April 20, 1942. He was educated first atThayer Academy and then later atHarvard College, receiving aB.A. inEconomics in 1963.[1]
Newman joinedPeat Marwick Mitchell & Company in 1966 as a manager. In 1969, he moved toCiticorp as a Vice President. He joinedWells Fargo in 1973, and worked there as a Vice President from 1973 to 1980, and then as an Executive Vice President and asChief Financial Officer from 1980 to 1986. In 1986 Newman then moved toBankAmerica Corporation where he was ultimately Vice Chairman and Chief Financial Officer, where he led the bank though substantial recovery until his departure in 1993.[1]
In 1993,President of the United StatesBill Clinton nominated Newman to beUnder Secretary of the Treasury for Domestic Finance. The next year, he becameUnited States Deputy Secretary of the Treasury, holding that office until 1995.[2]
Newman then returned to the private sector. He became Vice Chairman ofBankers Trust. He then served as President andChief Executive Officer of Bankers Trust from 1996 to 1999.[3][4]
In 2005, he became CEO ofShenzhen Development Bank, a national listed bank with operations in 20 cities in China,[5] SDB had come under serious troubles when a U.S based private equity organisation purchased 20% of the bank's shares, at this point Newman led the team that eventually turned around performance of the institution to become healthy and profitable again, this was done without government funding or guarantees.[1] In 2010, after the sale of the majority interest of the bank, Newman retired and became an Independent Senior Advisor to SBD and also serves as chairman in for china based promontory financial group, an IBM subsidiary.[6][1]
| Political offices | ||
|---|---|---|
| Preceded by | Under Secretary of the Treasury for Domestic Finance 1993–1994 | Succeeded by |
| Preceded by | United States Deputy Secretary of the Treasury 1994–1995 | Succeeded by |
| Preceded by | United States Secretary of the Treasury Acting 1994–1995 | Succeeded by |
| International | |
|---|---|
| National | |
| Other | |
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