WASHINGTON -- NCUA Chairman JoAnn Johnson was on hand to observe the swearing in ceremony for Robert K. Steel, the new under secretary for domestic finance.
Steel will serve as the principal adviser to Treasury Secretary Henry Paulson on matters of domestic finance and lead activities with respect to the domestic financial system, fiscal policy and operations, governmental assets and liabilities, and related economic and financial matters.
"Robert Steel comes to this post with impeccable credentials, and the kind of experience that sends a very positive signal to the financial institution community," Johnson said. "I look forward to building on the excellent relationship that NCUA enjoyed with Under Secretary Steel's predecessor, Randal Quarles, and continuing a substantive dialogue on matters of common interest such as reform of prompt corrective action for credit unions."
Chairman Johnson is scheduled to meet with Under Secretary Steel early in November for a private policy discussion.
Steel retired from Goldman Sachs as a vice chairman after serving with the firm for 28 years. Upon his retirement he assumed the position of advisory director for the firm and then senior director in December 2004. From February 2004 to September 2006 Steel served as a senior fellow at the Center for Business and Government at the John F. Kennedy School of Government at Harvard University. He received his undergraduate degree from Duke University and his MBA from the University of Chicago.