The U.S. Senate confirmed Neil S. Wolin, a former insurance company executive, as deputy treasury secretary.
Wolin had been serving since February as deputy assistant to the president and deputy counsel for economic policy. From 2001 and 2008, he worked for The Hartford Financial Services Group Inc., a major insurance company, most recently as president and chief operating officer of its property and casualty division.
Wolin also served in various advisory roles in the Clinton administration.
The Hartford is one of a number of insurance companies recently approved to receive bailout funding. It said last week it could receive as much as $3.4 billion from the Troubled Asset Relief Program, but the arrangement is contingent on its ability to close a deal to purchase the troubled Florida-based Federal Trust Bank.
Wolin's confirmation is a step forward for the Treasury Department, which has come under criticism for being understaffed. Officials have cited the Obama administration's strict conflict of interest rules and in-depth background checks as reasons for the delay in hiring.
Wolin had been serving since February as deputy assistant to the president and deputy counsel for economic policy. From 2001 and 2008, he worked for The Hartford Financial Services Group Inc., a major insurance company, most recently as president and chief operating officer of its property and casualty division.
Wolin also served in various advisory roles in the Clinton administration.
The Hartford is one of a number of insurance companies recently approved to receive bailout funding. It said last week it could receive as much as $3.4 billion from the Troubled Asset Relief Program, but the arrangement is contingent on its ability to close a deal to purchase the troubled Florida-based Federal Trust Bank.
Wolin's confirmation is a step forward for the Treasury Department, which has come under criticism for being understaffed. Officials have cited the Obama administration's strict conflict of interest rules and in-depth background checks as reasons for the delay in hiring.
published May 19, 2009, 0 Comments
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