Former U.S. Deputy Treasury Secretary Peter McPherson has been named financial coordinator for Iraqi reconstruction, Treasury Secretary John Snow has announced.

In an April 25 news release, Snow said that McPherson will serve as the principal financial and economic policy advisor to Jay Garner, chief of the U.S. Office of Reconstruction and Humanitarian Assistance (ORHA) in Iraq.

McPherson's background includes service as administrator of the U.S. Agency for International Development (USAID) from 1981 to 1987. He is currently president of Michigan State University.

In a separate announcement, Snow said that Treasury Deputy General Counsel George Wolfe will serve as the deputy financial coordinator of the Iraq reconstruction office.

The two officials and will work closely with Iraqis to assist in rebuilding the finance ministry, the central bank and the banking system in Iraq, Treasury said.

April 25, 2003

McPherson Named Financial Coordinator for Office of Reconstruction and Humanitarian Assistance (OHRA) in Iraq

WASHINGTON, DC -- U.S. Treasury Secretary John Snow today announced that Peter McPherson will serve as Financial Coordinator for the Office of Reconstruction and Humanitarian Assistance (ORHA) in Iraq. In this role, McPherson will serve as the principal financial and economic policy advisor to Director of ORHA, Jay Garner.

"Peter McPherson brings a wealth of experience in the public and private sector, including the presidency of a major university, to this new position," stated Treasury Secretary John Snow.

In his capacity as Financial Coordinator, McPherson will work closely with Iraqis to assist in rebuilding the finance ministry, the central bank and the banking system. McPherson will be working for the Director of ORHA and will receive support from the Department of the Treasury.

McPherson has served as the President of Michigan State University since 1993. Prior to accepting the post at Michigan State, he held a variety of senior positions at Bank of America, beginning in 1989, as Group Executive Vice President working in international banking, global debt restructuring, and investment management.

McPherson's service in the U.S. Federal Government includes Deputy Secretary of the Treasury (August 1987 - March 1989); Administrator, U.S. Agency for International Development (February 1981 - August 1987); Chairman of the Board, Overseas Private Investment Corporation (February 1981 - August 1987); and Special Assistant to President Ford (March 1975 - January 1977).

He has also served as managing partner in the Washington office of the law firm of Vorys, Seymour and Pease (January 1977 - November 1980); has served on the boards of several corporations and educational organizations; and has worked in Peru as a Peace Corps volunteer (1964 - 1965).

McPherson received a B.A. in Political Science from Michigan State University (1963), an M.B.A. from Western Michigan University (1967), and a J.D. from American University Law School (1969). McPherson is married to Joanne McPherson. They have four grown children.

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Wolfe Named Deputy Financial Coordinator for Office of Reconstruction and Humanitarian Assistance (ORHA) in Iraq

WASHINGTON, DC -- U.S. Treasury Secretary John Snow today announced that Treasury Deputy General Counsel George Wolfe will serve as Deputy Financial Coordinator for the Office of Reconstruction and Humanitarian Assistance (ORHA) in Iraq. In this role, Wolfe will serve as Deputy to ORHA Financial Coordinator Peter McPherson, also named today.

In his capacity as Deputy Financial Coordinator, Wolfe will work closely with the Financial Coordinator and Iraqis to assist in rebuilding the finance ministry, the central bank and the banking system.

Wolfe has served as Treasury Department Deputy General Counsel since 2001. Prior to joining Treasury, Wolfe was a partner in Nelson, Mullins, Riley, and Scarborough, a 300-attorney law firm headquartered in Columbia, South Carolina (1984 - 2001). He has also previously served on the Investment Policy Advisory Committee (INPAC), which advises the United States Trade Representative on foreign investment issues. In the 1990s, he worked with his native State of South Carolina to develop economic development policies and legislation.

Wolfe is a native of Columbia, South Carolina, and graduated from Washington and Lee University cum laude in 1973. He received his J.D. cum laude from the University of Pennsylvania in 1977. He is married and has one son.