WASHINGTON — Under Secretary of the Treasury for Domestic Finance Randy Quarles announced his intent Aug. 10 to return to the private sector at the close of this Congress.
"I am particularly honored to have worked with my relentlessly dedicated and enormously professional colleagues on the Treasury staff, who are one of our country's great national assets," Quarles wrote in his letter of resignation.
Prior to his current post, Quarles served at Treasury as assistant secretary for international affairs (2001-2005) and U.S. executive director of the International Monetary Fund (2001-2002).
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"Randy has played a major role in an unusually broad range of matters–from the Argentine debt default to terrorism risk insurance, and from Chinese currency flexibility to GSE reform," Treasury Secretary Henry Paulson said. "I was disappointed to learn when I arrived that Randy had long planned to return to the private sector around the time of this year's mid-term elections, but I am fortunate that he has agreed to be very active in helping me formulate my policy agenda, and over the long term I will continue to rely on his advice and counsel."
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