Nason to Replace Henry as Treasury Assistant Secretary for Financial Institutions

WASHINGTON — President George W. Bush has said he intends to nominate David G. Nason as the next Treasury Assistant Secretary for Financial Institutions after Emil Henry recently submitted his resignation. Nason currently serves as deputy assistant secretary for financial institutions at the Treasury. Prior to this, he served as counsel to a commissioner of the Securities and Exchange Commission. He has also been an attorney in the private practice of Covington & Burling and clerk to Judge Marvin J. Garbis of the United States District Court for the District of Maryland. Nason holds a bachelor’s degree and JD from American University. Henry, in his letter of resignation, said he wants to return to his family in New York and private life. “The Treasury is a remarkable institution filled with extraordinary individuals,” he wrote. “I am proud to have worked with such a group and thank you for giving me the opportunity to work on so many important initiatives including enhancing the competitiveness of our capital markets, working closely with the President’s Working Group on Financial Markets, establishing comprehensive procedures and protocols to protect our financial institutions and markets in the event of a crisis, reviewing the explosive growth of hedge funds and derivatives, reintroducing the 30-year bond, launching the National Strategy for Financial Literacy, working to improve and reform the Terrorism Risk Insurance Act and the GSEs.” Treasury Secretary Henry Paulson commented, “The Department will miss his creative thinking, energy and tremendous leadership. I respect his decision to return to private life. I know that commuting between Washington and New York has been difficult for Emil and a burden on his family. With great appreciation, I wish him continued success in his career and personal life.”