Herbert M. Allison
From Wikipedia, the free encyclopedia
Herbert M. Allison, Jr. (born 1943) is currently serving as Assistant Secretary of the Treasury for Financial Stability of the United States. He was confirmed by the Senate on June 19, 2009. As such, he develops as well as coordinates United States Department of the Treasury policies concerning financial stability. As part of his duties he also oversees the Troubled Asset Relief Program (TARP), the $700 billion fund to purchase assets and equity from financial institutions in order to strengthen the financial sector of the economy.
His previous position was as President and CEO of Fannie Mae, a post to which he was appointed in September 2008.Prior to that, Mr. Allison was Chairman, President and Chief Executive Officer of TIAA-CREF from 2002 until his retirement in 2008.
Mr. Allison began his career at Merrill Lynch as an associate in investment banking and served variously as Treasurer, Director of Human Resources, Chief Financial Officer, Executive Vice President, President, Chief Operating Officer and as a member of the Board during his 28 years there.
From 2000 to 2002, Mr. Allison was President and Chief Executive Officer of the Alliance for Lifelong Learning, Inc., which offers online, college-level courses to adults.
Allison currently is a member of several boards and advisory councils including Time Warner Inc., Yale School of Management, Stanford Graduate School of Business, and the International Advisory Committee of the Federal Reserve Bank of New York. From 2003 to 2005 he was a director of the New York Stock Exchange.
Allison, the son of an FBI agent, earned a B.A. in philosophy from Yale University. Following four years as an officer in the U.S. Navy, including one year in Vietnam, he received an M.B.A. from Stanford University.
- ^ a b c d Press Room, U S Department of Treasury."Herbert M. Allison, Jr. Confirmed as Assistant Secretary for Financial Stability", U.S. Department of Treasury, June 19, 2009.
- ^ a b c d "Wall Street Journal Topics: Herb Allison", "Wall Street Journal", Accessed July 17, 2009.
- ^ a b Kuhnhenn, Jim. "Fannie Mae CEO Herbert Allison Named Treasury's Bank Bailout Chief", "Huffington Post", April 17, 2009.