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President to Nominate Investment Banker for Treasury’s Senior Domestic Finance Position

Antonio Weiss Treasury Under SecretaryPresident Barack Obama will nominate Antonio Weiss, global head of investment banking at merger-advisory firm Lazard Ltd., for U.S. Treasury Under Secretary, the top domestic finance position with the government organization, according to a statement released by the White House.

Weiss, 48, is replacing Mary Miller, who left the Treasury Under Secretary position in September. Matthew Rutherford has been serving as acting Under Secretary since Miller's departure.

The appointment of Weiss as Treasury Under Secretary must be confirmed by the U.S. Senate. As Treasury's Under Secretary for domestic finance, Weiss will be responsible for implementing the Dodd-Frank Wall Street Reform Act and other financial regulation as well as coordinating capital markets, banking, and debt financing.

Weiss has been with Lazard since 1993 and has served in various leadership positions with the company, including managing director, vice chairman of European investment banking, and global head of mergers and acquisitions. He graduated with a bachelor's degree from Yale College and an MBA from Harvard Business School. At Harvard, Weiss was a Baker Scholar and Loeb Fellow in Finance.

President Obama issued the following statement regarding the nomination of Weiss and three others to key administration posts on Wednesday:

"I am confident that these experienced and hardworking individuals will help us tackle the important challenges facing America, and I am grateful for their service.  I look forward to working with them in the months and years ahead."

Lazard and Weiss have been the subject of some controversy due to the company's alleged involvement in tax-inversion deals, which involve American companies changing their addresses to foreign countries which have more tax-friendly laws in order to avoid paying taxes imposed by the U.S. government.

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

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