TASC Chairman Named NYC Deputy Mayor

Mayor Michael R. Bloomberg has appointed Robert K. Steel, former Under Secretary for Domestic Finance at the U.S. Department of Treasury and Chair of the TASC Board of Directors, as Deputy Mayor for Economic Development. From 2006 to 2008, Deputy Mayor Steel served as chief advisor to the Treasury Secretary on financial and economic matters. Prior to that appointment, he spent 28 years at Goldman Sachs, ultimately rising to co-head of the U.S. Equities Division and Vice Chairman of the firm. He later co-founded SeaChange Capital Partners, a national nonprofit that helps nonprofits grow. After leaving the Treasury Department, Deputy Mayor Steel became president and CEO of Wachovia bank, leading its business-saving merger with Wells Fargo. He currently serves as Board chair of the Aspen Institute.

TASC President Lucy N. Friedman said, "All of New York will now benefit from the wisdom, energy and creativity Bob Steel has brought to the work of expanding learning opportunities for kids as TASC's chairman. We know that Bob shares with Mayor Bloomberg the conviction that strong schools and community partnerships are the foundation for New York's economic prosperity. We congratulate Bob and wish him well in the exciting work ahead."

In announcing the appointment, Mayor Bloomberg said, "One of the hallmarks of our Administration is that our team has been comprised of the best and brightest people in their fields. Bob Steel is an extraordinarily accomplished businessman and public servant, and we are extremely fortunate to have someone of his caliber join us. His time in the public and private sectors and academic world gives him a diversity of experience that will be invaluable to us as he takes on this new role. New York City is working through a difficult economic period, and now more than ever we need to find new ways to create jobs today and implement innovative measures to grow New York City's economy over the long-term. Bob Steel is going to help us do that."

• To read the full press release and to see a video clip of the announcement, go to NYC.gov.