J.P. Morgan executive tapped for U.S. Treasury post

U.S. President George W. Bush will nominate J.P. Morgan Chase & Co. executive T. Timothy Ryan to be the Treasury Department's top international policy adviser, The Wall Street Journal reported on Wednesday.

If confirmed by the Senate, Ryan, a form er director of the Office of Thrift Supervision in President George H.W. Bush's administration, would succeed Tim Adams as Treasury undersecretary for international affairs.

The position is one of the administration's key economic contacts with the Group of Seven leading industrial nations, the report said.

Ryan, 61 years old, is Treasury Secretary Henry Paulson's latest recruit from Wall Street. He is currently vice chairman of financial institutions and governments at J.P. Morgan Chase.

Paulson, the former Goldman Sachs Group Inc. chief executive, has already lured Robert Steel and Neel Kashkari to Treasury from his old firm, according to the report.

2007-03-01