Frank N. Newman
Encyclopedia
Frank Neil Newman is a United States
banker who served as Under Secretary of the Treasury for Domestic Finance from 1993 to 1994 and as United States Deputy Secretary of the Treasury
from 1994 to 1995.
on April 20, 1942. He was educated at Harvard College
, receiving a B.A. in Economics
in 1963.
Newman joined Peat Marwick Mitchell & Company in 1966 as a manager. In 1969, he moved to Citicorp as a Vice President. He joined Wells Fargo
in 1973, and worked there as a Vice President from 1973 to 1980, and then as an Executive Vice President and as Chief Financial Officer
from 1980 to 1986. He then moved to BankAmerica Corporation where he was ultimately Vice Chairman and Chief Financial Officer until his departure in 1993.
In 1993, President of the United States
Bill Clinton
nominated Newman to be Under Secretary of the Treasury for Domestic Finance. The next year, he became United States Deputy Secretary of the Treasury
, holding that office until 1995.
Newman then returned to the private sector, become Vice Chairman of Bankers Trust
and then serving as President and Chief Executive Officer
of Bankers Trust from 1996 to 1999. In 2005, he became CEO of Shenzhen Development Bank
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
banker who served as Under Secretary of the Treasury for Domestic Finance from 1993 to 1994 and as United States Deputy Secretary of the Treasury
United States Deputy Secretary of the Treasury
The Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the Secretary in his absence, sickness, or unavailability...
from 1994 to 1995.
Biography
Frank N. Newman was born in Quincy, MassachusettsQuincy, Massachusetts
Quincy is a city in Norfolk County, Massachusetts, United States. Its nicknames are "City of Presidents", "City of Legends", and "Birthplace of the American Dream". As a major part of Metropolitan Boston, Quincy is a member of Boston's Inner Core Committee for the Metropolitan Area Planning Council...
on April 20, 1942. He was educated at Harvard College
Harvard College
Harvard College, in Cambridge, Massachusetts, is one of two schools within Harvard University granting undergraduate degrees...
, receiving a B.A. in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
in 1963.
Newman joined Peat Marwick Mitchell & Company in 1966 as a manager. In 1969, he moved to Citicorp as a Vice President. He joined Wells Fargo
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
in 1973, and worked there as a Vice President from 1973 to 1980, and then as an Executive Vice President and as Chief Financial Officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
from 1980 to 1986. He then moved to BankAmerica Corporation where he was ultimately Vice Chairman and Chief Financial Officer until his departure in 1993.
In 1993, President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
nominated Newman to be Under Secretary of the Treasury for Domestic Finance. The next year, he became United States Deputy Secretary of the Treasury
United States Deputy Secretary of the Treasury
The Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the Secretary in his absence, sickness, or unavailability...
, holding that office until 1995.
Newman then returned to the private sector, become Vice Chairman of Bankers Trust
Bankers Trust
Bankers Trust was an historic American banking organization. The bank merged with Alex. Brown & Sons before being acquired by Deutsche Bank in 1998.-History:A consortium of banks created Bankers Trust to perform trust company services for their clients....
and then serving as President and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Bankers Trust from 1996 to 1999. In 2005, he became CEO of Shenzhen Development Bank
Shenzhen Development Bank
Shenzhen Development Bank Co., Ltd. is a bank based in Shenzhen, Guangdong, People's Republic of China. It is listed on the Shenzhen Stock Exchange.-External links:*...
.