Paul ONeill is positioned to become Secretary of the Treasury, following his nomination by President-elect George W. Bush. O'Neill is chairman of Alcoa and has a background in the public sector. Among his government posts, he served as deputy director of the U.S. Office of Management and Budget from 1974-1977.
Federal Reserve Board Chairman Alan Greenspan in a statement on the appointment said, "In Paul O'Neill, the President-elect has attracted an exceptional and talented person. I look forward to again working closely with an old friend and colleague."
ABA Executive Vice President Donald G. Ogilvie commented, "Paul O'Neill has impeccably good judgment, is extraordinarily smart and is very familiar with all aspects of government. Put that all together and it makes for a superbly qualified candidate." Ogilvie served as associate director at the Office of Management and Budget during O'Neill's tenure as deputy director.
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