Press Release - Personnel Announcement

President George W. Bush today announced his intention to nominate Henry M. Paulson, Jr., of New York, to be Secretary of the Treasury. Mr. Paulson currently serves as Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc. He also serves as Chairman of the Financial Services Forum.

Mr. Paulson joined Goldman Sachs in 1974 and became a partner eight years later. From 1983 until 1988, he directed Investment Banking Services for the Midwest Region and became Managing Partner of the Chicago Office in 1988. In 1990, he was named Co-Head of the company's Investment Banking Division and four years later became President and Chief Operating Officer. Mr. Paulson was named Co-Senior Partner in 1998 and became Chairman and Chief Executive Officer in 1999.

Prior to joining Goldman Sachs, Mr. Paulson was an Associate Director for the Domestic Policy Council at the White House. Mr. Paulson received his bachelor's degree from Dartmouth College and his master's degree from Harvard University.