FROM THE OFFICE OF PUBLIC AFFAIRS

December 6, 2004
JS-2129

Timothy S. Bitsberger Sworn in as Treasury Assistant Secretary for
Financial Markets

Timothy S. Bitsberger was sworn in today by Secretary John W. Snow as Treasury's Assistant Secretary for Financial Markets. President Bush nominated him to the post on May 11, 2004; the U.S. Senate confirmed Bitsberger on November 21, 2004.

As Assistant Secretary, Bitsberger will lead the efforts of the Office of Financial Markets to formulate policy on federal debt management and financial markets oversight. He will advise the Under Secretary for Domestic Finance on policy and legislation on federal finance market issues and examine the impact of such policies on industries and the markets.

Prior to joining the Treasury Department Bitsberger worked on Wall Street for more than 15 years. He has extensive experience trading bonds and derivatives. In 1999 he was a Senior Vice President of Investments at Salomon Smith Barney. Before that, he worked as a consultant for J.F. Lehman & Company, a LBO firm. From 1989 to 1998 he was a Senior Trading Manager and Vice President for NationsBanc Capital Markets in New York. He was a trader for Drexel Burnham Lambert from 1985 to 1989.

Bitsberger earned an MBA from Harvard University in 1985 after graduating from Yale University in 1981 with a B.A. in Economics.

He was appointed in October of 2001 to serve as Deputy Assistant Secretary for Federal Finance. He has served as Acting Assistant Secretary for Financial Markets since July 16, 2004.