Ryan withdraws from Treasury nomination

Apr 20, 2007 @ 12:00 pm

By Aaron Siegel

JPMorgan Chase & Co. chief executive T. Timothy Ryan has withdrawn himself from consideration to be the Department of the Treasury's top international policy adviser, according to published reports.

The Wall Street Journal had reported earlier that Mr. Ryan's nomination would be pulled, citing problems over his financial portfolio and the White House confirmed the withdrawal yestereday.

Mr. Ryan is currently vice chairman of financial institutions and governments at J.P. Morgan Chase.

In February, the White House said Mr. Bush intended to nominate Mr. Ryan to replace Tim Adams as Treasury under secretary for international affairs.

Mr. Ryan was director of the Office of Thrift Supervision from April 1990 until early December 1992, where he led the extensive overhaul of the savings and loans industry after dozens of them collapsed.

A Treasury official, speaking on a condition of anonymity, said Mr. Adams' last day in office will be April 27, according to the reports.

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