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SALT LAKE CITY (AP) -- The White House announced President Bush would nominate Utah native to be an undersecretary at the Treasury Department.
In the position, Randal K. Quarles would have oversight of U-S banking and financial markets and managing the national debt.
Quarles is currently the assistant secretary of Treasury in charge of international affairs and has been serving as the acting undersecretary of the branch. Prior to that, Quarles was the U-S executive director of the International Monetary Fund.
The nomination will require approval by the Senate Finance Committee and the full Senate.
Quarles was raised in Roy and received a philosophy degree from Columbia College and a law degree from Yale Law School. He spent 17-years working as a Wall Street lawyer.
(Copyright 2005 by The Associated Press. All Rights Reserved.)