Robert K. Steel

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Robert K. Steel
Occupation President and CEO
Employer Wachovia Corporation
Location Charlotte, North Carolina

Robert K. Steel became president and CEO of Wachovia Corporation in 2008. He is also a chair of the board of trustees at Duke University.[1]

He was Under Secretary of the U.S. Treasury - Office of Domestic Finance before he took the position with Wachovia.[2]

Background

On July 9, 2008, Wachovia's board of directors appointed Steel as Wachovia's president and CEO and elected Steel to Wachovia's board of directors. Upon his hiring, Steel said Wachovia would concentrate on identifying and fixing problems in its residential mortgage and commercial real estate portfolios.[3]

In his capacity as Under Secretary, Steel served from 2006 until 2008 as the principal adviser to the Secretary on matters of domestic finance and leads the department’s activities with respect to the domestic financial system, fiscal policy and operations, governmental assets and liabilities, and related economic and financial matters.[4]

From February 2004 to September 2006, Steel served as a senior fellow at the Center for Business and Government at the John F. Kennedy School of Government at Harvard University.[5]

Steel retired from Goldman Sachs as a vice chairman of the firm on Feb. 1, 2004. He joined Goldman Sachs in 1976 and served in the Chicago office until his transfer to London in 1986. In London, he founded the Equity Capital Markets Group for Europe and was extensively involved in privatization and capital raising efforts for European corporations and governments. He later assumed the position as head of equities for Europe.

In 1994, Steel relocated to New York and served as head of the equities division from 1998 to 2001 until his appointment as a vice chairman of the firm. Steel became a partner in 1988 and joined the management committee in 1999. Upon his retirement from Goldman Sachs, he assumed the position of advisory director for the firm and then senior director in December 2004.

Education

Steel received an undergraduate degree in history and political science from Duke University and his MBA from the University of Chicago.

References

  1. Robert K. Steel. Wachovia.
  2. Robert K. Steel. Forbes.com.
  3. New CEO Admits Problems At Wachovia. The News & Observer.
  4. Robert Steel Under Secretary for Domestic Finance. U.S. Treasury.
  5. Robert K. Steel. The Aspen Institute.