He is credited with reviving the Presidents Working Group, which was the core group then prepared to respond to the global economic crisis of 2008. Steel explained that although the Treasury had believed that the rescue of Bear Stearns was necessary, it had encouraged a low sale price so as not to encourage risky behavior by other large institutions. In December 2009, he testified before the Joint Economic Committee of the U.S. House and Senate regarding financial reform. The group was described by the New York Times as a "center-right version of the Center for American Progress. Both Steel and Gillian are active in civic life. Left-Handed "The Fallen Star Knife" $452.45. He became vice chairman in 2000, and on July 1, 2005, he succeeded Peter M. Nicholas as the first Durham native to chair the board since its founding as a university in 1924. During Steel's term as chair, the board completed a $300 million financial aid initiative,[30] saw record freshman applications,[31] and completed several buildings on campus including the Nasher Museum of Art. Available tax filings reveal that the foundation awarded nearly $3 million in grants between 2017 and 2018. Treasury Secretary Henry Paulson later said of Steel: "He's very good at smoothing over conflicts; and when there's tensions, bringing the temperature down. At the time, Europe was privatizing major state-owned enterprises, like telecom, utility and energy interests, to transition to more market-driven economies. [4] Upon his retirement from Goldman Sachs on February 1, 2004, he became advisory director and then senior director in December 2004. Following the merger, Steel was invited to join the board of Wells Fargo and served on the firm's credit and finance committees. Steel also oversaw a significant expansion of New York’s transportation network, including CitiBike, the largest bikesharing system in North America, the East River Ferry, Five-Borough taxi service, 5 bus rapid transit lines, and the expansion of the #7 subway line to 34th Street and 11th Avenue, the first major expansion of the subway system in decades. Books and Articles Referencing Robert Steel. He later became head of Goldman Sachs Equities for Europe. "[24], In 2004, Steel and another former partner at Goldman Sachs, Charles T. Harris III, founded SeaChange Capital Partners, a nonprofit organization that arranges transformational funding for outstanding nonprofit organizations that help low-income youth. As Under Secretary, Mr. Steel tackled complex challenges in credit markets and the economy. [43], Although Steel was appointed to his Treasury post by a Republican president, he does not regard himself as an ideologue, and has been occasionally criticized for his political independence. Together, these institutions will double the number of engineering faculty and graduate students in New York City over the next decade. $50.00. Quick view Pre-Order Now. He co-founded SeaChange Capital Partners, which assists nonprofit organizations scale rapidly via a nationwide donor network. He managed the Departments Blueprint for Modernized Regulatory Structure, which recommended several of the reforms since pursued by the Obama administration. He was the principal adviser to the secretary on matters of domestic finance and led the department's activities regarding the U.S. financial system, fiscal policy and operations, governmental assets and liabilities, and related economic matters. Its asset management arm oversees $11.5 billion in capital.[18]. Steel was extensively involved in the privatizationand capital-raising efforts for European co… In 1987, Goldman Sachs sent him to work in its London office, where he spent seven years helping to privatize state-owned businesses in Europe. The couple has supported private schools including Chase Collegiate School, the Windward School, and Riverdale Country School, where their daughter once worked. [16] In 2010, upon being appointed Deputy Mayor for Economic Development of New York City, Steel resigned his seat on the Wells Fargo board. [41], He is also a member of the Pew Charitable Trusts Task Force on Financial Reform, which advises the United States Congress on critical financial reform issues. The Steels support education and youth, New York City, policy, arts and culture, health and human services. Quick view. The After-School Corporation, 2004–06, 2008–2010, Hospital for Special Surgery, 2009–present, Deputy Mayor of New York City for Economic Development and Rebuilding, Under Secretary of the Treasury for Domestic Finance, http://www.pwpartners.com/media/143015/Perella%20Weinberg%20Partners%20Release%20(5.28.14).pdf, Duke University, Office of News and Communications, May 14, 2005, Barclays Board Appointments, June 1, 2005, The Chronicle of Philanthropy's Philanthropy Careers, May 28, 2009, Thinkprogress.org blog, December 10, 2008, $5 billion withdrawn in one day in silent run, Affidavit of Robert K. Steel October 5, 2008, US Department of the Treasury Press Room, March 15, 2007, US Department of the Treasury Press Room, February 26, 2007, American Enterprise Institute for Public Policy Research website, Business Week, Helping Nonprofits Raise Money Like Goldman Does, Aspen Institute news release, November 13, 2008, Duke University Board of Trustees, 2008–2009, Duke University, Office of News and Communications, November 7, 2008, Duke University, Office of News and Communications, January 16, 2008, Duke University, Office of News and Communications, January 30, 2006, In the United States District Court for the Middle District of North Carolina, No.1:08-cv-119, The After-School Corporation newsletter, Fall 2006, The After-School Corporation Board of Directors, Hospital for Special Surgery Press Release, https://health.usnews.com/best-hospitals/area/ny/hospital-for-special-surgery-6212900, New York Times, G.O.P. After his first year, Mr. Steel became partner and headed the European Equities Division. He first assumed the position in 2006, but took a leave of absence during his service as Under Secretary of the Treasury. Sign up for our email updates. Timascus Inlay - SOLD. The Sweetheart #42 $1,350.00. [5] In 2005 he helped settle a conflict between Barclays' commercial and investment divisions over who would serve a newly purchased South African bank. In May 2009 he shared a panel with Felix Rohatyn and Daniel Gross, Senior Editor of Newsweek, on "Bringing the Economy Back to Life." In his free time, Bob Steel enjoys golfing, skiing, hiking and spending time with his family, including his wife Gillian and their three daughters. Gillian Steel is the vice chair of the board of directors of City Squash, a program that aims to help “New York City youth to fulfill their academic, athletic and personal potential through the squash racket game. "[35] Upon confirmation as Under Secretary of the Treasury, Steel resigned as chairman and was succeeded by Robert D. In 2005, the National Humanities Center, a private institute dedicated to the study of humanities, elected Bob Steel to its board of trustees. Custom Order Deposit - (Books Closed) October / 31 / 2020. Mayer. Much of their philanthropic work is directed toward organizations in New York City and Connecticut. Other past grantees include the Boys and Girls Club of Greenwich, Teach for America and Right to Play, which aims to "improve the lives of children in the most disadvantaged areas of the world by using the power of sport and play for development, health and peace.". OVERVIEW: Robert and Gillian Steel move their philanthropy through the Robert K. Steel Family Foundation. On September 26, Wachovia lost almost one percent of its deposits, leading regulators to force Wachovia to put itself up for sale. In his free time, Bob Steel enjoys golfing, skiing, hiking and spending time with his family, including his wife Gillian and their three daughters. Steel was appointed Under Secretary for Domestic Finance at the United States Department of the Treasury on October 10, 2006 and served until July 9, 2008. Robert Steel with Eric Schatzker of Bloomberg News VMS News Steel oversaw a number of critical projects, most notably the Applied Sciences initiative that will result in four new engineering and applied sciences campuses throughout New York built by Cornell, the Technion-Israel Institute of Technology, NYU, Columbia and Carnegie Mellon. Upon leaving Goldman Sachs, Mr. Steel became further involved in the non-profit sector. In 1973, he graduated from Duke University with a B.A. in history and political science. [15] The arrangement made Wells Fargo the second-largest retail brokerage in the United States. OVERVIEW: Robert and Gillian Steel move their philanthropy through the Robert K. Steel Family Foundation. In so doing, SeaChange is employing many private sector strategies in raising capital for nonprofit organizations. In 1987, he transferred to London, where he founded the Equity Capital Markets Group for Europe. Wall Street Greens: The Top Givers to Environmental Causes from Finance. [28][29] Prior to becoming chair of the Board, Steel chaired the Duke University Management Company, the university's investment arm.[2].
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