Wally Adeyemo Explained

Office:15th United States Deputy Secretary of the Treasury
President:Joe Biden
1Blankname:Secretary
1Namedata:Janet Yellen
Term Start:March 26, 2021
Predecessor:Justin Muzinich
Office1:President of the Obama Foundation
Term Start1:August 1, 2019
Term End1:March 25, 2021
Predecessor1:Position established
Successor1:Valerie Jarrett
Office2:United States Deputy National Security Advisor for International Economics
President2:Barack Obama
Term Start2:2015
Term End2:2016
Predecessor2:Caroline Atkinson
Successor2:Daleep Singh (2021)
Birth Name:Adewale Adeyemo
Birth Date:20 May 1981
Birth Place:Ibadan, Nigeria
Party:Democratic
Education:

Adewale O. "Wally" Adeyemo (born May 20, 1981) is an American government official serving as the United States deputy secretary of the treasury.[1] He was the first president of the Obama Foundation and also served during the Obama administration as the deputy national security advisor for international economics from 2015 to 2016 and deputy director of the National Economic Council.[2] [3]

Early life and education

Adeyemo was born to Yoruba parents in Ibadan, Nigeria, and raised in Southern California.[3] [4] [5] His father was a teacher and his mother was a nurse. He has two younger siblings.[6] After graduating from Eisenhower High School in Rialto, California in 1999,[7] he received a bachelor of arts degree from the University of California, Berkeley in 2004 and a juris doctor degree from Yale Law School in 2009.[3] [8]

Early career

Adeyemo served as the director of African American outreach for the John Kerry 2004 presidential campaign in California and was based in the San Francisco office.[9]

Prior to joining the Obama administration, Adeyemo worked as an editor at the Hamilton Project. Adeyemo then served as senior advisor and deputy chief of staff to Jack Lew in the United States Department of the Treasury.[10] Adeyemo later worked as a negotiator on the Trans-Pacific Partnership. He also served as the first chief of staff of the Consumer Financial Protection Bureau under Elizabeth Warren.

Later career

Obama administration (2014-2016)

In November 2014, Adeyemo was nominated to be Assistant Secretary of the Treasury for International Markets[11] at the same time that the incumbent assistant Secretary, Marisa Lago, was nominated to be a Deputy United States Trade representative.[12] He appeared before the Senate Committee on Banking, Housing, and Urban Affairs in September 2015,[13] but the committee did not advance his nomination to the full Senate. The nomination was withdrawn by President Obama in December 2015.[14]

Adeyemo was instead selected to concurrently serve as Deputy National Security Advisor for International Economics and deputy director of the National Economic Council in 2015, serving until 2016. During his tenure, he was the president's representative to the G7 and G20 and held several senior management positions at the Department of the Treasury, including senior adviser and deputy chief of staff, and chief negotiator for the Trans-Pacific Partnership’s provisions on macroeconomic policy.

Out of government

Adeyemo worked at BlackRock for two years from 2017, serving as a senior advisor, having previously been interim chief of staff for the firm's CEO, Laurence D. Fink.[15] [16]

On August 1, 2019, Adeyemo was selected as the first president of the Obama Foundation.[17]

Biden administration

Nomination to Treasury

In November 2020, it was announced that Adeyemo would be nominated to serve as United States Deputy Secretary of the Treasury in the Biden administration.[18] [19] On January 20, 2021, his nomination was submitted to the Senate for confirmation.[20] A hearing before the Senate Committee on Finance was held on February 23, 2021; his nomination was reported out of committee by voice vote on March 3.[21] [22] On March 25, 2021, he was confirmed by the Senate, also by voice vote.

Tenure

On March 26, 2021, he was sworn into office by Secretary Janet Yellen.[23] Deputy Secretary Adeyemo has been heavily involved in sanctions enforcement in 2022, visiting[24] and speaking with[25] foreign regulators to encourage their cooperation.

On 2 June 2024 Adeyemo wrote an article for the Financial Times headlined "We need to put sand in the gears of the Russian war machine", in the context of the 2022 Russian invasion of Ukraine.[26]

External links

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Notes and References

  1. Web site: Obama Foundation Announces Wally Adeyemo as President. 2020-12-02. Obama Foundation. en.
  2. Web site: August 11, 2019 . Adewale Adeyemo: President of Obama Foundation . November 29, 2020 . Leadership.
  3. Book: Hearing before the Committee on Banking, Housing, and Urban Affairs . U.S. Senate . 19 . January 23, 2021.
  4. Web site: Commencement speaker Wally Adeyemo followed a remarkable road to leadership . April 15, 2021.
  5. Web site: . December 16, 2015. Obama Appoints 34 Years Old Adewale Adeyemo As Deputy National Security Advisor. June 6, 2020. Nairametrics. en-GB.
  6. News: Biden Pick for Treasury's No. 2, a Moderate Voice, Breaks Racial Barrier. Alan. Rappeport. The New York Times. December 1, 2020. December 23, 2020.
  7. Web site: Notable Eagles . Eisenhower High School . 1 December 2020.
  8. Web site: Rachlin. Jill. Wally Adeyemo. June 6, 2020. Reiss Center on Law and Security. en-US.
  9. Web site: John Kerry-California Campaign Organization. June 6, 2020. p2004.org.
  10. Web site: Ayemoba . Andrea . 2015-12-17 . Obama appoints 34-yr-old Nigerian, Adewale Adeyemo as deputy NSA . 2020-06-06 . Africa Business Communities . en.
  11. Web site: PN2119 — Adewale Adeyemo — Department of the Treasury . U.S. Congress . December 17, 2014 . January 23, 2021.
  12. Web site: PN2121 — Marisa Lago — Executive Office of the President . U.S. Congress . December 17, 2014 . January 26, 2021.
  13. Web site: Statement By Adewale O. Adeyemo, Nominee For Assistant Secretary For International Markets And Development, Before The Senate Committee On Banking, Housing, And Urban Affairs . . January 23, 2021.
  14. Web site: PN86 — Adewale Adeyemo — Department of the Treasury . U.S. Congress . December 18, 2015 . January 23, 2021.
  15. News: Two Biden aides will recuse on BlackRock issues as past ties pose questions . 2021-01-02 . Yeganeh Torbati . . Washington, D.C. . 0190-8286 . 1330888409.
  16. Web site: ABANA | Event Speakers | Wally Adeyemo.
  17. Web site: Obama Foundation Announces Wally Adeyemo as President. June 6, 2020. . en.
  18. Web site: Biden unveils diverse economic team as challenges to economy grow. November 30, 2020. POLITICO. November 29, 2020 . en.
  19. News: Davidson. Ken Thomas and Kate. November 29, 2020. WSJ News Exclusive Biden to Name Rouse, Tanden to Economic Team. en-US. Wall Street Journal. November 30, 2020. 0099-9660.
  20. Web site: PN79-1 — Adewale O. Adeyemo — Department of the Treasury . February 22, 2021 . U.S. Congress.
  21. Web site: Hearing to Consider the Nomination of Adewale O. Adeyemo, of California, to be Deputy Secretary of the Treasury . U.S. Senate . February 22, 2021.
  22. Web site: March 3, 2021 . Trade, Treasury nominees advanced by Senate Finance . March 5, 2021 . Roll Call.
  23. Web site: March 26, 2021 . Swearing In of Deputy Secretary Wally Adeyemo . March 27, 2021 . home.treasury.gov.
  24. Web site: READOUT: Deputy Secretary of the Treasury Wally Adeyemo's Visit to Turkey . . 2022-06-25 . 2022-10-11.
  25. Web site: READOUT: Deputy Secretary of the Treasury Wally Adeyemo's Meeting with Deputy Finance Minister of Türkiye Yunus Elitas . . 2022-08-20 . 2022-10-11.
  26. News: We need to put sand in the gears of the Russian war machine .