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Biden Announces Appointment Of Nigerian-Born Adeyemo As US Deputy Treasury Secretary

United States President-elect Joe Biden, on Monday, officially unveiled his economic team.

The Wall Street Journal had earlier reported the expected picks but Biden’s presidential transition confirmed them in a statement Monday evening.

According to the statement, Neera Tanden was tapped to lead the Office of Management and Budget and Cecilia Rouse to chair the Council of Economic Advisers.

Biden also said he would nominate Nigerian-born Adewale “Wally” Adeyemo to serve as deputy Treasury Secretary alongside Janet Yellen, who he officially said he would nominate as his Treasury Secretary.

“As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever,” Biden said in the statement.

“This team is comprised of respected and tested groundbreaking public servants who will help the communities hardest hit by COVID-19 and address the structural inequities in our economy.”

The American president-elect also announced that he had tapped Jared Bernstein and Heather Boushey to be members of the White House Council of Economic Advisers.

Biden is expected to introduce members of his economic team on Tuesday in Wilmington, Delaware.

Adeyemo worked during the Obama administration as the Treasury Department’s lead negotiator on the currency agreement that was part of the Trans-Pacific Partnership trade deal, and on the response to sovereign-debt crises in Ukraine and Greece.

In 2010, the Nigerian-born attorney was one of the first officials charged with setting up the Consumer Financial Protection Bureau, where he served under Senator Elizabeth Warren, a connection likely to help him win over party progressives, WSJ reports.

Obama later tapped him to serve as his deputy National Security Adviser for international economic affairs.

“He knows the building inside and out, knows all the different policy areas Treasury does, which are wide and extensive,” said Ernie Tedeschi, a former Obama administration Treasury Department economist and policy analyst at Evercore ISI.

“Between economics and finance and markets, Wally is familiar with them all.”

Adeyemo was born in Nigeria in 1981 and raised in Los Angeles County, California by his Nigerian immigrant parents.

He earned a Bachelor of Arts from the University of California, Berkeley and Juris Doctor from Yale Law School.

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