Obama Picks Jacob Lew to Lead OMB

President Barack Obama has appointed Jacob Lew director of the Office of Management and Budget, replacing Peter Orszag.

Orszag has designs to join the Council on Foreign Relations.

The current deputy secretary of management and resources at the Department of State, Lew served as OMB director from 1998 to 2001.

“As the budget director who left the next administration a $237 billion surplus when he worked for President Clinton, I have no doubt that Jack has proven himself equal to this extraordinary task,” Obama said in advance of a televised appearance introducing Lew.

Lew’s extensive background in finance drew rave reviews from his new boss.

“If there was a Hall of Fame for budget directors, then Jack Lew would surely own a place,” Obama said. “He has proven himself already.”

Lew’s background includes time spent as a legislative aide and as principal domestic policy adviser to House Speaker Thomas P. O’Neill, Jr.

You may also be interested in...

John Coykendall Deloitte

Deloitte Selects John Coykendall to Lead Aerospace & Defense Sector; Paul Wellener Quoted

Deloitte has appointed John Coykendall, a principal at its consulting business, to lead the company’s U.S. aerospace and defense (A&D) sector within the U.S. industrial products and construction practice. Coykendall will also lead Deloitte's global aerospace and defense sector, succeeding Robin Lineberger, who will retire in May. 

Axonius

Axonius Secures $100M Private Funding for Portfolio Development, Market Expansion Efforts

Asset management platform maker Axonius has secured $100 million in private funding to support the company’s efforts to update its cybersecurity portfolio, Reuters reported Monday.

Lockheed GPS IIIF

Eric Brown: Lockheed Plans On-Orbit GPS Satellite Servicing Feature

Eric Brown, senior director of military space mission strategy at Lockheed Martin, said the company is updating its satellite bus for the U.S. Air Force's GPS III follow-on satellite platform to facilitate hardware updates in orbit, SpaceNews reported Friday.