Newsmaker

US mulls White House aide Lipton for IMF No 2 job

(Agencies)
Updated: 2011-05-18 10:48

WASHINGTON - The United States is considering proposing White House adviser David Lipton to take over from John Lipsky as No. 2 at the International Monetary Fund, sources familiar with the situation said on Tuesday.

Related readings:  Brazil wants IMF chief from emerging nation-source  IMF chief taken to notorious NY jail

Lipsky stepped in as acting IMF managing director this week after the shock arrest on Saturday of Dominique Strauss-Kahn on charges of sexual assault and attempted rape. Last week, Lipsky announced he would step down in August when his term as IMF first deputy managing director at the global lender ends.

A US Treasury spokesperson declined to comment when asked whether Lipton, a former top Treasury official during the Clinton administration, was being considered for the IMF job.

The United States traditionally picks the No. 2 at the IMF, while the head of the institution is always a European.

Lipton, senior director for International Economic Affairs at the National Economic Council and National Security Council at the White House, rose to the position as under secretary for international affairs at the Treasury during the Clinton administration, when he played a key role in the response to the Asian financial crisis.

He also served as an economic adviser to the governments of Russia, Poland and Slovenia. Before taking on his current job as special assistant to the president, he was a managing director at Citigroup and spent five years at global hedge fund Moore Capital Management.