Allen & Overy’s Heath Tarbert confirmed as Assistant Secretary of the Treasury
28 September 2017
Heath Tarbert, a U.S. partner at international legal practice Allen & Overy, was confirmed yesterday evening by the United States Senate by a margin of over 90% (87-8) as the next Assistant Secretary of the Treasury, International Markets and Development. He is expected to be officially sworn into office on or before Tuesday, October 10.
In this role, Mr. Tarbert’s responsibilities will include running the unit within the Treasury Department in charge of evaluating foreign investments in the U.S. for national security issues as part of the Committee on Foreign Investment in the United States (CFIUS); representing the U.S. at the Financial Stability Board and G20 working groups on regulatory policies and coordination; developing positions at the World Bank and other MDBs in development policy areas; developing policy in sovereign debt workouts; trade negotiations involving financial services; and providing technical assistance to over 40 countries with respect to debt, tax, budget, banking and anti-money laundering.
“We are proud that one of our partners has been asked to assume such an important international position at the Treasury Department,” said Barbara Stettner, Managing Partner of the Washington, D.C. office. “We encourage public service in our firm and have had numerous colleagues take on key positions in government over the years.”
“The overwhelmingly bipartisan vote in Heath’s favor today further demonstrates the growing reputation and commitment of Allen & Overy in the United States,” said Tim House, U.S. Senior Partner. “This is a firm that prides itself on having the highest caliber of lawyers in the country. We are sorry to see Heath leave but support him in answering this prestigious call to public service.”
Since joining Allen & Overy in 2014, Mr. Tarbert has been the head of its U.S. Bank Regulatory group and a leader in its Global Financial Services Regulatory practice.