Senate Confirms Investment Banking Executive to Head International Trade Administration
The Senate June 4 confirmed Stefan M. Selig as under secretary of commerce for international trade. Selig will lead the International Trade Administration, which has responsibilities ranging from promoting foreign direct investment to imposing antidumping and countervailing duties. Commerce Secretary Penny Pritzker said Selig will help to lead the recently launched NEI/NEXT initiative to further boost U.S. exports and to expand the SelectUSA program to attract more investment in the U.S.
Selig has spent more than 20 years in senior positions in the investment banking industry and most recently served as executive vice chairman of global corporate and investment banking at Bank of America Merrill Lynch.