Washington, D.C. – Forum President & COO Rob Nichols released the following statement on the nomination of Timothy Geithner for Treasury Secretary:

"Timothy Geithner is a superb choice to serve as Secretary of the Treasury. He is held in high regard in financial circles and has been a thoughtful and effective leader throughout the recent financial turmoil. Tim has devoted much of his career to public service and has earned the respect of Wall Street and Washington.

"America is facing great challenges and opportunities as we navigate a financial crisis and look to modernize our financial supervisory structure. As President of the Federal Reserve Bank of New York, Tim has been working for many months with Treasury and the Federal Reserve on these issues and has helped to generate innovative solutions. He will bring a great deal of understanding and technical knowledge of the current crisis to the office, and his previous service with the Treasury Department will be a great asset.

"His experience and demonstrated leadership during the financial turmoil, will undoubtedly be a great benefit to our country during this difficult time. The Financial Services Forum looks forward to working with Tim and his department, and serving as a resource to policymakers. We urge swift Senate confirmation of Timothy Geithner as the next U.S. Treasury Secretary.

"The Forum commends President-elect Obama for his swift and decisive actions to assemble and announce his economic team and economic plans earlier than the historic norm. This sends a strong message of confidence to the markets and the American people in light of the significant economic headwinds and market turmoil."

The Financial Services Forum is a non-partisan financial and economic policy organization comprised of the chief executive officers of 19 of the largest and most diversified financial institutions with business operations in the United States. The Forum works to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st century global economy.