The U.S. Department of Treasury announced that Deputy Secretary Neal Wolin will conclude his tenure at the end of August.
Earlier this year, the Treasury announced that Wolin agreed to stay for a perod of transition once Secretary Jack Lew was confirmed.
"For more than four years, Neal has played a key role on my economic team," President Barack Obama said.
He added, "His deep knowledge and excellent judgment helped us prevent a second Great Depression, pass tough new Wall Street reform, strengthen our financial system, foster growth here at home, and promote economic development around the world. Every day, Neal works to grow our economy and strengthen the middle class, and I’m grateful for his leadership and his commitment to serving the American people."
Wolin served as Acting Treasury Secretary earlier this year and was confirmed as deputy in May 2009 — the longest-serving deputy secretary in the Treasury's history.
Prior to that, Wolin was deputy assistant to the president. Additionally, he previously served as executive assistant to the National Security Advisor and Deputy National Security Advisor.
"I want to thank Neal for his extraordinary service to the Treasury Department and our country," Lew stated.
He concluded, "He has been a remarkable leader who has taken on some of the most difficult economic and foreign policy challenges we have faced as a nation. Neal’s wise counsel has been indispensable to me, and because of his tremendous insight and analysis, we are in a far stronger position today to continue the critical work ahead."
