Antonio Weiss, global head of investment banking at Lazard, will be nominated by President Barack Obama as the U.S. Treasury Department’s top domestic finance official, the White House said in a statement.
Bloomberg News reports that Lazard, a merger-advisory firm, has been involved in several tax-inversion deals. The Obama administration has been trying to curtail the practice, in which companies reduce taxes by moving their addresses overseas.
As undersecretary for domestic finance, Weiss, 48, would coordinate policies on banking, debt financing, capital markets and regulation. The undersecretary, who is subject to confirmation by the U.S. Senate, also works on implementation of the Dodd-Frank financial law.
Weiss has been a top Wall Street donor to Obama. He joined Lazard in 1993 and has also served as global head of mergers and acquisitions for the firm and a vice chairman of European investment banking.
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