Deputy Treasury Secretary Neal S. Wolin resigning

Tuesday, 23 Jul 2013 | 8:58 AM ET
Deputy U.S. Secretary of the Treasury Neal Wolin.
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Deputy U.S. Secretary of the Treasury Neal Wolin.

Deputy Treasury Secretary Neal Wolin, who helped spearhead financial reform and Wall Street oversight in the wake of the 2008 financial crisis, will leave his post at the end of next month, the White House announced on Tuesday.

A former executive with Hartford Financial Services, Wolin was Treasury's longest-serving deputy. He also is credited with hand-selecting Kenneth Feinberg, who served as the Wall Street "pay czar" after the rescue of major financial banks.

(Read more: Lew to Europe: Focus on growth and jobs)

US Perspective on Draghi Comments: Wolin
"The words are important but they need to be accompanied by follow on actions," says Neal Wolin, U.S. Deputy Treasury Secretary, discussing comments made by the ECB's Mario Draghi to preserve the euro.

"For more than four years,Neal has played a key role on my economic team. 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," President Barack Obama said in a statement.

"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."

(Read more: Lew: Dodd-Frank helped save the banking system)

Published reports say Wolin is weighing a position with a think tank.

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