Geoffrey Okamoto

Geoffrey William Seiji Okamoto is an American economist and government official who formerly served as the Acting Assistant Secretary for International Finance and Development in the United States Department of the Treasury. He was nominated for this position on January 1, 2019, by the White House and was never confirmed by the United States Congress.[1] He previously served as Acting Assistant Secretary for International Markets and Investment, for which he was also not confirmed.

Geoffrey Okamoto
First Deputy Managing Director of the International Monetary Fund
Assumed office
March 19, 2020
Preceded byDavid Lipton
Assistant Secretary of the Treasury for International Finance and Development
Acting
In office
July 2018 – March 19, 2020
PresidentDonald Trump
Preceded byRamin Toloui
Succeeded byVacant
Personal details
Born
Geoffrey William Seiji Okamoto

(1985-01-18) January 18, 1985
Torrance, California, U.S.
Political partyRepublican
EducationCalifornia State Polytechnic University, Pomona (BS)
Georgetown University (MPP)

Early life and education

Okamoto was born in Torrance, California, and raised in Irvine, California, where he attended Woodbridge High School. While in high school, he earned the rank of Eagle Scout.

He attended the California State Polytechnic University, Pomona and earned a Bachelor of Science in Computer Information Systems in 2008.[2] He later attended Georgetown University graduating from the McCourt School of Public Policy in 2011 receiving a Master of Public Policy.[3] Okamoto completed his graduate research on the effect bank reserve requirements have historically had on the pricing and availability of bank loans.[4] While in graduate school, he studied at Corpus Christi College, University of Oxford.[5]

In 2019, Georgetown University awarded Okamoto the 1820 Graduate Award for "outstanding leadership and service to the university."[6]

Career

Consultant

Okamoto began his career as a consultant for KPMG, LLP in 2008. He worked with clients in the financial services, asset management, technology, and healthcare sectors on matters related to regulatory compliance, risk management, and operational efficiency.[7]

Congressional aide

While completing graduate studies at Georgetown University, Okamoto was hired by John Campbell in 2011 to serve as his advisor on financial services and other economic-related matters.[8] In 2013, he was appointed Policy Director for Monetary Policy and Trade for the House Financial Services Committee.[9]

While Policy Director, he worked to force conditions on additional funds the Obama Administration sought for the International Monetary Fund.[10] This included a restoration of key rules governing very large loans which had been removed to allow IMF lending to Greece.[11] Ultimately, the IMF amended its rules and Congress allowed the funding provision to pass.[12]

In 2014, he was hired by Pat Toomey to serve as his chief advisor for the Senate Banking Committee. When Republicans regained the majority in the Senate in 2016, Okamoto became the Majority Staff Director for the Senate Banking Subcommittee on Financial Institutions.[13]

U.S. Department of the Treasury

In November 2016, Okamoto was recruited onto the transition team for Donald Trump working on the Treasury Department's landing team, focussing on international economics and domestic finance. In 2017, the President appointed him Deputy Assistant Secretary of the Treasury within International Affairs, with responsibilities over international financial institutions and sovereign debt matters.[14] He launched the Women Entrepreneurs Finance Initiative, a key priority of First Daughter and Advisor to the President, Ivanka Trump, and currently serves as Chairman of its Governing Committee.[15]

Upon the Administration withdrawing its initial nominee for Assistant Secretary, Okamoto was elevated to serve, on an acting basis, as Assistant Secretary for International Finance and Development. Okamoto currently oversees several divisions with responsibilities for regional and bilateral economic engagement, international economic coordination through the G7 and G20, international monetary affairs, and executing U.S. participation in international financial institutions. He was never confirmed by the United States Congress.[16]

Okamoto represented the United States on the board of the World Bank's Global Environment Facility.[17] He has been active in assisting governments with economic reform, including Argentina, Haiti, Jordan, Latvia,[18] Somalia,[19] and Ukraine.[20]

Okamoto also held concurrent appointments by President Trump to be Acting Governor of the European Bank for Reconstruction and Development, the African Development Bank, and the African Development Fund.[21]

  • Okamoto (center), in his capacity as acting Assistant Secretary for International Finance and Development, at a board meeting of the Millennium Challenge Corporation in 2019

Blog

In 2019 it was reported that Okamoto had run the blog TheOka(DOT)Net in 2004 and 2005. The blog highlights a number of fringe opinions including advocacy for torture in the War on terror and bombing Al-Jazeera transmitters.[22]

References
  1. https://www.congress.gov/nomination/116th-congress/23
  2. "Interning At The Top | PolyCentric". polycentric.cpp.edu. Retrieved 2018-07-30.
  3. "Alumni Board". mccourt.georgetown.edu. Retrieved 2018-07-30.
  4. S., Okamoto, Geoffrey W. (2011). "The effect of bank reserve requirements on lending volume and interest rates faced by borrowers". Cite journal requires |journal= (help)
  5. "McCourt School Policy Perspectives Fall 2017 Page 27". issues.washingtoniancustommedia.com. Retrieved 2020-02-07.
  6. [email protected] (2015-08-05). "Service Recognition Award Recipients". Georgetown Alumni. Retrieved 2020-02-07.
  7. "McCourt School Policy Perspectives Fall 2017". Retrieved 2018-07-30.
  8. "Cong. Dir. 112th - Congressional Directory for the 112th Congress (2011-2012), December 2011". www.gpo.gov. Retrieved 2018-07-30.
  9. "Cong. Dir. 113th - Congressional Directory for the 113th Congress (2013-2014), February 2014". www.gpo.gov. Retrieved 2018-07-30.
  10. "Obama tries again to get approval of IMF reform". The Washington Post. Retrieved 2018-07-30.
  11. "On Colombia, the IMF, robots, the media, Africa, jobs, streaming, Northern Ireland". The Economist. Retrieved 2018-07-30.
  12. "IMF Survey : IMF Reforms Policy for Exceptional Access Lending". IMF. Retrieved 2018-07-30.
  13. "Quarles geography issue fixed?". POLITICO. Retrieved 2018-07-30.
  14. "5 key developments out of White House -- raft of new agency personnel -- Senate to vote on FDA head next week". POLITICO. Retrieved 2018-07-30.
  15. Talley, Josh Zumbrun and Ian (2017-10-12). "World Bank Launches Women's Fund Championed by Ivanka Trump". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-07-30.
  16. https://www.congress.gov/nomination/116th-congress/23
  17. "GEF Council Meeting Summary of the Chairs" (PDF).
  18. курс, The Baltic Course-Балтийский. "Latvian financial sector still facing major changes - Reirs". The Baltic Course | Baltic States news & analytics. Retrieved 2020-02-07.
  19. "Somalia PM holds talks with top US officials in Washington". Garowe Online. Retrieved 2020-02-07.
  20. "NBU independence important for Ukraine's financial stability, investment attractiveness". Interfax-Ukraine. Retrieved 2020-02-07.
  21. "President Donald J. Trump Announces Key Additions to his Administration". The White House. Retrieved 2018-07-30.
  22. Seidman, Jesse. "Blog That Ran Under Trump Treasury Nominee's Name Advocated Torture and Suggested Bombing Al Jazeera". news.vice.com. Vice News. Retrieved 5 February 2019.

External references
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