Washington D.C., – Tim Adams, President and CEO of the Institute of International Finance (IIF), has issued the following statement upon learning of the passing of Treasury Secretary Paul O’Neill:
"I am deeply saddened by the passing of Treasury Secretary Paul O’Neill. I had the honor of working closely with him for close to two years, including during the 9/11 terrorist attacks and challenging economic conditions, both of which tested our country not unlike today. Secretary O’Neill lived his life and served his country - and humanity - with dignity, brutal honesty, a pragmatic passion to solve problems, a drive for excellence and the highest level of integrity I’ve ever personally witnessed. We will keep his family in our thoughts and prayers."
The Institute of International Finance is the global association of the financial industry, with close to 450 members from more than 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.