Michael Barr, a Treasury official under former President Bill Clinton, was selected to serve as assistant secretary for financial institutions, and George Madison, a financial industry attorney, was chosen to be general counsel.
Helen Elizabeth Garrett, a vice president for academic planning and budget of the University of Southern California, was nominated to be assistant secretary for tax policy. All three nominations must be confirmed by the Senate.
"The Treasury Department will be well-served by the expertise and commitment of these fine individuals," Obama said in a statement. "Under the leadership of Secretary (Timothy) Geithner, I have great confidence that they will be valuable and effective additions to our team as we tackle our nation's economic challenges."
0:00/1:58Geithner: Doing all we canSince his Jan. 20 inauguration, Obama has filled only a handful of top Treasury posts as his administration seeks to restore confidence in financial markets and forge a new system of regulatory oversight.
Early this month, former Securities and Exchange Commissioner Annette Nazareth withdrew from consideration to become a deputy secretary. Geithner's choice for international affairs undersecretary, Caroline Atkinson, also pulled her name from consideration.
If Barr is confirmed, he will play a significant role in confronting the economic downturn as his post is chiefly responsible for helping to maintain healthy markets.
A former Rhodes Scholar, Barr graduated from Yale University and Yale Law School before spending more than six years in the Clinton administration.
Madison is general counsel of TIAA-CREF, a nonprofit financial services company and was formerly general counsel and corporate secretary at Comerica Inc. (CMA)
Garrett served on former President George W. Bush's nine-member bipartisan Advisory Panel on Federal Tax Reform, which issued its report in November 2005.
Three nominated for Treasury posts
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