Jackson Library

PMI Speaker: Herbert M. Allison Jr.: Additional Reading

Tuesday, November 10, 2009
Bishop Auditorium, 5pm
Public Management Initiative

Herbert M. Allison Jr.
Assistant Secretary for Financial Stability and Counselor to the Secretary of the Treasury

Stanford MBA 1971

Mr. Allison will be speaking at the GSB on the government’s role in regulating the capital markets, the state of the economy, his view on public/private partnerships and his leadership experience in both the public and private sectors.

Background

Herbert M. Allison, Jr. was confirmed by the United States Senate on June 19, 2009 to serve as the Department of the Treasury's Assistant Secretary for Financial Stability. As Assistant Secretary for Financial Stability, Allison is responsible for developing and coordinating Treasury's policies on legislative and regulatory issues affecting financial stability, including overseeing the Troubled Assets Relief Program (TARP). Allison is also Counselor to the Secretary.

Most recently, Allison served as President and Chief Executive Officer of Fannie Mae. Prior to being appointed to Fannie Mae, he was Chairman, President and Chief Executive Officer of TIAA-CREF. Allison began his career at Merrill Lynch, where he served many roles and was ultimately elected President, Chief Operating Officer and a member of the Board.

He was a director of Time Warner and a member of the Advisory Board of the Yale School of Management, the Advisory Council of the Stanford Graduate School of Business, and the Federal Reserve Bank of New York's International Advisory Committee. Allison was a director of the New York Stock Exchange from 2003-2005.

Allison earned a B.A. in Philosophy from Yale University and an M.B.A from Stanford University. He spent four years as an officer in the U.S. Navy, including a year in Vietnam. He is married and has two sons.

Selected Articles

Due to contractual arrangements, remote access is only available to the current Stanford community and the subscribers of the "Library Databases" offered through the GSB Alumni's Lifelong Learning Program. Other access is limited to onsite at Jackson Library. Inclusion below does not imply University endorsement of ideas expressed.

OPEN FORUM: TARP's Scorecard So Far. National Mortgage News, 7/13/09
Mr. Allison's remarks before the Tarp Congressional Oversight Panel are presented as our Open Forum.
View article

Bank Vet Pegged to Run Bailout. WSJ, 4/14/09
In choosing Mr. Allison to head the Troubled Asset Relief Program, the administration is turning to an experienced manager at a time when it is having trouble filling key finance posts. Mr. Allison, 65 years old, is the former chairman of investment company TIAA-CREF and was a Merrill Lynch & Co. executive for years. In September, he agreed to run Fannie Mae after the U.S. took over the mortgage giant and its sister firm, Freddie Mac.
View article

Outsiders' Insight May Be Right Thing For GSEs. Forbes, 9/9/08
Herb Allison and David Moffett have no experience with the mortgage industry. That could be an advantage as they take the helm at Fannie Mae and Freddie Mac.
View article

Herbert Allison Jr.: A Leader from War Room to Board Room. Stanford GSB News, 4/2005
Herb Allison learned very fast that leading people, particularly in stressful situations, is one of the hardest things you can ever do. Yet in the years since then, Allison has had the opportunity to become very good at his craft.
View article

A Plea to Invest in What's Good. New York Times, 12/16/03
At the annual meeting in 2003 of the largest investment organization catering to university and college faculties and staff TIAA-CREF, investors raised questions about the chief executive's pay and urged greater emphasis on selecting stocks according to the social and moral character of corporations.
View article

Selected Video

COP Hearing with Assistant Treasury Secretary Herb Allison

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