Senate Confirms New Leaders of International Development Finance Corp. and Export-Import Bank | Holland & Knight LLP
The US Senate has confirmed Scott Nathan and Reta Jo Lewis to senior positions with the US International Development Finance Corporation (DFC) and the Export-Import Bank of the United States (EXIM), respectively. Nathan will serve as CEO of DFC and Lewis will serve as Chairman and President of EXIM. Both were confirmed on February 9, 2022.
These confirmations provide political leadership to the most senior positions in both DFC and EXIM and should result in faster decision-making and greater certainty regarding agency priorities and plans.
DFC and EXIM are an integral part of the Biden administration’s strategy for supply chain resilience and the International Climate Finance Plan.
Scott Nathan most recently served as a senior adviser in the Office of Presidential Personnel at the White House after working on the Biden-Harris Presidential Transition Nominating Team. During the Obama-Biden administration, Nathan served as Special Representative for Trade and Commerce at the U.S. State Department, where he led a team focused on protecting U.S. economic interests abroad and defending U.S. exports. . Later, he served as Associate Director of General Government Programs in the Office of Management and Budget. He also worked as a partner, board member and chief risk officer of a Boston-based private equity partnership. Nathan holds a BA, JD and MBA from Harvard.
As CEO of DFC, Nathan will be responsible for ensuring that the Biden administration’s international development funding priorities are reflected in DFC-supported transactions. In his testimony before the Senate Foreign Relations Committee, he summarized his views on the DFC as follows:
DFC mobilizes capital for private sector-led growth in the developing world and offers a clear alternative to state-led investments by authoritarian governments. DFC’s product offering provides developing countries with a positive choice, reflecting our democratic values, to meet their infrastructure and economic needs. While investing in private sector companies and projects, DFC can insist on transparency, rule of law, financial viability, and high environmental and labor standards. Unlike some of our strategic competitors, we do this with no strings attached.
Nathan replaces Dev Jagadesan, Deputy General Counsel of DFC, who served as interim CEO.
Reta Jo Lewis most recently served as Senior Research Fellow and Director of Congressional Affairs at the German Marshall Fund of the United States, where she led bipartisan initiatives, programs and exchanges for members of the United States Congress and their European counterparts. . Lewis previously held senior government positions, including as Special Representative for Global Intergovernmental Affairs under Secretary Hillary Clinton at the US State Department during the Obama-Biden administration, and as Assistant special for the political affairs of President Bill Clinton. In the private sector, Lewis practiced law at a major international firm and also served as Vice President and Advisor to the President of the United States Chamber of Commerce. She holds a JD from Emory University School of Law, an MSAJ from American University, and a BA from the University of Georgia.
As President and Chairman of EXIM, Lewis will be responsible for ensuring that the Biden Administration’s priorities for supporting U.S. exporters are reflected in EXIM’s programs and transactions, including the recently announced National Financing Program. offers.
In his testimony before the Senate Banking Committee, Lewis provided the following comments on his priorities for EXIM:
US exporters are competing to win the 21st century, and EXIM must stand with them. As we strive to recover from the COVID-19 pandemic, EXIM must seize this opportunity to live up to its mission. EXIM is to partner with sister agencies such as the International Development Finance Corporation (DFC), US Trade and Development Agency (USTDA), US Small Business Administration (SBA) and Millennium Challenge Corporation (MCC) to improve the global competitiveness of American companies. and workers. EXIM must also renew its focus on supporting small businesses to help our country’s economy rebuild better.
Lewis replaces Jim Burrows, EXIM’s senior vice president for the Office of Small Business, who served as president and acting president.