Bush picks Utahn for Treasury

WASHINGTON — President Bush announced Tuesday that he intends to nominate a Utah man for a top position in his administration.

Randal Quarles, a native of Roy, is to be nominated as an undersecretary of the Treasury in the division of domestic finance, according to a White House press release.

This isn't the first time Quarles has received a presidential appointment. He currently serves as assistant secretary of the Treasury for international affairs, where he helps oversee international financial matters handled by the federal government. Previous posts held by Quarles include executive director of the U.S. International Monetary Fund and deputy assistant secretary of the Treasury for financial institutions policy.

Quarles is a 1975 graduate of Roy High School. He earned his bachelor's degree in philosophy and economics from Columbia University in 1981, and a law degree from Yale in 1984. He served a mission for The Church of Jesus Christ of Latter-day Saints to Quebec, Canada, and was a partner at the international law firm of Davis, Polk and Wardwell in New York City. He is married to Hope Eccles, the daughter of Spencer Eccles, a well-known Utah banker and philanthropist. They currently live in Washington, D.C.

He will continue working in his current international affairs position while the new nomination process proceeds through standard Senate confirmation hearings.