Secretary of the Treasury Robert Rubin to Deliver Commencement Address at the University of Pennsylvania

PHILADELPHIA --- Secretary of the Treasury Robert E. Rubin will deliver the commencement address at the 243rd Commencement of the University of Pennsylvania on Monday, May 17, 1999, according to University President Judith Rodin.

The Commencement will begin at 9:30 a.m. at Franklin Field.

Secretary Rubin was sworn in as the 70th Secretary of the Treasury on Jan. 10, 1995. Prior to his appointment at the Treasury Department, he had been Assistant to the President for Economic Policy at the White House, directing the activities of the National Economic Council, with oversight responsibility for the Administration's domestic and international economic policymaking process as well as coordinating economic policy recommendations to Mr. Clinton, ensuring that economic policy decisions and programs were consistent with the President's goals and monitoring the implementation of those goals.

He has been described by Mr. Clinton as "the consummate honest broker, who brings economic wisdom, common sense and common decency to every one of our economic challenges."

Dr. Rodin said that Secretary Rubin also will receive an honorary Doctor of Laws degree at the Commencement ceremonies.

"Secretary Rubin has been one of the most active and productive Treasury Secretaries in our country's history," Dr. Rodin said, adding that "he has redefined the role of the [Secretary of the Treasury] post, effectively blending economics and diplomacy to effect change in world markets.

"We are honored," she said, "that Secretary Rubin has agreed to speak to our graduates and their guests and will accept our recognition of his many and varied contributions to economic growth in this country and throughout the world."

A native of New York City, Secretary Rubin, 60, received a bachelor's degree summa cum laude from Harvard College in 1960. He received an LL.B. from Yale Law School in 1964, and he attended the London School of Economics.

Secretary Rubin began his career with Cleary, Gottlieb, Steen & Hamilton, New York City prior to joining Goldman, Sachs & Co., New York City, where he worked for 26 years before joining the Clinton Administration. Mr. Rubin was Vice Chairman and Co-Chief Operating Officer at Goldman, from 1987 to 1990, and he was Co-Senior Partner and Co-Chairman at Goldman, from 1990 to 1992.

He has worked in virtually every financial market, from bonds to commodities.

Secretary Rubin has served on the board of directors of the New York Stock Exchange, the Harvard Management Company, the New York Futures Exchange, the New York City Partnership and the Center for National Policy.

He also has served on the board of trustees of the Carnegie Corporation of New York, Mt. Sinai Hospital and Medical School, the President's Advisory Committee for Trade Negotiations, the Market Oversight and Financial Services Advisory Committee of the Securities and Exchange Commission, the Council of Economic Advisors of the Mayor of New York and the Governor's Council on Fiscal and Economic Priorities for the State of New York.