McPherson to BofA
Deputy Treasury Secretary Peter McPherson has resigned to join Bank of America, where he will be responsible for Third World debt negotiations.
At San Francisco-based Bank of America, which has one of the largest Third World loan portfolios, McPherson will have the task of responding to Treasury Secretary Nicholas Brady’s recent initiative to persuade banks to forgive part of their claims. He will be an executive vice president at the bank and serve on its senior management council and country review committee.
He was confirmed as the Treasury’s No. 2 official in August, 1987, after serving as the head of the U.S. Agency for International Development.
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