By PAUL O’DONOGHUE, Senior Correspondent
THE U.S. Senate Banking Committee has advanced Citigroup executive Jonathan Burke to the role of assistant secretary of the Treasury Department’s Office of Terrorism and Financial Intelligence.
Members approved of Mr Burke by a vote of 15 – 9. His nomination will now move to a full Senate vote. He must also receive approval there before the Senate confirms him in the role.
In his opening statement to the Senate Banking Committee, Mr Burke said the Treasury must adapt to new illicit finance threats.
“[The Treasury] must promote a risk-based regulatory regime that is aligned with 21st century risks,” he said.
“Sanctions and other financial measures should have a clear objective.”
He added that the Treasury should “encourage and incentivize the private sector’s innovative capabilities”. He said should be done “through constructive engagement, without fear of technical non-compliance”.
In June, U.S. President Donald Trump nominated Mr Burke for the position.
If the Senate confirms him, the move would mark his return to the Department of the Treasury after years working in the private sector.
Mr Burke has worked as the Global Head of Banking Sanctions Compliance at Citigroup since 2023. He was also a senior manager at Ernst & Young as a senior manager in financial services risk management.
He also worked as a senior policy adviser for global affairs in the Treasury Department’s Office of Terrorism and Financial Intelligence from 2008 to 2012.
Mr Burke’s nomination came just before John Hurley was confirmed as the new U.S. Under Secretary for Terrorism and Financial Intelligence – essentially, the Treasury’s chief for fincrime and CFT.
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