Paul Volcker to Receive Museum's 2009 Whitehead Award

December 12, 2008

Press Contact: Kristin Aguilera, Communications Director, 212-908-4695

New York, NY – Paul A. Volcker has been selected to receive the Museum of American Finance’s 2009 John C. Whitehead Award for Distinguished Public Service and Financial Leadership. The award is presented annually to a person who has demonstrated a high order of achievement and leadership in the field of finance, and also served with notable distinction in the public sector. It is named after John C. Whitehead, former Deputy Secretary of State and co-chair of Goldman Sachs who has headed numerous public service organizations.

Mr. Volcker served in the federal government for almost 30 years during five presidential administrations and is currently chairman-designate of the newly-formed Economic Recovery Advisory Board under President-elect Barack Obama. Appointed as Chairman of the Board of Governors of the Federal Reserve System by President Jimmy Carter in 1979, he was re-appointed by President Ronald Reagan in 1983.

Recently Mr. Volcker has been called upon to lead an independent investigation into the Iraqi Oil for Food Program of the United Nations and a review of the World Bank’s anti-corruption efforts. He is Chairman of the Board of Trustees of the Group of 30 (G30), an international organization which examines the impact of economic and financial decisions by the public and private sectors. As Chairman of the first National Commission on the Public Service (the “Volcker Commission”) in 1988 and the second Volcker Commission in 2002, he established himself as one of the nation’s strongest advocates for the revitalization of the public service.

The Museum of American Finance will present this award to Mr. Volcker at its annual gala on Monday, January 12, 2009. For information on this event, please contact Director of Development Jeanne Baker Driscoll at 212-908-4694.

About the Museum of American Finance
The Museum of American Finance, an affiliate of the Smithsonian Institution, is the nation’s only public museum dedicated to finance, entrepreneurship and the free open market system. With its extensive collection of financial documents and objects, its seminars and educational programming, its publication and oral history program, the Museum portrays the breadth and richness of American financial history, achievement and practices. The Museum is located at 48 Wall Street, on the corner of William Street, and is open Monday – Friday, 10 am – 4 pm. For more information, visit


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