News

Washington, D.C.: Vice President Al Gore presided at a formal swearing in ceremony today for James A. Harmon as President and Chairman of the Export-Import Bank of the United States (Ex-Im Bank) and Jackie M. Clegg as First Vice President and Vice Chair.

Harmon and Clegg were nominated for the top two leadership positions at Ex-Im Bank on May 6, 1997 by President Clinton. They were confirmed by the U.S. Senate on June 12, 1997.

The Export-Import Bank plays a vital role in sustaining jobs and assisting U.S. businesses to compete in the global marketplace. Jim Harmon and Jackie Clegg have the knowledge, skills and ability to lead this vital agency into the next century, Vice President Gore said.

Harmon, a successful businessman with extensive experience in international business operations, served as Senior Chairman of Schroder Wertheim & Co. prior to accepting his current position at Ex-Im Bank.

As President and Chairman of Ex-Im Bank, I hope to enhance the important role this institution plays in helping American businesses meet the relentless international competition from the world marketplace, Harmon said. It is important for Congress, business leaders and the American public to recognize how Ex-Im Bank supports our economic growth and sustains U.S. jobs. Our mission, to finance creditworthy transactions in challenging markets, is even more relevant today given the significant competition in the global economy.

Clegg served as Vice President for Congressional and External Affairs and Chief of Staff prior to her current appointment. Before joining Ex-Im Bank in 1993, Clegg served on the professional staff of the Senate Committee on Banking, Housing and Urban Affairs and as a legislative assistant to former Senator Jake Garn (R-UT).

I am honored to have an opportunity to serve the Administration in this new and challenging capacity and to lead the Ex-Im Bank`s rechartering effort. I am also proud of the important work done by the staff at Ex-Im Bank, and its positive impact on communities across the country, Clegg said.

Ex-Im Bank is an independent federal agency that supports American jobs by financing the sales of U.S. goods and services to foreign markets and by matching export credit subsidies from foreign governments.

Nationally, Ex-Im Bank has supported more than 2,000 communities throughout America by approving over 10,000 transactions with $65.6 billion in authorized financing in the past five years. Ex-Im Bank annually sustains an estimated 200,000 jobs directly among exporters and suppliers and another one million jobs indirectly among subsuppliers.