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Member, Beacon International Group, Ltd.
WASHINGTON—Joshua Gotbaum, President Barack Obama’s nominee for director of the Pension Benefit Guaranty Corp., was unanimously approved Wednesday by the Senate Health, Education, Labor and Pensions Committee.
Under a provision in the Pension Protection Act of 2006, the Senate Finance Committee now has 30 days to consider Mr. Gotbaum’s nomination. Once the finance panel approves, the nomination can go to a full Senate vote.
If confirmed, Mr. Gotbaum will succeed Charles E.F. Millard, who stepped down on Jan. 20, 2009. Vince Snowbarger, the PBGC's deputy director of operations, is the agency’s acting director.
Mr. Gotbaum is an operating partner at private equity firm Blue Wolf Capital Management L.L.C. in New York.
Doug Halonen is a reporter for Pensions & Investments, a sister publication of Business Insurance.