Obama to tap private equity exec Gotbaum as PBGC head

WASHINGTON—President Obama Monday said Monday he intends to nominate Joshua Gotbaum, an executive at a private equity firm, to be director of the Pension Benefit Guaranty Corp.

Mr. Gotbaum is currently an operating partner at Blue Wolf Capital Management L.L.C., a New York-based private equity firm. During the Clinton administration, Mr. Gotbaum held a variety of positions, including executive associate director and controller in the Office of Management and Budget, as well as assistant secretary for economic policy at the Treasury Department and assistant secretary at the Department of Defense.

During the Carter administration, Mr. Gotbaum served on the White House staff and at the Department of Energy.

He also was an investment banker at Lazard Freres in New York for more than a decade.

Senate confirmation is required. The position has been vacant since January.