From June 2010 until December 2013 Mr. Steel served as Deputy Mayor for Economic Development for The City of New York in the Administration of Mayor Michael R. Bloomberg where he was responsible for the Administration's economic development strategy and job-creation efforts, as well as its efforts to expand job training, strengthen small business assistance, promote new industries, diversify the economy, advance the New Housing Marketplace Plan and spearhead the Administration's major redevelopment projects.
Prior to his 2010 appointment as Deputy Mayor, Steel was the President and CEO of Wachovia. From 2006 to 2008, Steel was the Under Secretary for Domestic Finance at the U.S. Department of the Treasury. Prior to entering government service, Steel spent nearly 30 years at Goldman Sachs, ultimately rising to become co-head of the U.S. Equities Division and Vice Chairman of the firm. He is a graduate of Duke University and the University of Chicago's Booth School of Business, and has distinguished himself as Chairman of Duke's Board of Trustees, Chairman of the Aspen Institute's Board of Trustees, Senior Fellow at the Harvard Kennedy School of Government, a member of the FDIC Advisory Committee on Economic Inclusion, Chairman of The After-School Corporation, and Co-Founder of SeaChange Capital Partners, an organization dedicated to helping nonprofits grow.