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NR 1998-5
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Comptroller of the Currency Eugene A. Ludwig Advised President Clinton and Treasury Secretary Robert E. Rubin Today that he will Leave Office When his Term Expires on April 4

WASHINGTON, D.C. — Comptroller of the Currency Eugene A. Ludwig advised President Clinton and Treasury Secretary Robert E. Rubin today that he will leave office when his term expires on April 4.

In his letters, the Comptroller said he was providing advance notice of his plans in order to give the Administration adequate time to choose a successor. Mr. Ludwig said he wants to return to the private sector and have more time to spend with his family.

"I am proud of what we have been able to achieve," he said in his letter to the President. However, "much of what your administration set out to do in the banking area has been accomplished."

Mr. Ludwig, the 27th Comptroller, began his term on April 5, 1993. If a successor has not been nominated and confirmed by the Senate before he leaves on April 4, Chief Counsel Julie Williams will become acting Comptroller.

A copy of Mr. Ludwig's letter to the President (PDF) is attached.

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