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Emanuel picks new Chicago treasurer

Posted October 22, 2014 1:01 am

Associated Press

Chicago Mayor Rahm Emanuel's choice for the city's new treasurer is an executive with an asset-management firm.

Emanuel announced on Wednesday that he has chosen Kurt Summers Jr. to fill the city's vacancy on Dec. 1. The appointment awaits consideration by the city council.

Current Treasurer Stephanie Neely announced Monday she was stepping down to take a job in the private sector.

Emanuel noted Summers' extensive background in the financial services sector. Summers lately has been a senior vice president at GCM Grosvenor and has served in management roles in the specialty insurance services industry.

Summers also has served as Cook County Board President Toni Preckwinkle's chief of staff and as her appointed trustee for the county's pension fund.

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