WASHINGTON (Reuters) - The U. s. Treasury Department's chief restructuring officer, whose work focused on bailed-out insurer American International Group , has decided to leave his government post this week, the Wall Street Journal reported on Thursday.
Jim Millstein, 55, who has held his post at the department since May 2009, intends to explore job opportunities in the public or private sector, the Journal reported on its website.
Millstein played a key role in accelerating AI's plans to exit government ownership. The insurer received a record $182 billion bailout.
The Journal reported that Friday will be Millstein's last day at the Treasury Department. He notified Treasury Secretary Timothy Geithner two weeks ago of his intention to leave, seeing his work as largely done, the Journal reported.
"I plan to take some time off, regroup and see what comes next," Millstein said in an interview, according to the Journal. "I think the financial crisis has passed, and now that (the Treasury) is on a path to recover the bulk of our investments, I think it's time for me to move on."
The son of famous New York corporate governance lawyer Ira Millstein, he was enticed to come to Treasury as chief restructuring officer to manage a wide range of bailout investments. But his focus would be AI.
AI in January completed an agreement that effectively ended active federal support, giving the Treasury a 92 percent stake in the insurer that is set to be sold to investors over the next two years.
