(By Bill O'Leary for The Washington Post)

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Background from The Post

President Clinton announced May 12 that Lawrence Summers would be nominated to succeed Robert Rubin as Treasury Secretary, giving the 44-year-old ex-Harvard University economist a job he had long wanted, in the midst of a vibrant economy. Summers had established himself as the intellectual powerhouse of the Clinton administration's economic team by the time he came to the position. He spent most of his career in policy making and academia, and many on Wall Street are waiting to see if Summers' political savvy will offset his lack of financial world experience. With a reputation as insensitive and insecure, Summers is making a determined effort to improve his 'people skills.'

Sworn in: July 2, 1999 (nominated June 22, 1999, confirmed July 2, 1999)

Succeeded: Robert E. Rubin

Previous occupation: Deputy secretary of the Treasury, 1995-99; under secretary of the Treasury for International Affairs, 1993-95; vice president of development economics and chief economist of the World Bank, 1991-93; professor of economics at Harvard University, 1983-93; domestic policy economist, Presidents Council of Economic Advisers, 1982-83; member, economics faculty of Massachusetts Institute of Technology, 1979-82.

Education: Massachusetts Institute of Technology (B.S.), 1975; Harvard University, 1982 (Ph.D.)

Hometown: New Haven, Conn.

Date of Birth: 1954

Spouse: Victoria Summers, a tax attorney.

Children: Twin daughters and a son.

Of note: Summers was Harvard University's youngest tenured professor ever at age 28.

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