January 8, 1985

The President today announced his intention to appoint Donald T. Regan to be Chief of the White House staff. He has been serving as Secretary of the Treasury since January 1981. Previously he was chairman and chief executive officer of Merrill Lynch and Co., Inc., the holding company formed in May 1973 by Merrill Lynch, Pierce, Fenner and Smith, Inc.

Secretary Regan was born December 21, 1918, and graduated from Harvard University with a B.A. in 1940. He joined the U.S. Marine Corps and retired at the end of World War II as a lieutenant colonel. In 1946 Secretary Regan joined Merrill Lynch as an account executive trainee. Following his training, he worked as an account executive in Washington, DC. In early 1952 he was named manager of the Over-the-Counter Department in New York, and in 1954 he became a general partner in Merrill Lynch. From 1955 to 1960, Secretary Regan served as manager of the Merrill Lynch office in Philadelphia and as administrative division director in New York. In 1964 he was elected executive vice president of Merrill Lynch, and in 1968 he became president. He was named chairman and chief executive officer in January 1971.

Secretary Regan has served as a member of the Policy Committee of the Business Roundtable, as a member of the Council on Foreign Relations, and as a trustee of the Committee for Economic Development. He has also served as chairman of the trustees of the University of Pennsylvania. He holds honorary degrees from four universities and has served as a trustee of the Charles E. Merrill Trust, a charitable foundation.

He is married to the former Ann Buchanan, and they have four children.