Treasury's Gregg to retire after 41 years in federal financial management

Thursday - 5/29/2014, 11:11am EDT

A long-time stalwart in the federal financial community decided to call it a career after 41 years in government.

The Treasury Department announced May 27 that Fiscal Assistant Secretary Richard Gregg is retiring at the end of June. Treasury said Dave Lebryk, currently the commissioner of the Bureau of the Fiscal Service, will take over for Gregg, and Sheryl Morrow, currently deputy assistant secretary for Fiscal Operations and Policy at Treasury, will succeed Lebryk as commissioner. The changes will be official as of June 30.

"Dick has been a tremendous leader for the government's fiscal operations, helping to bring about changes that have revolutionized government transactions despite incredibly tough economic and budgetary circumstances," said Secretary Jacob Lew in a release. "His relentless pursuit of a more modern, more efficient, less costly government has been the hallmark of his 41 years at Treasury. We are particularly grateful to Dick for coming out of retirement in 2009 to assume the position of Fiscal Assistant Secretary where he provided steady leadership during an important time. We owe him a debt of gratitude for his many years of service."

Lew also said Lebryk and Morrow will bring considerable knowledge and experience to their new positions that will continue to improve Treasury operations.

During his career, Gregg worked under 16 different Treasury secretaries and served for 10 years as the commissioner of the Bureau of the Public Debt.

Most recently, Gregg oversaw efforts to move Treasury into the electronic world. He led initiative for Treasury to stop issuing paper checks in 2013.

Gregg also was a big proponent of shared services for financial management. He played a key role in reinvigorating the program, which recently named new federal providers.

And Gregg didn't shy away from speaking his mind about potentially controversial topics, such as the DATA Act. In January 2013, Gregg said at an Association of Government Accountants event that the DATA Act, which became law last month, would be difficult to implement.

Over the course of the last few years, Lebryk has worked closely with Gregg on many priorities.

Lebryk has been with Treasury for more than 25 years, serving in several senior leadership positions, including the deputy assistant secretary for Fiscal Operations and Policy, and deputy director and acting Director of the Mint.

Morrow, who has more than 34 years with Treasury, will continue to unify the government's fiscal and debt operations under one central vision and leadership under the recently merged Fiscal Service. During her career, she held numerous positions assistant commissioner for payment management and chief disbursing officer at the Financial Management Service.

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