Paulson, Hank (1946- )

US banker and Republican politician, treasury secretary from 2006. Chairman and chief executive officer of the investment bank Goldman Sachs from 1998, in June 2006 he succeeded John Snow as US treasury secretary in the cabinet of President George W Bush.

Immensely wealthy, with an estimated net worth of $700 million, as treasury secretary he stated that the wide gap between rich and poor was a key long-term issue for the US economy that needed to be addressed. Unlike many of his cabinet colleagues, he has acknowledged the role of human activity in contributing to global warming.

Born in Palm Beach, Florida, he was raised in Illinois. He studied English literature at Dartmouth College and secured a Master of Business Administration from Harvard Business School. After university, he held junior posts in the Nixon administration, before joining Goldman Sachs in 1974, becoming a partner in 1982. He is a devout Christian Scientist.