An expert with three decades of experience in investment has been appointed to lead a US Commerce Department body that oversees investments from Korea, Japan and other countries into the United States.
The Commerce Department recently named Andrew Silberstein as director of the Investment Accelerator, according to the department Tuesday.
The Investment Accelerator is a body established by US President Donald Trump through an executive order in March last year. It plays a pivotal role in implementing the US investment commitments of major trade partners including Korea, Japan and Taiwan. The Commerce Department added that these investment commitments total more than 1 trillion dollars, including 550 billion dollars from Japan, 350 billion dollars from Korea and 250 billion dollars from Taiwan. It also noted that the body has overseen negotiations on large-scale projects worth more than 500 billion dollars to date.
The Commerce Department said Silberstein has built a career of more than 30 years in real estate, private equity funds (PEF) and investment banking (IB), with experience planning and managing numerous large-scale investments. Commerce Secretary Howard Lutnick stressed that "Silberstein's extensive experience with large deals and negotiations will contribute to promoting strategic infrastructure investment in the United States and strengthening economic and national security."
The Investment Accelerator's first director was Michael Grimes, known by the nickname "Elon Musk's banker." He returned to Morgan Stanley earlier this year.
