Gotbaum Gets Senate HELP Panel Nod for PBGC Post

May 6, 2010 ( – A U.S. Senate committee has approved the nomination of Joshua Gotbaum, President Barack Obama’s nominee for director of the Pension Benefit Guaranty Corporation (PBGC).

A news release from the Senate Health, Education, Labor and Pensions Committee said Gotbaum was one of nine nominees who got the panel’s nod.

Under a provision in the Pension Protection Act of 2006, the Senate Finance Committee now has 30 days to consider Gotbaum’s nomination. If the finance panel approves, the nomination can go to a full Senate vote.

If he gets the full Senate’s backing, Gotbaum, operating partner at private equity firm Blue Wolf Capital Management L.L.C. in New York, is in line to succeed Charles E.F. Millard, who stepped down on January 20, 2009. Vince Snowbarger, the PBGC’s deputy director of operations, has been the agency’s acting director.