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Steve Preston was sworn in as the 14th Secretary of the U.S. Department of Housing and Urban Development (HUD) on June 5, 2008. Nominated by President George W. Bush and confirmed unanimously by the Senate, Preston oversees HUD’s mission of providing affordable housing free from discrimination, helping families purchase and stay in their homes, and promoting economic development.
Prior to joining HUD, Secretary Preston served as the Administrator of the Small Business Administration (SBA), where he spearheaded a reform agenda to make the agency more responsive, accountable, and effective. As a result, families received the disaster assistance they needed in a timely, compassionate manner; lenders had products that are easier to use; and small businesses had broad access to the resources they needed to grow and succeed.
Secretary Preston has an extensive financial and capital markets background. Prior to overseeing SBA, Secretary Preston was Executive Vice President of The ServiceMaster Company, where he also served as chief financial officer during a period of expansion, restructuring and significant change in the regulatory environment. During the first half of Preston’s private sector career, he was a senior vice president and treasurer of First Data Corporation, and an investment banker at Lehman Brothers. Secretary Preston has more than a quarter century of management experience, including senior leadership roles at two multi-billion dollar corporations and in the financial service industries.
Secretary Preston is a passionate reformer who will act aggressively to help struggling Americans keep their homes, obtain affordable mortgages, as well as help ensure that all Americans have access to safe, decent, affordable housing.
Secretary Preston graduated with Highest Distinction from Northwestern University with a political science degree, and received an MBA from the University of Chicago’s Graduate School of Business. He also studied at the Ludwig-Maximilians-Universität in Munich, Germany. He currently serves as Chairman of the Board of Visitors for the Weinberg College of Arts and Sciences at Northwestern University, and has served on numerous boards of philanthropic and other organizations.
Preston and his wife, Molly have five children and currently reside in Virginia.
Last updated: January 20, 2009
Content Archived: January 20, 2009