CHICAGO – Mayor Rahm Emanuel announced today that Steven Koch will succeed Mark Angelson as Deputy Mayor of the City of Chicago, effective September 4. Mark Angelson, who has served as Deputy Mayor since the beginning of the administration, will increase his long standing affiliation with the Institute of International Education and become Chairman of its Scholar Rescue Fund later this year. Additionally, he will return to Northwestern University as a Trustee and to the JW Kellogg School of Management as a teacher.
“Steve Koch is a natural choice to take over for Mark Angelson and continue the progress this administration is making to make sure Chicago’s economy is diverse, expanding, fostering innovation and creating jobs throughout the city,” said Mayor Emanuel. “Steve’s experience in business and government, coupled with his strong network and exceptional career history, will continue to help create economic opportunity and jobs for Chicagoans while crafting a brighter future for all Chicagoans.”
Koch has spent 27 years at Credit Suisse, living and working in Chicago since 1986. During his tenure at CS, he held a number of senior leadership roles in the Mergers and Acquisitions and the Investment Banking Department. In his distinguished career, Steve has advised on landmark transactions across a broad range of industries that together comprise more than $1 trillion worth of transactions.
Koch has also long had a deep interest in service to the larger community. Among other community involvement, he serves as Chairman of the Board of both the Sinai Health System of Chicago and the Greater Chicago Food Depository; Co-Chairman of the Green Ribbon Committee on Sustainability and Climate Change of Chicago; and as a life trustee of the Francis Parker School. He helped develop and teaches in the Director's Consortium, a seminar sponsored by Dartmouth, the University of Chicago and Stanford Business Schools that trains corporate directors and serves as a Presidential appointee to the Independent Advisory Panel of theRecovery Accountability and Transparency Board.
“I am excited to have the chance to serve Chicago and work with Mayor Emanuel,” said Koch. “I am focused on working to create economic opportunity around the city and to use my experience to bring jobs to Chicagoans and craft innovative programs that will help Chicago grow. I look forward to extending the great work done by Mark Angelson and continuing the progress that the administration has made in these crucial areas.”
Angelson – who prior to his service to the city served as CEO of R.R. Donnelly – will continue to advise the Mayor informally as he takes on his new role.
"I am grateful to Mark Angelson for his selfless dedication and tireless commitment to the people of Chicago in his role as Deputy Mayor. Mark's outstanding efforts facilitated the creation of tens of thousands of jobs for Chicagoans, unprecedented cooperation with labor unions, the rebirth of World Business Chicago, and the launch of the largest municipal wellness program in the United States, among other initiatives," said Mayor Emanuel. "I have known Mark for many years, and I asked him to join my team with confidence in his ability to support the administration and improve the city. He exceeded my expectations, and his work will pay dividends for years to come. I look forward to continuing our friendship and his professional advice."
Angelson will continue to serve the International Institute of Education (which administers the Fulbright scholarships for the U.S. Department of State) as trustee and treasurer, and lead the organization’s Scholar Rescue Fund, an organization that has protected academic freedom around the world for nearly a century. He additionally will return to teaching at Kellogg, where he has taught mergers, acquisitions and business consolidation, and to his service to Northwestern University as a trustee. He will serve the Mayor as an informal adviser and will work with Koch as appropriate.
“Serving Mayor Emanuel and the City of Chicago has been the greatest honor of my career, and I owe the Mayor a debt of gratitude for affording me the privilege of so doing,” said Deputy Mayor Angelson. "Steve Koch is exactly the right person to succeed me. Our close friendship will assure a seamless transition. His wisdom, intellect, integrity and dedication will advance the Mayor's economic agenda and ensure that the Emanuel administration will go from strength to strength."
As was the case with Angelson, Koch will make $1 a year in his new role.
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