U.S. President Barack Obama just appointed one of MMI's own to a federal government post.

The Money Management Institute confirms that vice president and associate Nate Yohannes has been named senior advisor in the office of investment and innovation in the U.S. Small Business Administration (SBA). Associate Administrator Javier Saade leads the SBA's office of investment and innovation.

MFWire could not immediately reach an SBA spokesperson for comment on Yohannes' appointment.

As for his work at the managed account trade group, Yohannes served as MMI's liaison to the members' legal and regulatory committee. MMI spokeswoman Joan Lensing says that there's "no formal search right now underway" for a successor for Yohannes.

"We are looking at realigning some staff responsibilities," Yohannes says.

"In his more than two years here, Nate has done an outstanding job," states MMI president Chris Davis. "While we regret to see Nate leave, we wish him well in what will be an exciting and challenging post in the Obama administration."

Lensing confirms that Yohannes also led MMI's workplace diversity initiative, Gateway to Leadership, which involves placing minority students in summer internships with MMI member firms.

"Nate spearheaded that program," Lensing tells MFWire, adding that Yohannes also served as MMI's liaison to the United Negro College Fund.

An alumnus of SUNY Geneseo and SUNY Buffalo, Yohannes first joined MMI two and a half years ago. He clerked for New York 8th Judicial District Administrative Judge Paula Feroleto. 

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