Tom Krause (business executive)
Tom Krause | |
|---|---|
| Fiscal Assistant Secretary of the Treasury | |
Acting | |
| Assumed office February 7, 2025 | |
| President | Donald Trump |
| Preceded by | Matthew Garber (acting) |
| Personal details | |
| Education | Princeton University (BA) |
Tom Krause is an American business executive serving as the Fiscal Assistant Secretary of the Treasury since 2025. He was briefly a member of the Department of Government Efficiency. Krause is chief executive officer of the Cloud Software Group.
Education
[edit]Krause earned a B.A. in economics from Princeton University.[1]
Career
[edit]Krause began his career as an investment banking analyst at Robertson Stephens.[2][1] He later worked at venture capital firm Technology Crossover Ventures for two years before serving as vice president of business development at Techwell for six years.[2] He then founded Krause Consulting Group, where he advised public and private technology companies on financial strategy.[2]
In 2016, Krause joined Avago Technologies as vice president of corporate development.[2] Following Avago's merger with Broadcom, he became Broadcom Inc.'s chief financial officer, overseeing financial functions, mergers and acquisitions, human resources, and investor relations.[2] In 2020, he was appointed president of Broadcom's software group, overseeing six software divisions.[3] He participated in negotiations for Broadcom's $61 billion acquisition of VMware and was involved in assessing VMware's research and development expenditures.[3]
In July 2022, Krause resigned from Broadcom and became chief executive officer of the Cloud Software Group, which owns Citrix, Tibco, Spotfire, and Jaspersoft.[2] The company provides cloud and information technology services to a global customer base.[2] After Krause joined Cloud Software group it laid off 15 percent of its employees.[4] A year later it laid off an additional 12 percent.[5]
In January 2025, Krause became involved with the U.S. Treasury Department as part of the Department of Government Efficiency (DOGE).[2] He was assigned as a special government employee to review the federal payment system and was granted limited access as a liaison between the Treasury and DOGE.[6][7] On February 7, 2025, he was appointed as the Fiscal Assistant Secretary of the Treasury, succeeding Matthew Garber who had been acting in the role since David Lebryk's resignation.[6]
References
[edit]- ^ a b "Thomas Krause Biography and Net Worth". www.insidertrades.com. Retrieved 9 February 2025.
- ^ a b c d e f g h Haranas, Mark (February 3, 2025). "Citrix Parent CSG CEO Helping Elon Musk's DOGE At Treasury Department". The Channel Company. Retrieved 2025-02-07.
- ^ a b Chen, Shiyin (July 11, 2022). "Broadcom's Krause Exits After Helping Lead VMWare Deal Talks". Bloomberg. Retrieved 2025-02-07.
- ^ Gonsalves, Antone (11 January 2023). "Thousands of Citrix, Tibco employees laid off following merger". TechTarget. Retrieved 9 February 2025.
- ^ Alemany, Jaqueline; Stein, Jeff; Torbati, Yeganeh (7 February 2025). "DOGE deputy to oversee powerful Treasury system as Musk demands cuts". Washington Post. Retrieved 9 February 2025.
- ^ a b Stratford, Michael (2025-02-07). "Treasury elevates Musk ally to lead government payment system". POLITICO. Retrieved 2025-02-07.
- ^ "Treasury Department Letter to Members of Congress Regarding Payment Systems". U.S Department of the Treasury. Retrieved 9 February 2025.