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Washington, D.C. — The Cato Institute welcomes Peter Goettler, a former managing director at Barclays Capital, as its new President and CEO, effective April 1. Current CEO John Allison is retiring after more than two exemplary years on the job.

Goettler retired in 2008 as a managing director and head of Investment Banking and Debt Capital Markets, Americas, at Barclays Capital, the investment banking division of Barclays Bank, PLC. He also served as chief executive officer for the firm’s businesses in Latin America and head of Global Loans and Global Leveraged Finance. He has been a member of the Cato Institute’s board since last year and a supporter of the Institute for 15 years.

“The Cato Institute has played a major role in the increasing recognition of libertarianism as a vital political philosophy in the United States and the world,” said Goettler. “Indeed, journalists now talk about a ‘libertarian moment’ in American politics, reflecting both the failure of excessive government and the effective work of Cato and other libertarian organizations. In one policy area after another, Cato’s scholarship has highlighted the ill effects of state intervention on both freedom and economic growth. In the process, Cato’s work has helped to limit government and protect our liberty.”

Goettler has also served on the Board of the New York City-Southern New York chapter of the National MS Society since 2008, and chaired the board for the last two years.

Allison, former chairman and CEO of BB&T, joined Cato in October 2012 following the retirement of Cato co-founder Edward H. Crane.

“John Allison guided Cato through a significant transition process, and for that we will always be grateful to him,” said Robert Levy, Chairman of the Cato Institute’s Board of Directors. “Under John’s leadership, the Institute has prospered and grown while enhancing its reputation for intellectual rigor, advocacy of libertarian principles, and influence in the public policy community. The board is especially grateful for John’s willingness to tackle internal governance issues and help resolve conflicts that had jeopardized the Institute’s mission.”

Under Allison’s leadership, Cato’s financial support has grown by 64 percent, from total revenues of $22.1 million in FY2013 to total revenues of $36.3 million (projected) in FY2015. Allison also played a significant role in launching two new policy centers at Cato: the Center for Monetary and Financial Alternatives, which studies alternatives to today’s financial regulatory regime; and the Center for the Study of Science, which studies the effects of government funding on scientific research.

“Peter Goettler is an accomplished business executive who can speak powerfully, write convincingly, and has the leadership skills to take Cato’s outstanding team to an even higher impact level. We are very fortunate to have him as Cato’s new President and CEO. He has the talent to make a great organization even better,” said Allison.

Allison will continue to serve on Cato’s Board of Directors, in addition to acting as Chairman of the Executive Advisory Council for the Center for Monetary and Financial Alternatives.

The Cato Institute’s Board of Directors approved Goettler as the next CEO by unanimous vote at its March 28 meeting.

“In the fight for liberty, Cato is the indispensable institution,” Goettler said. “There is no more important contribution I can make to our fight than to dedicate myself fully to the ongoing success of the Cato Institute.”