President Obama nominated Chicago businesswoman Penny Pritzker as Secretary of Commerce and long-time advisor Michael Froman as the USTR on May 2, 2013. Pritzker, who was considered a front-runner for the position in 2008 before withdrawing from consideration, is the Chairman and Chief Executive Officer of PSP Capital Partners. She also has served on the President's Council on Jobs and Competitiveness. Froman is a former managing director at Citigroup. In his current position as Deputy National Security Adviser for International Economic Affairs, Froman has served as the lead White House adviser on free trade agreements and has been the President's main emissary at major economic summits. Many trade specialists have pointed to Froman's selection as an indication that the Administration will heighten its focus on completing ongoing negotiations for the Trans-Pacific Partnership and the TTIP during Obama's second term.