Carol Bellamy, a managing director at Bear, Steams & Co., was confirmed last week by the U.S. Senate as the new director of the Peace Corps.
Bellamy, 51, who was named to the post by President Bill Clinton on July 2, was unanimously confirmed late Thursday. Her nomination was approved by the Senate's foreign relations committee early last week, also by a unanimous vote.
Bellamy becomes the first former Peace Corps worker to head the' 6,600-volunteer agency, which operates in 94 countries. She will oversee a $219 million budget for the 1994 fiscal year, which began Oct. 1.
"I've been lucky enough to have good jobs," Bellamy said Thursday.
Bellamy said she plans to continue to focus on the Peace Corps' primary objectives in agriculture, health care, and teaching. She also wants to expand programs that involve the environment, small business, and urban development.
Other goals include increasing the number of minority volunteers in the Peace Corps and expanding programs in Eastern Europe and the former Soviet Union, she said.
Bellamy, who serves at the discretion of the President, has been on leave since early August from her post as a managing director in the public finance department at Bear Steams. She has also served as chairwoman of Sloate, Weisman, Bear Steams Capital Management Inc., which provides money management services to institutional clients.
Now that she has been confirmed, Bellamy said that she will resign from, Bear Steams.
Previously, Bellamy was a principal at Morgan Stanley & Co.
In nominating Bellamy to head the volunteer agency created by President John F. Kennedy in 1961, Clinton cited her public- and private-sector experience.
Bellamy served in the New York State Senate from 1973 to 1977, and she was president of the New York City Council from 1978 to 1985.
Bellamy also made two unsuccessful bids for New York State comptroller, this year and in 1990.
As a state senator, Bellamy was a member of the finance committee and ranking Democrat on the cities committee. She also worked as trustee of the New York City pension system and was a member of the Metropolitan Transportation Authority.
Bellamy served in the Peace Corps in Guatemala from 1963 through 1965. She ran a school lunch program there and broadcast a daily Spanish language radio program on health and diet.
Bellamy is a member of the executive committee of the Citizens Budget Commission.
Since its inception, 140,000 volunteers have served with the Peace Corps.
