Former business executive Mark Angelson will lead the economic council as the new deputy mayor. Emanuel said he wants to cut $75 million from the current budget.
Angelson, who has led several major companies-- including R R Donnelley and World Color Press, will earn a salary of $1.
"He will evaluate every one of the city programs. He will ask tough questions about ways we can bring down costs, improve services, [and] promote efficiency and transparency," Mayor-elect Emanuel said.
Also on the financial team- Lois Scott and Alexandra Holt, chief financial officer and budget director, respectively.
Emanuel will be sworn in on May16.