Mayor Emanuel announces choice for new city treasurer

CHICAGO (WLS) -- Mayor Rahm Emanuel has made his choice for Chicago's new treasurer.

He announced his selection of Kurt Summers Jr. at the Harold Washington Cultural Center on the city's South Side Wednesday.

He would take over for outgoing City Treasurer Stephanie Neely, who announced Monday she would step down.

Mister summers most recently served as senior vice president at asset management firm, GCM Grosvenor.

The City Council still has to approve the mayor's choice.