Washington insiders are now confirming that W.R. "Tim" Timken, Jr. is in line for a senior level appointment in the Bush administration.

Mr. Timken recently stepped down as CEO of The Timken Company (USA) and is past president of the National Association of Manufacturers. He is also a major contributor to and fundraiser for the Republican party; Mr. Bush's presidential campaign in particular.

President Bush is expected to nominate Mr. Timken to chair the board of the non-profit Securities Investor Protection Committee (SIPC). He must then be approved by the Senate.

The SIPC was created by Congress in 1970; its charter is to oversee and protect investor assets at failed brokerage houses and investment banks. Funded by broker members, the SIPC has recovered $14 billion of investor assets since it began.

A seven-member board controls the SIPC; five are drawn from within the securities industry. The chair and co-chair are drawn from the general public and must be appointed by the President. It is strongly believed Mr. Timken will be nominated as Chairman.

If confirmed, Mr. Timken becomes the second senior Timken Company executive to go to Washington in the Bush administration.

In March 2001, Stephen Perry, VP of Human Resources, was appointed by President Bush to head the General Services Administration.