Emanuel names Mark Angelson new deputy mayor

April 20, 2011 (CHICAGO) (WLS) -- Chicago Mayor-elect Rahm Emanuel has named his new city finance team and the deputy mayor will only make $1 a year.

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.

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