UPDATE 1-U.S. Treasury's Barr to leave his post
(Adds comment from Treasury's Geithner, paragraph 3)
WASHINGTON Nov 23 (Reuters) - A senior U.S. Treasury Department official, Michael Barr, is the latest Obama administration economic aide to decide to head back to the private sector.
Barr, assistant Treasury secretary for financial institutions who played a key role during negotiations for the Dodd-Frank regulatory overhaul this year, will resume his academic career at University of Michigan law school.
Treasury Secretary Timothy Geithner praised Barr's efforts in helping secure passage of new financial rules in the wake of the 2007-2009 financial crisis.
A day earlier, the White House said Diana Farrell was stepping down in coming weeks as a deputy director of President Barack Obama's National Economic Council.
Farrell worked alongside council Director Larry Summers, who has already announced his intention to return to Harvard University at the end of 2010. (Reporting by Glenn Somerville; Editing by James Dalgleish)
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