Omarova earned an undergraduate degree from Moscow State University before emigrating to the U.S. in 1991 and continuing her studies. She earned a PhD from the University of Wisconsin at Madison and a law degree from Northwestern University. She then worked at Davis Polk & Wardwell, a top New York firm, where she focused on corporate transactions and advising financial industry clients on regulation. She also served in the Treasury Department of Republican President George W. Bush’s administration as a special adviser on regulatory policy.
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