A former D.C. mayor and an economist who was once the No. 2 official at the Federal Reserve will lead the District's search for a new chief financial officer.

Mayor Vincent Gray said Tuesday that he was appointing Alice Rivlin, who worked at the Fed and was the director of the Office of Management and Budget under President Bill Clinton, and former Mayor Anthony Williams to co-chair a search committee.

"I can't think of anyone with more distinguished credentials to lead the CFO search process than Mayor Williams and Dr. Rivlin," Gray said in a statement. "Besides being unquestioned experts in the area of the District's finances, both have also demonstrated extraordinary dedication over the years to ensuring that our city is in good fiscal health."

Prior to becoming mayor, Williams was the District's CFO, and Rivlin served as the chairwoman of the D.C. Financial Control Board for several years.

Gray said he will appoint other members of the search committee "in the coming days."

Gray is searching for a new CFO less than a year after he nominated Natwar Gandhi, 72, for a new term of five years. The D.C. Council overwhelmingly approved another term for Gandhi, but he stunned the city's political establishment earlier this month when he announced plans to retire in June.