Revolving Door: Timothy Geithner to Join Private Equity Firm
The former U.S. Treasury secretary whose bailout policies continue to ensure economic recovery works only for the richest Americans will join private equity firm Warburg Pincus in March as president and managing director.
The firm, which is headquartered in New York City and has offices in Europe, Brazil, China and India, currently manages more than $30 billion in assets in a range of industries, including energy, health care, technology, media and real estate.
—Posted by Alexander Reed Kelly.
The Guardian:
Geithner, who stepped down as treasury secretary in January, will join the New York-based firm in March. He will work closely with Warburg Pincus’ top executives on overall firm strategy and management, investing and portfolio management, organizational and funding structure, and investor relations, the firm said in a statement.
… Before becoming Treasury secretary, Geithner was president and chief executive of the Federal Reserve Bank of New York from 2003 to 2009, where he helped design the US response to the financial crisis of 2008-09. Since leaving Treasury, he has been a distinguished fellow at the Council on Foreign Relations and has conducted a series of seminars on financial crises at universities across the country.
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Source: http://www.truthdig.com/eartotheground/item/revolving_door_geithner_joins_giant_investment_bank_20131116/
