Tim Geithner Finally Moving to Wall Street
After working with the Council on Foreign Relations and writing a book, former Treasury Secretary Timothy Geithner finally got a new job. He's chasing the big bucks at a private-equity firm, following a long line of former government officials cashing out on Wall Street.
Friday evening, the Wall Street Journal reported Getihner will join private-equity firm Warburg Pincus in March. The former Obama administration official hasn't worked in the private sector in over 25 years, after spending time with International Monetary Fund and the New York Federal Reserve. In 2009, he was appointed Treasury secretary, and was credited with slowing the effects of the economic downturn. Geithner left the Treasury in January and enjoyed a low-key life outside of the private and public sectors. Details of his new compensation weren't reported.
"He brings a history of strong leadership, a deep understanding of economies and markets, and a truly global perspective," co-chief executive Chip Kaye said a statement, per Bloomberg. "These attributes will be of tremendous value to our firm in this increasingly interconnected world." Post-government positions are in-name-only, which is where Geithner's new job will differ from the norm, according to the Journal.