Robert E. Rubin

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Robert E. Rubin is a former Secretary of the U.S. Treasury who was most recently senior counselor and a director at Citigroup. He was also chairman of Citigroup's executive committee. He is an author.

Rubin was questioned in early April of 2010 by the U.S. financial crisis inquiry commission along with Chuck Prince and Alan Greenspan about the Federal Reserve's oversight during the crisis.[1]

Background

Rubin resigned from Citigroup in January of 2009 after the company lost billions in the 2008 mortgage meltdown. Rubin joined Citigroup in 1999 as an adviser to Sandy Weill and John Reed, briefly taking the chairman role in November of 2007 following the departure of Chuck Prince, and returning to his current role when Sir Win Bischoff was appointed to lead the board.[2]

Rubin began his career as an attorney at the firm of Cleary, Gottlieb, Steen & Hamilton in New York City from 1964 to 1966. He then joined Goldman, Sachs & Company as an associate in 1966, became a general partner in 1971 and joined the management committee in 1980. Rubin was vice-chairman and co-chief operating officer from 1987 to 1990 and served as co-senior partner and co-chairman from 1990 to 1992.

He joined the administration of President Bill Clinton in 1993, serving in the White House as assistant to the president for economic policy, and the first director of the National Economic Council. Rubin served as Secretary of the Treasury from January 1995 until July 1999.

As Treasury Secretary, Rubin advocated the repeal of the Glass, Steagall Act, which separated investment and commercial banking activities.[3]

Rubin is also a member of the board of directors of the Ford Motor Company, and on the board of trustees of Mount Sinai-NYU Health. In March 2000 he became a member of the advisory board of Insight Capital Partners, a New York-based private equity investment firm. He is also a member of the Harvard Corporation and also serves as chairman of the board of the Local Initiatives Support Corp.

He was also an economic adviser to Barack Obama's Presidential campaign.[4]

Books

This book was named one of Business Week's 10 best business books of 2003.[5]


References

  1. Rubin and Greenspan prepare to face crisis inquiry. FT.
  2. Press Release. Citigroup.
  3. Glass-Steagall’s Specter Returns to Haunt Wall Street. Bloomberg.
  4. Rubin Departs Citi on a Low Note. The Wall Street Journal.
  5. The Year's Best Business Books. BusinessWeek.