Monday, 22 September 2014
Last updated 5 min ago
Jul 14 2010 | 11:53am ET
President Barack Obama has nominated a former Citi Alternative Investments executive to serve as director of the Office of Management and Budget.
Jacob Lew spent two-and-a-half years at the Citigroup hedge fund unit before joining the State Dept. last year as deputy secretary for management and resources. If Lew is confirmed to replace Peter Orszag, who is stepping down at the end of the month, it will be his second go-around at the helm of OMB, having served as director under former President Bill Clinton from 1998 through 2001.
“At a time when so many families are tightening their belts, he’s going to make sure the government continues to tighten its own,” Obama said yesterday. “He’s going to do this while making government more efficient, more responsive to the people it serves.”
Lew joined Citi AI in 2006. He spent the entirety of the Clinton administration in government, first as a special assistant to the president, and then as associate director for legislative affairs at OMB.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.