Former Citi AI COO Picked To Head Budget Office

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...