Lawrence Summers, who left his post at D.E. Shaw Group to return to the White House two years ago, will leave as President Barack Obama’s National Economic Council chief at the end of the year.
Summers, who previously served as Treasury secretary under President Bill Clinton, will return to Harvard University, where he was formerly president, as a professor. It is unclear whether he’ll resume his career in the alternative investment industry.
Summers’ departure is the third from Obama’s top economic team, following the exits of Office of Management and Budget Director Peter Orszag and former Council of Economic Advisers head Christina Romer.