Saturday, 20 December 2014
Last updated 1 day ago
Jan 9 2013 | 12:49pm ET
A former Citigroup hedge fund executive is President Barack Obama's choice to serve as U.S. Treasury Secretary during his second term.
Obama plans to nominate White House Chief of Staff Jacob Lew to take over from Timothy Geithner, tomorrow. Geithner has repeatedly made clear that he wishes to step down, and reiterated it in the wake of the fiscal cliff talks that he helped lead.
Lew, who must be confirmed by the U.S. Senate, has served in the Obama administration from the beginning. Prior to taking over as chief of staff last January, he was director of the Office of Management and Budget and deputy secretary for management and resources at the State Department. Obama's administration is the second Lew, 57, has served in; he was previously head of OMB under President Bill Clinton.
In between those administrations, Lew served as chief operating officer of Citi Alternative Investments, from 2006 through 2009.
When Obama named Lew his chief of staff, he said, "his economic advice was invaluable."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.