Saturday, 31 January 2015
Last updated 1 day ago
Apr 6 2009 | 2:08am ET
A top economic adviser to President Barack Obama earned more than $5 million working part-time for a hedge fund last year.
According to financial disclosure forms released by the White House on Friday, Lawrence Summers, chairman of Obama’s Council of Economic Advisors, was paid about $5.2 million by New York-based D.E. Shaw Group. Summers, who served as Treasury secretary under President Bill Clinton, joined the hedge fund as a managing director in 2006, after he resigned as president of Harvard University.
Summers also made some $2.7 million in speaking fees, including $135,000 from Goldman Sachs, $67,500 each from JPMorgan Chase and Lehman Brothers, and $45,000 from Citigroup.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…