Geithner Headed to Wall Street
Named president of private equity firm
By Newser Editors and Wire Services
Posted Nov 16, 2013 1:35 PM CST
Former Treasury Secretary Timothy Geithner, shown in 2012, will be president and managing director of Warburg Pincus LLC.   (AP Photo/Manuel Balce Ceneta)

(Newser) – Former Treasury Secretary Timothy Geithner, who played a central role in the government's response to the financial crisis of 2008-2009, is joining private equity firm Warburg Pincus LLC. The New York-based firm announced today that Geithner will serve as its president and managing director starting March 1. The company has been involved in buyouts of such well-known firms as Neiman Marcus and contact lens maker Bausch + Lomb. Warburg Pincus didn't comment on Geithner's pay.

Geithner has spent most of his career in government, although he had an early stint at Kissinger Associates, the consulting firm formed by former Secretary of State Henry Kissinger. Geithner led the Federal Reserve Bank of New York for more than five years before being becoming Treasury secretary in 2009. Supporters credited him with helping prevent the recession from spiraling into a second Great Depression, but critics said he was too cozy with Wall Street.

Copyright 2016 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Geithner Headed to Wall Street is...
11%
10%
12%
2%
15%
49%
Show results without voting
You Might Like
Comments
Showing 3 of 27 comments
timdakdee
Nov 18, 2013 12:07 AM CST
Make that, Timothy " Greedy / Grubbing / Gravy Train" Geithner
flatnosepete
Nov 17, 2013 10:14 AM CST
Timothy Geithner, off to do some more damage.
kumatose
Nov 17, 2013 6:16 AM CST
They threw Martha Stewart in jail for insider trading... something that is widespread and commonplace in the three branches of government. The only time they pretend to do something about it is when people complain. It should be against the law, with severe punishment, for Geithner to have any business interactions with anybody in government.