Citigroup nabs senior treasury official
Former US Treasury Secretary Robert Rubin is to join the world's largest financial services group, Citigroup, as a board member and chair of its executive committee.
Former US Treasury Secretary Robert Rubin is to join the world's largest financial services group, Citigroup, as a board member and chair of its executive committee.
The details of Rubin's role are still to be worked out, however joint chief executive officers Sandy Weill and John Reed say Rubin is not the designated successor to Weill and Reed.
Rubin stood down from the Treasury post in May as the longest-serving senior fig-ure in the Clinton cabinet, and has since been courted by Merrill Lynch, Goldman Sachs and Blackstone, the private equity group.
Rubin says he chose Citigroup in part because he believed Reed and Weil have a vital sense of where they want to go.
AUTHOR
Jason Spits
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
