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Citi names Orszag global banking vice chairman

Citi names Orszag global banking vice chairman
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First Published: Fri, Dec 10 2010. 09 08 AM IST
Updated: Fri, Dec 10 2010. 09 08 AM IST
Charlotte, N.C.: Citigroup Inc appointed on Thursday US president Barack Obama’s former budget director as a global banking vice chairman.
The hire of Peter Orszag, currently a senior fellow at the Council on Foreign Relations, is the second by Citi of a former senior government official in less than a week.
Orszag had worked as director of the Office of Management and Budget under President Barack Obama, and left last July.
Orszag will also be a member of Citi’s senior strategic advisory group, but Citi said in a prepared statement his role will not involve direct contact with federal government officials.
Prior to working as the Office of Management and Budget director under Obama, Orszag oversaw the Congressional Budget Office. He holds a doctoral degree in economics from the London School of Economics.
The hire comes just six days after the bank hired Carlos Gutierrez, former commerce secretary under President George W. Bush, as a vice chairman for its institutional clients group. Gutierrez worked as commerce secretary from 2005-2009.
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First Published: Fri, Dec 10 2010. 09 08 AM IST