Word: rubins
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...Paulson, 62, came to the job with a bit of Washington experience, dating to the Nixon White House. He had just spent seven years running Goldman Sachs, the current cream of Wall Street firms (and also the place that prepared Robert Rubin for his successful 1990s tenure at Treasury). But the key to understanding Paulson's approach is that he spent the bulk of his career not as a manager but as an investment banker. What a good investment banker does is build relationships - chiefly with the CEOs of companies whose business he is courting, but also with anybody else...
Harvard's top brass has at least one strong tie to Citigroup already: former Treasury Secretary Robert E. Rubin, a fellow on the Harvard Corporation, the University's seven-member governing body, is both a board member and high-ranking executive at the bank. Last November, Rubin made one of his infrequent public appearances at Harvard in a speech at the Business School...
...Condon noted that he has tremendous respect for what Rubin achieved during his prior years on Wall Street and his time as Treasury secretary. “But in his eight years at Citi, he’s done nothing, so why is he collecting a salary?” Condon asked...
...Lewis B. Kaden ’63, vice chairman of Citigroup, also defended Rubin. He said that although Rubin doesn’t have operational responsibility at Citigroup, he engages in a variety of activities, such as “participating in strategic discussions with senior management, frequently meeting with clients and government officials with whom Citi has a relationship, and serving as a mentor to managers, executives, and employees...
...Only a limited number of people have enough visibility or knowledge to understand Mr. Rubin’s role and what he does,” Kaden said. “I would say that anyone who [criticizes Rubin] doesn’t know what they’re talking about...