Morgan Stanley has a new chief operating officer. His name is Jim Rosenthal, and he is the former head of firmwide technology operations and the integrator of Smith Barney at Morgan Stanley. Mr. Rosenthal succeeds Tom Nides, who is leaving to work for Hillary Clinton at the State Department. An expository memo from Morgan Stanley Read More
The third-largest bank in Britain will ring in the new year with a new CEO. Bob Diamond will start work as the new CEO of Barclays a few months early, according to Bloomberg:
“We are now ready to effect the hand-over,” Chairman Marcus Agius said in the statement. “The speed with which the transition Read More
Andrew Cuomo is planning a muted inaugural ceremony in Albany to ring in this new era of state government, his office announced this afternoon.
According to his office, the inaugural events include a private swearing-in at the Executive Mansion on New Year’s Eve, a working executive staff meeting early on New Year’s Day, followed by Read More
As expected, former White House budget director and occasional New York Times scribe Peter Orszag is joining Citigroup, the megabank announced today. He’ll be working in Citi’s Strategic Advisory Group, a high-level team of banking executives, as a vice chairman.
Says Dr. Orszag: “I am pleased to be joining Citi, with its unmatched Read More
Stop us if you’ve heard this one before, but megabank Citigroup just may hire a former high-ranking White House official to a high-level position. According to Bloomberg, former budget director Peter Orszag is in advanced talks with Citi for a job at the company’s investment banking division.
Since leaving the White House earlier Read More
Mary Meeker, the heralded “Net Queen” whose analysis on the tech world has lately returned to favor among high-profile investors, is departing Morgan Stanley to take up residence at Kleiner Perkins Caulfield and Byers, The New York Times reports.
Ms. Meeker’s departure ends a 20-year tenure at Morgan Stanley, a stint that earned Read More
Herb Allison, the Assistant Secretary of the Treasury for Financial Stability, is stepping down from his position. His job was to manage the Troubled Asset Relief Program, or TARP, more colloquially known as the “huge bank bailout from 2008.”
Allison said he’s going back to Connecticut to be with his wife, who couldn’t join Read More
ResignationsNew BeginningsFunemployment
Newly minted Council of Economic Advisors head Austan Goolsbee said Sunday that he expects the unemployment rate, currently at 9.6 percent, to remain at high levels for a long time.
Goolsbee declined to predict a specific unemployment rate for the end of 2010, saying only that he didn’t expect a decline in joblessness to Read More
Austan Goolsbee, perhaps the only economist in history who’s good on TV, is the new head of President Obama’s Council of Economic Advisors. He replaces Christina Romer, who resigned September 3.
His credentials are impressive. He used to be a professor at the University of Chicago Business School, and he once got in Read More
This just in from the department of second chances: Jeffrey Peek, who helped steward financial-services firm CIT Group into its November 2009 bankruptcy, has landed a new gig as vice chairman of Barclays Capital’s investment banking division.
From 2003 to 2009, Peek’s tenure as CEO of CIT was marked by an effort to Read More
