Former U.S. Treasury Secretary Timothy Geithner is joining private-equity firm Warburg Pincus LLC after a quarter-century career in public service that was capped by his oversight of financial crisis rescues of Wall Street banks and General Motors Corp.
Timothy Geithner, the former U.S. Treasury secretary who supervised government bailouts of some of the largest companies after the 2008 financial crisis, agreed to join private-equity firm Warburg Pincus LLC after more than 25 years in public service.
Highfields Capital Management LP, the Boston hedge fund run by Jonathon Jacobson, sold its stake in JPMorgan Chase & Co. and Oracle Corp. in the third quarter and halved its holdings in Capital One Financial Corp.
Janet Yellen is poised to take charge of a Federal Reserve System where boardroom dissent has become increasingly rare, making the central bank’s governing body an unusual example of harmony in a divided capital.
Federal Reserve Governor Daniel Tarullo said creditors could penalize the largest banks with higher interest rates or desert them entirely if the government doesn’t clarify plans for winding down firms near collapse.