October 10, 2003—The Board of Directors named former U.S. Treasury Secretary Robert E. Rubin, director and chairman of the executive committee of Citigroup, as a vice chairman of the Council. He joins former U.S. Trade Representative Carla A. Hills, chairman and CEO of the international consulting firm Hills & Company, who has been a vice chair for two years. Rubin replaces William J. McDonough, who recently stepped down from his post as a Council vice chairman to become chairman and chief executive officer of the Public Company Accounting Oversight Board.
“All of us on the Board are delighted that Bob is a new vice chairman. While we are sorry Bill McDonough’s new public duties required him to step down, we are extremely pleased Bob has taken his place,” said Council Chairman Peter G. Peterson.
Rubin has been an active member of the Council over the past decade and was elected to the Board in 2000.
Rubin joined the Clinton administration in 1993, serving in the White House as assistant to the president for economic policy and the first director of the National Economic Council. He served as Secretary of the Treasury from 1995 to 1999.
Rubin now serves as chairman of the board of the Local Initiatives Support Corporation, the nation’s leading community development support organization. He also serves as a member of the board of directors of the Ford Motor Company and the board of trustees of Mount Sinai-NYU Health. In March 2000, he became a member of the advisory board of Insight Capital Partners, a New York-based private-equity investment firm. He is also a member of the Harvard Corporation.
Rubin began his career as an attorney at the firm of Cleary, Gottlieb, Steen & Hamilton. He then joined Goldman, Sachs & Company as an associate in 1966, became a general partner in 1971 and joined the management committee in 1980. He was vice chairman and co-CEO from 1987 to 1990 and served as co-senior partner and co-chairman from 1990 to 1992.
His new book, In an Uncertain World: Tough Choices From Wall Street to Washington (Random House), will be published in November.
Established in 1921, the Council on Foreign Relations is a nonpartisan membership organization, publisher, and think tank, dedicated to increasing America’s understanding of the world and contributing ideas to U.S. foreign policy. The Council accomplishes this mainly by promoting constructive debates, clarifying world issues, producing reports, and publishing Foreign Affairs, the leading journal on global issues.
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