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Lew earned $1.1M from Citigroup before State Department job

Posted on July 14 2010 4:47 am
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When President Obama introduced Jacob J. “Jack” Lew as his top budget officer Tuesday, he praised his work handling finances in the Clinton White House and recently as a deputy secretary in the State Department – but he forgot to mention the lucrative Wall Street job in between.

Mr. Lew was chief operating officer at Citi Alternative Investments, a unit of Citigroup, just before joining the Obama administration last year. Citigroup received a big bailout months before Mr. Lew took his last job as Deputy Secretary of State for $177,000 per year.

It was a big pay cut.

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