Warburg Pincus has announced the appointment of Timothy Geithner, the former secretary of the US Department of the Treasury, as President and Managing Director. Mr. Geithner will also be a member of the firm’s Executive Management Group. Mr. Geithner will assume his responsibilities with the firm full time on March 1, 2014.
In his new role, Mr. Geithner will work closely with Warburg Pincus’ Co-Chief Executive Officers, Charles Kaye and Joseph Landy, on overall firm strategy and management, investing and portfolio management, organizational and funding structure, and investor relations.
“We are excited to welcome Tim to Warburg Pincus,” said Mr. Kaye. “He brings a history of strong leadership, a deep understanding of economies and markets, and a truly global perspective. These attributes will be of tremendous value to our firm in this increasingly interconnected world.”
Mr. Geithner joins Warburg Pincus following his service as the 75th secretary of the US Department of the Treasury. He previously served as President and Chief Executive Officer of the Federal Reserve Bank of New York, between 2003 and 2009. In those capacities, Mr. Geithner played a central role in designing the US response to the financial crisis of 2008-2009, while also tackling a broad set of international economic challenges.
“Warburg Pincus has an excellent record of performance, a very compelling global strategy and an ethical reputation of the highest regard. I look forward to working with my new colleagues and to contributing to the firm’s continued growth and success,” said Mr. Geithner.
Warburg Pincus has more than $35 billion in assets under management and has raised 13 private equity funds which have invested more than $45 billion in approximately 675 companies in 35 countries. The firm was founded in 1966 and is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Port Louis, Mumbai, San Francisco, Sao Paulo and Shanghai (www.warburgpincus.com).
“Warburg Pincus is a firm that strives to think ahead. As private equity evolves and as our investing practices and funding models continue to develop, Tim’s record of leadership through economic and market complexity will be of critical importance as we continue to build for the future,” said Mr. Landy.
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-18-13
