Citigroup this week hired former White House Budget Director Peter Orszag as vice chairman of its investment banking division.
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Orszag, who left the administration in July, reports to John Havens, chief executive officer of the company's institutional-client group.
Citi continues to be a top ranked player in residential lending and servicing and manages an MBS trading desk.
To comply with government ethics rules, Orszag, initially will not have business contacts with federal officials while serving as a Citi employee.
