US official who handled the 2008 rescues as head of the New York Fed and then became Obama's Treasury Secretary
Born in Manhattan, Geithner grew up mostly abroad, in Zambia, Zimbabwe, India and Thailand. He joined the US Treasury in 1988 and as Under Secretary for International Affairs in 1998–2001 helped manage financial crises in Brazil, Mexico, Indonesia, South Korea and Thailand. After directing a department at the IMF he became President of the Federal Reserve Bank of New York in 2003, and in 2008 he was at the centre of the sale of Bear Stearns and the Lehman Brothers and AIG crises. As Obama's Treasury Secretary in 2009–13 he oversaw the allocation of $350 billion under the Troubled Asset Relief Program and the restructuring of financial regulation. In 2014 he moved to the private equity firm Warburg Pincus.
Also known as: Timothy Franz Geithner · Tim Geithner
Activities and affiliations
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1988–2001
United States state institutionsUnder Secretary of the Treasury for International Affairs
Economy, finance and planning -
2003–2009
United States state institutionsPresident of the Federal Reserve Bank of New York
Economy, finance and planning -
2009–2013
United States state institutionsSecretary of the TreasuryMain
Economy, finance and planning -
2014–
Economy, finance and planning
Career Timeline
- 1998–2001Under Secretary of the Treasury for International Affairs
- 2001–2003Director of the IMF Policy Development and Review Department
- 2003.10–2009President of the Federal Reserve Bank of New York
- 2009.01.26–2013Secretary of the Treasury
- 2014.03President of Warburg Pincus